Jon Stewart Destroys Larry Summers' Argument About Inflation

By Susie Madrak — March 19, 2023

Oh, it was lovely to see Jon Stewart confront Larry Summers on his position that laying people off is the way to deal with inflation. This fits nicely with my theory that the economic and banking muckety-mucks are actually TRYING to cause a recession as a rationale for quashing higher wages -- and Joe Biden's booming economy just won't cooperate!

Here's Lindsey Owens, who worked for Sen. Warren and the Roosevelt Institute:

1. Larry says he's happy to see workers finally have power to command higher wages & walk away from poorly paying jobs. But Jon does a TERRIFIC job of explaining why Larry's preferred inflation fighting strategy, interest rate hikes, works in direct opposition to that goal. 2/4

— Lindsay Owens, PhD (@owenslindsay1) March 17, 2023

2. Jon hones in on the ultimate double standard that economists like Larry employ: corporations should charge whatever the market will bear for their goods, driving up prices, but when workers do the same for their labor, economists want central banks to step in & quash them. 3/4

— Lindsay Owens, PhD (@owenslindsay1) March 17, 2023

3. Finally, Larry's team clearly did a little research on Apple trying to put Jon in a box on whether he thinks it is ok for Apple to price gouge. It fell flat as a pancake b/c unlike Larry, Jon doesn't form his opinions based on who signs his paycheck & didn't take the bait. 4/4

— Lindsay Owens, PhD (@owenslindsay1) March 17, 2023

Jon Stewart is more prepared for their bullshit than they are. He caught Larry Summers in his own crap and the guy couldn't get out and was obviously getting frustrated. https://t.co/6HES0s9MDh

— (((EugeneFreedman))) (@EugeneFreedman) March 17, 2023

TRS: The Problem with Larry Summers (Jon Stewart) https://t.co/cRccZY4ep4 via @YouTube

— Mark Flowerchild #MMT #RealProgressives (@MarkFabian21) March 17, 2023

So gratifying to see that Jon Stewart doesn't kiss Larry Summers' broad ass like the corporate media and Beltway Villagers do.

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