{"id":2299,"date":"2010-11-16T07:31:51","date_gmt":"2010-11-16T14:31:51","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=2299"},"modified":"2018-08-17T09:06:53","modified_gmt":"2018-08-17T13:06:53","slug":"get-real-larry-summers","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2010\/11\/16\/get-real-larry-summers\/","title":{"rendered":"Get real Larry Summers"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">Yesterday Larry Summers, Director of the White House National Economic Council, said that China would be the &#8220;central American challenge going forward&#8221; with regard to the future of the U.S. economy.\u00a0 Get real!<\/span><\/p>\n<p><span style=\"font-size: 16px;\">First of all, the central challenge of any economy at any time is to create <em>real<\/em> economic growth.\u00a0 That is, economies succeed or fail based on their ability to create efficiencies or to innovate.\u00a0 This will always be the case and with no variation.\u00a0 The number two challenge, whatever it is, will always be a distant number two compared to the creation of real economic growth.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Second, let&#8217;s consider the source of this statement.\u00a0 Yes, Larry Summers has economic props.\u00a0 However, he is a spokesperson for the White House.\u00a0 The last time I checked the Obama Administration just lost control of Congress.\u00a0 That means that it also lost control of the domestic agenda.\u00a0 That means that if it wants to improve its chances for re-election in 2012 that it needs to activate and motivate the average U.S. citizen with a non-domestic agenda.\u00a0 Hmmm.\u00a0 Would that mean foreign policy?\u00a0 Probably.\u00a0 What is the easiest foreign policy battle to win in the next 15 months, which is the time of the\u00a0Iowa caucuses?\u00a0 Hit China!<\/span><\/p>\n<p><span style=\"font-size: 16px;\">It&#8217;s not that the Chinese are playing fair economically.\u00a0 Their currency is held massively artificially low so that Chinese goods are artficially CHEAP.\u00a0 So their economy is artficially strong.\u00a0 But this is not news to anyone.\u00a0 This has been the state of affairs for two decades.\u00a0 So Larry Summers&#8217; comments,\u00a0even though they are\u00a0politically sexy,\u00a0are just not accurate.\u00a0 More likely he has been sent out to start kicking the Chinese.\u00a0 If this sort of kicking from members of the Obama Administration plays well with the U.S. public expect this to become the huge and central issue in the upcoming electioneering season.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday Larry Summers, Director of the White House National Economic Council, said that China would be the &#8220;central American challenge going forward&#8221; with regard to the future of the U.S. economy.\u00a0 Get real! First of all, the central challenge of any economy at any time is to create real economic growth.\u00a0 That is, economies succeed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-2299","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/2299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=2299"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/2299\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=2299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=2299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=2299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}