Tuesday, October 13, 2020

Cape Cod In Winter

It isn't really exaggeration to say that every major decision fucking up the economy for the past 25 years can be traced back to Larry Summers. And yet he keeps on going. On this particular issue - how to rescue the economy from a recession - the costs of doing way too much are trivial compared to the costs of doing not enough, and yet that is where they go every time. Summers wasn't against doing something, but the immediate happy talk after doing it helped to dampen enthusiasm for CARES or anything similar. And here we are.