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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'

Photo: Shutterstock

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World

Venezuela accuses Trump of ‘colonial threat’ after US president ‘closes’ its airspace

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Venezuela accuses Trump of 'colonial threat' after US president 'closes' its airspace

Venezuela has accused Donald Trump of a “colonial threat” after he said the airspace “above and surrounding” the country should be considered closed “in its entirety”.

Mr Trump made the declaration amid growing tensions with President Maduro – and as the US continues attacking boats it claims are carrying drugs from Venezuela.

He wrote on Truth Social: “To all Airlines, Pilots, Drug Dealers, and Human Traffickers, please consider THE AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE CLOSED IN ITS ENTIRETY.”

Air traffic above Venezuela on Saturday afternoon. Pic: FlightRadar24
Image:
Air traffic above Venezuela on Saturday afternoon. Pic: FlightRadar24

Venezuela’s foreign affairs office called it a “colonial threat” and “illegal, and unjustified aggression”.

It accused the president of threatening “the sovereignty of the national airspace… and the full sovereignty of the Venezuelan state”.

President Trump’s words were part of a “permanent policy of aggression against our country” that breached international law and the UN Charter, it added.

The Pentagon and the White House have so far not given any additional detail on the president’s statement.

Mr Trump’s post comes after the American aviation regulator last week warned of a “potentially hazardous situation” over Venezuela due to a “worsening security situation”.

Nicolas Maduro is widely considered a dictator by the West. Pic: Reuters
Image:
Nicolas Maduro is widely considered a dictator by the West. Pic: Reuters

The South American nation revoked operating rights for six major airlines that went on to suspend flights to the country.

Mr Trump warned a few days ago that land operations against suspected Venezuelan drug traffickers would begin “very soon”.

Such a move would be a major escalation in Operation Southern Spear – the US naval deployment in the Caribbean Sea and eastern Pacific that’s so far attacked at least 21 vessels.

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Three killed as US strikes another alleged drug boat

Venezuela has said the attacks, which have killed more than 80 people, amount to murder.

The US has released videos of boats being targeted, but hasn’t provided evidence – such as photos of their cargo – to support the smuggling claims.

Read more:
Trump may have another motive in war on drugs
The US-Venezuela crisis explained

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Venezuela claims Trump creating ‘fables’ to justify ‘war’

The Pentagon has sought to justify the strikes by labelling the drug gangs as “foreign terrorist organisations” – putting them on par with the likes of al Qaeda.

It claims the boats targeted are carrying drugs bound for the US, although Sky’s chief correspondent says the final destination is likely to be Europe and West Africa.

President Maduro has denied Mr Trump’s claims he is involved in the drugs trade himself and said his counterpart wants to oust him so he can install a more sympathetic government.

Venezuelan officials have also claimed Mr Trump’s true motivation is access to the country’s plentiful oil reserves.

Mr Maduro is widely considered a dictator who’s cheated elections and has been president since 2013.

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US

Venezuela accuses Trump of ‘colonial threat’ after US president ‘closes’ its airspace

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Venezuela accuses Trump of 'colonial threat' after US president 'closes' its airspace

Venezuela has accused Donald Trump of a “colonial threat” after he said the airspace “above and surrounding” the country should be considered closed “in its entirety”.

Mr Trump made the declaration amid growing tensions with President Maduro – and as the US continues attacking boats it claims are carrying drugs from Venezuela.

He wrote on Truth Social: “To all Airlines, Pilots, Drug Dealers, and Human Traffickers, please consider THE AIRSPACE ABOVE AND SURROUNDING VENEZUELA TO BE CLOSED IN ITS ENTIRETY.”

Air traffic above Venezuela on Saturday afternoon. Pic: FlightRadar24
Image:
Air traffic above Venezuela on Saturday afternoon. Pic: FlightRadar24

Venezuela’s foreign affairs office called it a “colonial threat” and “illegal, and unjustified aggression”.

It accused the president of threatening “the sovereignty of the national airspace… and the full sovereignty of the Venezuelan state”.

President Trump’s words were part of a “permanent policy of aggression against our country” that breached international law and the UN Charter, it added.

The Pentagon and the White House have so far not given any additional detail on the president’s statement.

Mr Trump’s post comes after the American aviation regulator last week warned of a “potentially hazardous situation” over Venezuela due to a “worsening security situation”.

Nicolas Maduro is widely considered a dictator by the West. Pic: Reuters
Image:
Nicolas Maduro is widely considered a dictator by the West. Pic: Reuters

The South American nation revoked operating rights for six major airlines that went on to suspend flights to the country.

Mr Trump warned a few days ago that land operations against suspected Venezuelan drug traffickers would begin “very soon”.

Such a move would be a major escalation in Operation Southern Spear – the US naval deployment in the Caribbean Sea and eastern Pacific that’s so far attacked at least 21 vessels.

Please use Chrome browser for a more accessible video player

Three killed as US strikes another alleged drug boat

Venezuela has said the attacks, which have killed more than 80 people, amount to murder.

The US has released videos of boats being targeted, but hasn’t provided evidence – such as photos of their cargo – to support the smuggling claims.

Read more:
Trump may have another motive in war on drugs
The US-Venezuela crisis explained

Please use Chrome browser for a more accessible video player

Venezuela claims Trump creating ‘fables’ to justify ‘war’

The Pentagon has sought to justify the strikes by labelling the drug gangs as “foreign terrorist organisations” – putting them on par with the likes of al Qaeda.

It claims the boats targeted are carrying drugs bound for the US, although Sky’s chief correspondent says the final destination is likely to be Europe and West Africa.

