Posted Nov 28, 2016 by Martin Armstrong
The major bonus to Hillary losing the elections is that Larry Summers will not be the chief economic adviser. Larry Summers is Hillary’s top choice for Fed Chairman or the Chief Economic Adviser in the White House. Treasury Secretary, was a position he held under Bill Clinton in the 90s, but that was going to go to Laurence Douglas “Larry” Fink the chairman and chief executive officer of BlackRock who is the largest asset management firm in the world, controlling $4.6 trillion in investor funds. That’s about a trillion dollars more than the annual federal budget, and five times the assets of Goldman Sachs. Fink’s ties to Hillary are extensive. He even hired Cheryl Mills, Hillary’s notorious legal adviser, on the Board of Blackrock in 2013. Fink would then get to cash out of Blackrock TAX FREE, as did Robert Rubin and Hank Paulson of Goldman Sachs.
Larry Summers is the father of NEGATIVE interest rates. He is absolutely perhaps one of the most dangerous men on the chess board up there with Dick Cheney. A speech delivered by Larry Summers at the IMF Research Conference on Nov. 8, 2013 had caused a real stir and was being hailed as brilliant, succinct, and a ground-breaking presentation that explained what many said was the most pressing economic matter of our time.
With all the lies of Hillary and people like Summers saying how trickle-down economics failed, the highest economic growth came during the Reagan Administration. We are languishing below 2% and a 6 year moving average is even worse. But people like Summers think they can force GDP growth by punishing people with NEGATIVE interest rates if they do not spend money. Summers and Hillary believe in manipulating people to accomplish their goals. The problem is, neither understands anything about economic forecasting.
Summers may be one of the four horseman of the economic apocalypse laying waste to Western society and our economy. He believes in total control of society and he is the one who first floated the NEGATIVE interest rates. He is a linear thinker and a fool. He will never admit a mistake and since his NEGATIVE interest rates has not destroyed deflation but encouraged more with people hoarding cash, he is now advocating ending cash to prevent hoarding and then hopefully his idea of NEGATIVE interest rates might work.
Summers has admitted he cannot forecast the economy claiming it’s just like weather and too complex. Yet that does not stop him from trying to suppress the economy exactly as Karl Marx.
We should rejoice in Trump winning even if you do not like him. The team behind the curtain supporting Hillary would absolutely devastate our future in the blink of an eye. Just look how negative interest rates has devastated the European economy and has failed to reverse the deflation. Summers will NEVER concede defeat so he now advocates eliminating cash to prevent hoarding he sees as defeating his theory of negative interest rates. Of course, who published his latest article to end the $100 bill? The Democratic Marxist Propaganda rag – Washington Post.