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Larry Kudlow may have been more wrong about the economy than anyone alive
Opinions
Larry Kudlow may have been more wrong about the economy than anyone alive
By Dana Milbank Opinion writer March 14 at 7:26 PM dana.milbank@washpost.com
It was the eve of the biggest economic collapse since the Great Depression. Many on Wall Street worried that a recession loomed and that the housing bubble was bursting. ... And then there was Larry Kudlow, the man President Trump just tapped to be his top economic adviser.
“Despite all the doom and gloom from the economic pessimistas, the resilient U.S. economy continues moving ahead,” Kudlow wrote on Dec. 7, 2007, in National Review, predicting that gloomy forecasters would “wind up with egg on their faces.” Kudlow, who previously derided as “bubbleheads” those who warned about a housing bubble, now wrote that “very positive” news in housing should “cushion” falling home sales and prices.
“There’s no recession coming. The pessimistas were wrong. It’s not going to happen,” wrote Kudlow. “ .?.?. The Bush boom is alive and well. It’s finishing up its sixth consecutive year with more to come. Yes, it’s still the greatest story never told.” ... If that was the greatest story, this should be a close runner-up: Trump has just put the country’s economic fate in the hands of the man who has arguably been more publicly and consistently wrong about the economy than any person alive.
....
All of this is to say Kudlow should fit right in with his new colleagues in the Trump administration. ... This is the same president, after all, who tapped to be the chief scientist at the Agriculture Department a talk-radio host who is not a scientist, named a brain surgeon to run the Department of Housing and Urban Development and floated the idea of his personal pilot as head the Federal Aviation Administration. A party planner, a bartender, a Meineke Car Care branch manager and a cabana boy all found plum administration jobs.
....
Dana Milbank writes about political theater in the nation’s capital. He joined the Post as a political reporter in 2000.
Follow @Milbank
Larry Kudlow may have been more wrong about the economy than anyone alive
By Dana Milbank Opinion writer March 14 at 7:26 PM dana.milbank@washpost.com
It was the eve of the biggest economic collapse since the Great Depression. Many on Wall Street worried that a recession loomed and that the housing bubble was bursting. ... And then there was Larry Kudlow, the man President Trump just tapped to be his top economic adviser.
“Despite all the doom and gloom from the economic pessimistas, the resilient U.S. economy continues moving ahead,” Kudlow wrote on Dec. 7, 2007, in National Review, predicting that gloomy forecasters would “wind up with egg on their faces.” Kudlow, who previously derided as “bubbleheads” those who warned about a housing bubble, now wrote that “very positive” news in housing should “cushion” falling home sales and prices.
“There’s no recession coming. The pessimistas were wrong. It’s not going to happen,” wrote Kudlow. “ .?.?. The Bush boom is alive and well. It’s finishing up its sixth consecutive year with more to come. Yes, it’s still the greatest story never told.” ... If that was the greatest story, this should be a close runner-up: Trump has just put the country’s economic fate in the hands of the man who has arguably been more publicly and consistently wrong about the economy than any person alive.
....
All of this is to say Kudlow should fit right in with his new colleagues in the Trump administration. ... This is the same president, after all, who tapped to be the chief scientist at the Agriculture Department a talk-radio host who is not a scientist, named a brain surgeon to run the Department of Housing and Urban Development and floated the idea of his personal pilot as head the Federal Aviation Administration. A party planner, a bartender, a Meineke Car Care branch manager and a cabana boy all found plum administration jobs.
....
Dana Milbank writes about political theater in the nation’s capital. He joined the Post as a political reporter in 2000.
Follow @Milbank
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