President Maduro has denied Mr Trump’s claims he is involved in the drugs trade himself and said his counterpart wants to oust him so he can install a more sympathetic government.

Venezuelan officials have also claimed Mr Trump’s true motivation is access to the country’s plentiful oil reserves.

Mr Maduro is widely considered a dictator who’s cheated elections and has been president since 2013.

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UK

‘A butcher who destroyed my life’: Surgeon may never return to UK to face justice over ‘botched’ operations

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'A butcher who destroyed my life': Surgeon may never return to UK to face justice over 'botched' operations

A disgraced surgeon accused of harming patients is unlikely to ever return from Libya to face justice, a lawyer familiar with the country’s legal system has told Sky News.

Former NHS Tayside neurosurgeon Sam Eljamel is originally from Libya and is believed to be operating there now.

Suspended from his work at a hospital in Dundee in 2013, Eljamel is accused by dozens of former patients of carrying out life-changing “botched” brain and spinal operations. The claims include removing the wrong body parts.

Sam Eljamel. Pic: DC Thomson & Co Ltd
Image:
Sam Eljamel. Pic: DC Thomson & Co Ltd

A public inquiry is under way and Police Scotland is examining up to 200 patient cases as part of an ongoing criminal investigation.

‘Paralysed by my surgeon’

Annemarie Pymm, a former tax worker, lives in Perth with her husband Dougie. She is paralysed and can barely speak after undergoing two brain operations by Eljamel to remove cancer and requires 24/7 care.

Sitting next to his wife, Mr Pymm told Sky News: “She can’t walk. She can’t talk. She can’t do anything for herself.”

More on Libya

Annemarie Pymm with her husband Dougie
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Annemarie Pymm with her husband Dougie

The Pymms are part of a growing group of families who are demanding answers and accountability.

“Professor Eljamel… Do you know what he has done to my wife and 200 other people? He mutilated them,” Dougie said.

Eljamel was head of neurosurgery at NHS Tayside from 1995 to 2013. He was lauded as one of Europe’s leading brain surgeons and boasted a CV that was pages long.

When allegations of malpractice first emerged, NHS bosses allowed the surgeon to operate on a further 111 patients unsupervised despite being under clinical supervision.

Health chiefs have since admitted patients were put at unnecessary risk.

Protesters outside the Scottish Parliament asking for a public inquiry into the care given to patients by Eljamel. Pic: PA
Image:
Protesters outside the Scottish Parliament asking for a public inquiry into the care given to patients by Eljamel. Pic: PA

His final NHS patient: ‘I sued and won’

One of those patients was Jules Rose, who is now the lead campaigner in this scandal.

Medical notes reveal Ms Rose, who lives in Kinross, had a tear gland removed instead of a brain tumour during Eljamel’s last ever surgery on Scottish soil.

She was unaware he was under investigation at the time and has since won a successful lawsuit against the NHS.

Jules Rose
Image:
Jules Rose

She said: “Where were the checks and balances in all of this? Where were the systemic processes that Eljamel should have been going through?”

The former marathon runner describes Eljamel as a “butcher” who has destroyed her life.

Sky News contacted the hospital in Misrata, Libya, where Eljamel is thought to be employed. An employee confirmed he works there almost every day but declined our request to speak directly to him.

A campaigner outside the Scottish Parliament in February. Pic: PA
Image:
A campaigner outside the Scottish Parliament in February. Pic: PA

Will Eljamel ever be extradited to UK?

A formal extradition treaty exists between the UK and Libya, allowing Libyan nationals to be sent back to Britain in certain criminal circumstances.

Professor Peter Watson is a senior lawyer who represented British families in the decades-long diplomatic and legal battle with Libya over the Lockerbie bombing, the UK’s worst-ever terror attack.

All passengers and crew on board Pan Am flight 103 were killed when the plane exploded over the Scottish town in 1988.

Read more from Sky News:
Suspect in National Guard shooting charged

British man missing after falling from cruise ship

The subsequent investigation, involving Mr Watson, centred on discussions with authorities in Libya after various Libyan nationals were accused of the terror attack.

Sky News visited him to ask him, with his knowledge of how the system operates there, his views on the prospect of Eljamel being brought back to Scotland to face any formal charges, if any were brought forward.

Professor Peter Watson speaks to Sky's Connor Gillies
Image:
Professor Peter Watson speaks to Sky’s Connor Gillies

Mr Watson told Sky News: “I think the challenge is probably too big. The steps that Crown Office and the police would be required to take would require the cooperation and agreement of the Libyan authorities. It is difficult to see how that would happen.”

He concluded: “Libya is a country in turmoil. Various factions are fighting to take control of various parts. You’d have to persuade the Libyan authorities that it was in the interests of their citizens and of Libya for this process to take place.”

A protester's sign outside the Scottish Parliament in 2023. Pic: PA
Image:
A protester’s sign outside the Scottish Parliament in 2023. Pic: PA

Public inquiry gets under way

In 2021, a Scottish court ordered Dr Eljamel to pay a former patient £2.8m in compensation after a judge ruled the surgeon was entirely to blame for leaving a woman with serious disabilities.

A judge-led independent public inquiry examining what went wrong is now under way in Edinburgh.

It is examining, among other areas, failures including a lack of effective systems to pick up on recurrent mistakes by surgeons during Eljamel’s tenure in Scotland.

Earlier this week, it emerged that 40 hard copy theatre logbooks containing information on surgeries carried out by Eljamel between 1995 and 2013 had been destroyed.

They were wrecked in July this year despite a formal “Do Not Destroy” order being in place for the inquiry.

NHS Tayside has apologised and said it will fully comply with the investigations and inquiries.

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