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« HOT LINKS: U.S. Manufacturing Index Unexpectedly FALLS | Main | TIME LAPSE: Presenting The U.S. Housing Bubble »
Monday
Dec032012

Larry Summers On The Next U.S. Debt Downgrade

Summers on the cliff, last week on Bloomberg.  Runs 1 minute.

Fresh from his nap.

'Nobody who holds Treasuries should worry about getting paid.  The U.S. will meet all its obligations.'

If you remember, both Summers and Geithner guaranteed last year that the U.S. would never be downgraded, and then it happened a few months later, in August of 2011.  So Mr. Somnolence is choosing his words quite carefully in this clip.

---

Full interview:

Larry Summers on the economy, cliff, deficit, spending and taxes.

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Here's a bonus:

Larry Summers As Realized In Cinema From The Social Network

Evidently, this meeting with the Winklevoss dipshits was before Larry's afternoon nap.  Had Summers invested just $1 million from the Harvard endowment in Zuckerberg's idea for a college-only social network, he would have made at least $1 billion (first investors in Facebook earned more than 1,000 times their investment with the IPO, and Harvard could have been the very first).

How Larry Wrecked Harvard's Endowment:

 

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Reader Comments (8)

Dear Larry:

I know Santa Claus and you are not on his list for that snowmobile.

john
Nov 29, 2012 at 7:50 PM | Unregistered Commenterjohn
Larry nearly bankrupted Harvard now he's trying to finish ruining America along with tax cheat geithner and obama

How Larry Summers lost Harvard $1.8 billion

http://blogs.reuters.com/felix-salmon/2009/11/29/how-larry-summers-lost-harvard-18-billion/

Why Larry Summers lost the presidency of Harvard

http://mathbabe.org/2012/03/11/why-larry-summers-lost-the-presidency-of-harvard/

WASHINGTON PROPOSES $1 TRILLION BAILOUT FOR DELINQUENT STUDENT LOANS

http://www.breitbart.com/Big-Government/2012/11/29/1-Trillion-Dollar-Bailout-The-Student-Loan-Catch-22

Fiscal Cliff: Why Congress Might Have to Mess with the 401(k)

http://business.time.com/2012/11/28/fiscal-cliff-why-congress-might-have-to-mess-with-the-401k/


Private Savings Accounts May Be "On the Table" in Fiscal Cliff Talks

http://www.nationalseniorscouncil.org/

McConnell 'Burst Into Laughter' as Geithner Outlined Obama's Plan

http://www.weeklystandard.com/blogs/mcconnell-burst-laughter-geithner-outlined-obamas-plan_664210.html


Sen. Sessions (R-AL): Geithner's 'Secret' Offer a 'Fantasy'

http://www.breitbart.com/Big-Government/2012/11/29/Sen-Sessions-Obama-plan-fake

Hurricane Sandy May Cost Taxpayers $80 Billion

http://www.breitbart.com/Big-Government/2012/11/29/Hurricane-Sandy-May-Cost-Taxpayers-At-Least-80-Billion

Obama Recovery: Median Household Wealth Down Dramatically, Top 1% Up 71%

http://www.breitbart.com/Big-Government/2012/11/28/Median-household-wealth-down

Forward! Obama Privatizes Medicare for 3 Million 'Dual-Eligible' Low-Income Seniors

http://www.forbes.com/sites/aroy/2012/11/30/forward-obama-privatizes-medicare-for-3-million-dual-eligible-low-income-seniors/

Morgan Stanley CEO Pushes 'Fiscal Cliff' Bipartisanship As Bank Lobbies For Tax Breaks

http://www.huffingtonpost.com/2012/11/28/morgan-stanley-ceo-fiscal-cliff_n_2205756.html?utm_hp_ref=business

The Great American Retirement Scam: Why The Wealthiest CEO's In America Want To Take Away Your Social Security

http://www.forbes.com/sites/rickungar/2012/11/28/the-great-american-retirement-scam-why-the-wealthiest-ceos-in-america-want-to-take-away-your-social-security/

Also

Medical Tyranny is Here, and we can’t say we weren’t warned

http://www.oldthinkernews.com/2012/11/benjamin-rush-medical-freedom/#comment-98422

Flu Fascism: 150 Healthcare Workers Fired for Refusing Flu Shot

http://www.thehealthyhomeeconomist.com/flu-fascism-150-healthcare-workers-fired-for-refusing-flu-shot/
Nov 30, 2012 at 1:13 AM | Unregistered CommenterLadyLiberty
I know this is completely stupid and without merit, but just how the hell are we supposed to pay for this huge albatross of a medical system that is coming in two years. This just seems that we will continue into the abyss. I just can't stand it. DB your pops is a Doc right? What does he think about alll this in regards his practice?
Nov 30, 2012 at 7:27 AM | Unregistered CommenterSKINFLINT
("but just how the hell are we supposed to pay for this huge albatross of a medical system that is coming in two years.")

Maybe charge and prosecute the thieving parasite multinational corporations and Wall Street Banks and claw back a few of the trillions they've stolen, might be a good way to start.
Nov 30, 2012 at 11:33 AM | Unregistered CommenterSagebrush
Women and Science: A Look at Harvard Pres. Larry Summers

http://www.democracynow.org/2005/1/25/women_and_science_a_look_at

[snip]

Harvard University president Lawrence Summers created a firestorm earlier this month for claiming that women have less innate scientific ability than men. We speak with the Nancy Hopkins, the MIT professor who walked out of Summers’ speech as well as Dave Targan, the Dean of Science Programs at Brown University.
Nov 30, 2012 at 6:50 PM | Unregistered Commenterjohn
The bankers, the politicians, Wall Street crooks, corporate clowns and justice dept. thugs all go to the same church. Burning down the church is the only way to deal with them.
Dec 4, 2012 at 4:48 AM | Unregistered Commenterchiller
Naming Names – Obama Contributors and the Stimulus Scandal (Page 2 of 2)

A who's who list of Barack Obama contributors and recipients of his $787 billion stimulus program.

http://www.whiteoutpress.com/articles/q12012/obama-contributors-and-the-stimulus-scandal-page-244/

[snip]

First Wind – Received $232 million in stimulus funds. An audit revealed the money only created 125 jobs.

David Shaw: Founder of DE Shaw. Obama bundler and one of the top 3 donors to the Democratic Party. Largest shareholder of First Wind.

Larry Summers: Part owner of First Wind. Obama’s Chief Economic Advisor.
Dec 4, 2012 at 6:50 AM | Unregistered Commenterjohn
Sagebrush good luck with that under obama lol

Financial Fraud Conviction Scorecard:

Bush: 1300+, Clinton: 1000+, Obama: 0.0 (+/-)

http://dailybail.com/home/convicted-bush-1300-clinton-1000-obama-00.html
Dec 4, 2012 at 10:16 AM | Unregistered CommenterLadyLiberty

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