Larry Summers, Director of the White House National Economic Council, was invited to deliver a lecture at the Economist’s Buttonwood Gathering which took place last week. Mr. Summers has received high praise from Berkshire Hathaway Vice Chairman Charlie Munger who is a self-described “right-wing Republican”. Combined with Mr. Summers’ high position in government, no further endorsements are needed for intelligent investors to pay close attention to the views expressed in the video shown below.
President Obama’s chief economic adviser has indicated that he expects unemployment to stay at elevated levels for “a few years”. In a candid interview with Nightly Business Report, National Economic Council Director Larry Summers did not express much hope for a quick drop in unemployment. Read this article for more details.