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Comedian and political commentator Jon Stewartand former U.S. Treasury SecretaryLarry Summersgot into a heated exchange about the state of the economyduring an episode of Stewart's eponymous show, "The Problem With Jon Stewart."

On Friday, Summers argued that the U.S. government's stimulus measures have resulted in inflation, rising prices and wages.

"What happened to us is we had massive stimulus and an economy that could only produce so much. So we had a huge level of demand, and those huge levels of demand kept pushing up prices and pushing up wages," he explained."But ultimately, it was, you put too much water in the bathtub, you put too much demand into the economy, and you get high and rising prices."

In discussing wages and employment,Summers said, "There are certain sicknesses you can have where there's a drug, and it has side effects, and everybody hates the side effects, and no doctor wants their patient to suffer the side effects. But if you don't address the sickness, you can have a bigger problem down the road."

Stewart, however, fired back, saying,The stock market assets have gone up 150%. CEO pay has gone up 1,500%. Workers wages haven't gone up at all. I think you're misdiagnosing the sickness.

"The most serious problem in the U.S. economy has been the cleavages between those like you and me, who are very fortunate. That's why we need a strategy and strengthening economic labor power. Is it an issue that somebody whose control is over setting interest rates and printing money can do much about?" Summers askedin response.

Read Also:Larry Summers Says Soft Landing 'Looks More Possible': Unemployment Vs. Inflation

Speaking later about economic recovery, Stewart said,This pandemic was the first time the government, in my opinion, did the thing that they're supposed to do in a crisis. When you look at the stimulus payments that went out, you know, 70% of it was being used for rent and food.

And if you look at the recovery in the pandemic versus the recovery from 2008, when you stimulated the economy at the demand level, jobs had plunged in the pandemic and then they shot back up. The recovery in 2009 was painstaking, but the stock market did great. So our fiscal policy and our monetary policy has always been on the side of corporate easing, he added.

"If you talk to African American voters, if you talk to Hispanic voters, talk to voters who don't have college degrees, they regard the country's biggest problem as having to do with inflation," Summers retorted. "So while you may see this as having been tremendously successful, our fellow Americans who don't live as comfortably as you and I do have a lot of questions."

Touching on the topic of corporate profit,Stewart told the former Treasury Secretary,Butwhat you're not addressing is not all of inflation was stimulus. The tools that we have, though, are basically saying to somebody, everyone's paying more for gas and groceries, and that's really hard. So here's what we're going to do:We're going to throw 10 million of them out of work so that we all don't have to share that burden.Why aren't we attacking corporate profit in any way? Because that's been estimated to be 30% of inflation,40% of inflation?

Summers responded by saying that he didn't think that "it's a tenable view that all of a sudden corporations became greedy.

At that point, Stewart cutSummers off, pointing out that there had beenrecordings and reports wherecorporate executives had spokenhighly oftheirincreased profits during earnings calls.

The former Treasury Secretary had earlier said that the Federal Reserve shouldn't be spooked by the recent banking crisis into easing its campaign to contain inflation.

"It would be very unfortunate if, out of solicitude for the banking system, the Fed were to slow down its rate of interest-rate increase beyond what was appropriate given the credit contraction," Summers said during aninterviewwith Bloomberg.

Read Next:Larry Summers Says It Would Be 'Catastrophic' For US To Default On Debt: 'God, I Wish We Could Move Past This'

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‘Vibrant’ Sanders says Buffs will ‘win differently’

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'Vibrant' Sanders says Buffs will 'win differently'

BOULDER, Colo. — Colorado coach Deion Sanders said he feels “healthy and vibrant” after returning to the field for preseason practices after undergoing surgery to remove his bladder after a cancerous tumor was found.

Sanders, 57, said he has been walking at least a mile around campus following Colorado’s practices, which began last week. He was away from the team for the late spring and early summer following the surgery in May. Dr. Janet Kukreja, director of urological oncology at University of Colorado Cancer Center, said July 30 that Sanders, who lost about 25 pounds during his recovery, is “cured of cancer.”

“I’m healthy, I’m vibrant, I’m my old self,” Sanders said. “I’m loving life right now. I’m trying my best to live to the fullest, considering what transpired.”

Sanders credited Colorado’s assistant coaches and support staff for overseeing the program during his absence. The Pro Football Hall of Famer enters his third season as Buffaloes coach this fall.

“They’ve given me tremendous comfort,” Sanders said. “I never had to call 100 times and check on the house, because I felt like the house is going to be OK. That’s why you try your best to hire correct, so you don’t have to check on the house night and day. They did a good job, especially strength and conditioning.”

