- Since 2008, the government has decided that the economy never goes into recession and will borrow and print dollars to make that the case.
- Fiscal caution has been thrown away.
- Debt to GDP has soared since 2007 to well over 100%.
- There were other ways to get through covid, but politicians borrowed from the future.
- Money supply has exploded and prices can explode by many multiples (inflation) -- it is all a game about expectations!
- Once inflation takes off it is very difficult to control..
Professor Laurence J. Kotlikoff
Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc., a company specializing in financial planning software. An active columnist, Professor Kotlikoff's columns and blogs appear in the Financial Times, Bloomberg, Forbes, Vox, the Economist, Yahoo.com, and the Huffington Post. Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977.
From 1977 through 1983 he served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981-82 Professor Kotlikoff was a Senior Economist with the President's Council of Economic Advisers.
Professor Kotlikoff is author or co-author of 16 books and hundreds of professional journal articles. His most recent books are The Clash of Generations (co-authored with Scott Burns, MIT Press), The Economic Consequences of the Vickers Commission (Civitas), Jimmy Stewart Is Dead (John Wiley & Sons), Spend Til the End, (co-authored with Scott Burns, Simon & Schuster), The Healthcare Fix (MIT Press), and The Coming Generational Storm (co-authored with Scott Burns, MIT Press) and Generational Policy (MIT Press).
Professor Kotlikoff's writings and research address financial reform, personal finance, taxes, Social Security, healthcare, deficits, generational accounting, pensions, saving, and insurance.
Professor Kotlikoff has served as a consultant to the International Monetary Fund, the World Bank, the Harvard Institute for International Development, the Organization for Economic Cooperation and Development, the Swedish Ministry of Finance, the Norwegian Ministry of Finance, the Bank of Italy, the Bank of Japan, the Bank of England, the Government of Russia, the Government of Ukraine, the Government of Bolivia, the Government of Bulgaria, the Treasury of New Zealand, the Office of Management and Budget, the U.S. Department of Education, the U.S. Department of Labor, the Joint Committee on Taxation, The Commonwealth of Massachusetts, The American Council of Life Insurance, Merrill Lynch, Fidelity Investments, AT&T, AON Corp., and other major U.S. corporations.
He has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the House Ways and Means Committee, and the Joint Economic Committee.
To visit the web page, please: click here.