In fact, if Summers and Dimon are even making sense, the wheels have already come off.

Why aren't these two sounding like the economic hitmen that they are? Because they are warning of the Biden Administration's completely insane spending plans. Spending plans that will indeed cause inflation in the United States.

Joe's recent equation adds up to an economic disaster
To be clear, it isn't necessarily the numbers as much as it is the method. In other words, the Biden Administration is not considering credit stimulus but a mix of buying bonds, borrowing, and printing. Combined with the plan to spend drastic amounts, this is a recipe for economic disaster.

The White House is digging in its heels defending President Biden's $4 trillion spending plan. Meanwhile, JP Morgan Chase CEO Jamie Dimon warns that this unprecedented amount of stimulus could lead to runaway inflation.

When testifying before the Senate Banking Committee, Dimon raised his concerns over the future inflation. Insisting the Federal Reserve may need to raise interest rates sooner to clamp down on rising prices. He said that he expects inflation to climb "considerably higher" than 1.6%, thanks to spending and federal monetary policies.