Colorado improved from four to nine wins in Sanders’ second season, but the team loses Heisman Trophy winner Travis Hunter, the No. 2 pick in April’s NFL draft, as well as record-setting quarterback Shedeur Sanders, the son of Deion Sanders. The Buffaloes have an influx of new players, including quarterbacks Kaidon Salter and Julian “Ju Ju” Lewis, who are competing for the starting job, as well as new staff members such as Pro Football Hall of Fame running back Marshall Faulk, who is coaching the Buffaloes’ running backs.

Despite the changes and his own health challenges, Deion Sanders expects Colorado to continue ascending. The Buffaloes open the season Aug. 29 when they host Georgia Tech.

“The next phase is we’re going to win differently, but we’re going to win,” Sanders said. “I don’t know if it’s going to be the Hail Mary’s at the end of the game, but it’s going to be hell during the game, because we want to be physical and we want to run the heck out of the football.”

Sanders said it will feel “a little weird, a little strange” to not be coaching Shedeur when the quarterback starts his first NFL preseason game for the Cleveland Browns on Friday night at Carolina. Deion Sanders said he and Shedeur had spoken several times Friday morning. Despite being projected as a top quarterback in the draft, Shedeur Sanders fell to the fifth round.

“A lot of people are approaching it like a preseason game, he’s approaching like a game, and that’s how he’s always approached everything, to prepare and approach it like this is it,” Deion Sanders said. “He’s thankful and appreciative of the opportunity. He don’t get covered in, you know, all the rhetoric in the media.

“Some of the stuff is just ignorant. Some of it is really adolescent, he far surpasses that, and I can’t wait to see him play.”

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LSU QB Nussmeier dealing with patellar tendinitis

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LSU QB Nussmeier dealing with patellar tendinitis

LSU starting quarterback Garrett Nussmeier aggravated the patellar tendinitis he has been dealing with in his knee but will not miss any significant time, coach Brian Kelly said Friday.

Kelly dropped in ahead of a news conference Friday with offensive coordinator Joe Sloan to tell reporters that Nussmeier did not suffer a severe knee injury or even a new one. According to Kelly, Nussmeier has chronic tendinitis in his knee and “probably just planted the wrong way” during Wednesday’s practice.

Nussmeier ranked fifth nationally in passing yards (4,052) last season, his first as LSU’s starter, and projects as an NFL first-round draft pick in 2026.

“It’s not torn, there’s no fraying, there’s none of that,” Kelly said. “This is preexisting. … There’s nothing to really see on film with it, but it pissed it off. He aggravated it a little bit, but he’s good to go.”

Kelly said Nussmeier’s injury ranks 1.5 out of 10 in terms of severity. Asked whether it’s the right or left knee, Kelly said he didn’t know, adding, “It’s not a serious injury. Guys are dealing with tendinitis virtually every day in life.”

LSU opens the season Aug. 30 at Clemson.

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3 departing members file updated suit vs. MWC

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3 departing members file updated suit vs. MWC

Three departing members of the Mountain West Conference are suing the league, alleging it improperly withheld millions of dollars and misled them about a plan to accelerate Grand Canyon’s membership.

Boise State, Colorado State and Utah State filed an updated lawsuit in the District Court of Denver arguing the conference and Commissioner Gloria Nevarez willfully disregarded the league’s bylaws by “intentionally and fraudulently” depriving the schools of their membership rights.

The three schools, which are all headed to the Pac-12 after the 2025-26 school year, are seeking damages for millions of dollars of alleged harm caused by the Mountain West, including the withholding of money earned by Boise State for playing in last year’s College Football Playoff.

“We are disappointed that the Mountain West continues to improperly retaliate against the departing members and their student athletes,” Steve Olson, partner and litigation department co-chair for the O’Melveny law firm, said in a statement. “We will seek all appropriate relief from the court to protect our clients’ rights and interests.”

The Mountain West declined further comment outside of a statement released last week. The conference has said the departing schools were involved in adopting the exit fees and sought to enforce those against San Diego State when it tried to leave the conference two years ago.

“We remain confident in our legal position, which we will vigorously defend,” the statement said.

The three outgoing schools argue the Mountain West’s exit fees, which could range from $19 million to $38 million, are unlawful and not enforceable. The lawsuit also claims the Mountain West concealed a plan to move up Grand Canyon University’s membership a year to 2025-26 without informing the departing schools.

The Mountain West is also seeking $55 million in “poaching fees” from the Pac-12 for the loss of five schools, including San Diego State and Fresno State starting in 2026. The two sides are headed back to court after mediation that expired last month failed to reach a resolution.

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