Bloomberg/Chris Antsey/2-28-2022
“In the same way that President Franklin D. Roosevelt pivoted from battling the Great Depression to winning World War II, Biden “needs to shift from being the ‘protect the middle class from the pandemic’ president to being ‘prepare America for the struggle ahead’ president,’ Summers told Bloomberg Television’s ‘Wall Street Week’ with David Westin on Friday. He said he was hoping for a ‘real change in tone.’”
USAGOLD note: There are three differences between 1939 and 2021 that immediately come to mind. One, the United States did not have a national debt of $30.2 trillion (in fact it had zero debt). Two, the Federal Reserve did not have a balance sheet of $8.4 trillion. Three, Joe Biden is no Franklin Delano Roosevelt.
