Larry Summers Comes Clean Ahead Of J-Hole, Admits Central Planners Are Impotent

Thursday, August 22, 2019
By Paul Martin

by Tyler Durden
ZeroHedge.com
Thu, 08/22/2019

Larry Summers is not one to be shy about sharing his opinion on any and every media channel about just how bad President Trump’s policies are, and how much better everything was in the world under President Obama.

However, in an epic thread of apparent honesty, the former director of the National Economic Council for President Obama took to Twitter to dispel any myths about the omnipotence of central planners and to confirm there’s nothing anyone can do to save the world from doom (especially Jay Powell’s speech tomorrow).

You decide…

Summers begins his diatribe by addressing the big imminent issue ahead of us:

“Coming into Jackson Hole, economists are grappling with a major issue: Can central banking as we know it be the primary tool of macroeconomic stabilization in the industrial world over the next decade?”

The Rest…HERE

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