In January, Larry Kudlow called it a "Goldilocks Economy", what does the genius say now?

[El Pinko]

"I'm a putz. You can tell because I wear a blue shirt, white collar and a yellow tie."


(From Jan. 8, 2008)

http://article.nationalreview.com/?q=MDFlMzUwODVkOWEzZGIyYjI2OWFmMTE5NGQ3Mjg4Mjk=


Goldilocks Needs Tax-Reform . . .
. . . not root-canal economic populism.

By Larry Kudlow

Yes, corporate profits are slowing and jobs are softening. Despite 52 months of ongoing jobs gains and 1.3 million new payrolls in the past year, December jobs registered only 18,000 and the unemployment rate ticked back up to (a still historically low) 5 percent. Despite years of gains from a booming business sector, corporate profits are in fact falling at about a 6 percent clip.

But the last thing we need now is root-canal economic populism from the campaign trail and the mainstream media telling us that Americans are unhappy. Unhappy? According to a Gallup Poll released last week, “Most Americans say they are generally happy, with a slim majority saying they are ‘very happy.’” They’re also prosperous. According to Investor’s Business Daily, household wealth in the U.S. soared 51 percent to $58.6 trillion in last year’s third quarter from $38.8 trillion in 2002. Meanwhile, the Goldilocks economy remains alive and well. It’s still the greatest story never told. And while Goldilocks may have softened somewhat, getting her back on track is not rocket science.

The key thing to remember is that businesses drive the economy. Businesses create jobs and incomes for consumers to spend. Today’s John Edwards/Mike Huckabee anti-business populism sounds more like William Jennings Bryan than Adam Smith. It’s absolutely crazy. They attack Wall Street and investors, which is another way of attacking capital. Without capital investment, there will be no new business, no new jobs, and no middle class.

And the reality is that today’s economic weakness is coming from the business side, not the sub-prime/housing/consumer side. We’re witnessing high energy and raw-material prices cause unit costs for businesses to rise faster than prices. That spells weakening profits.




Blah blah - the economy is great, all we need is MORE TAX CUTS (will they ever be satisfied?) Kdlow also calls for another 50 basis point cut by the fed (which we got, and then some, along with the massive inflation and dollar debasing that goes with it)





Okay, so what is this putz saying now?




(From March 4, 2008)

http://article.nationalreview.com/?q=ZDg1N2Q2ZGFjOGYzMDliZGM2ZDg1NjU1ODRjODE3ZmU=


Resurrect King Dollar
The sinking greenback is being ridiculed both at home and overseas.

By Larry Kudlow

If Sen. John McCain wants to run as a candidate of change, and if he’s interested in distancing himself from President Bush on some issues, he should reverse the declining fortunes of the Bush wartime dollar. America’s prestige is on the line.

With inflation spurting in the U.S., the sinking dollar is being ridiculed both at home and overseas. The falling dollar is perceived as a sign of American decline — which is a very bad sign.

Main Street voters hate soaring food and gasoline prices. Suburban voters who take vacations are very angry. Gold at $1,000 an ounce?! Oil at $100 a barrel?! What’s going on here? Is this America?

The people in charge of the dollar at the Treasury and the Federal Reserve are guilty of dollar neglect. They’re also Republican appointees, and the GOP will take the blame in November. The Treasury says a strong dollar is in the nation’s interest? Huh? The Fed says it’s targeting price stability? Huh?








And what might his prescription be a mere two months later? Well, no mention of the money-supply growth he advocated before which is largely to blame for the weak dollar.

Instead, he now calls for (drum roll) a cut in the capital gains tax, and suggests that McCain should somehow browbeat other countries into bolstering the dollar's value.

:eyes:


Can someone explain to me why ANYONE listens to this clown, or his old partner Cramer (who has managed to give more bad stock picks in the last year you can shake a stick at) for financial advice or economic wisdom?

[Captain Angry]

1. Did you put the putz tag under Kudlow's name?

I laughed out loud on that one. That's just funny.

Cramer was very successful in business and drives ratings. I haven't seen his show in over a year I think. But last time I looked, he was on the verge of becoming Emeril, having a house band and a live studio audience.

[El Pinko]

4. Nothing screams putz like the old blue shirt, white collar, yellow tie combo

It was obnoxious in the 80s, but at this point it's obnoxious, hopelessly outdated and almost screams desperation. "I'm a big-time successful yuppie! Really"

I wouldn't trust a man in that combo any further than I could throw him.

[Captain Angry]

11. Much like when Tucker wears a bow-tie.

What a dork.

You can make a fashion statement when you're above reproach. When you're a tool, it just makes you look that much dumber.

Take Greg Palast. He wears that ridiculous hat and acts like he's in a spy novel. But all that's just fine because he produces some of the best information out there.

The morons don't.

[Selatius]

2. He sings to the choir of neoliberals who want any external sign of affirmation.

He gives them that reassuring affirmation.

He is an extremist in economic views. If we really wanted to boost the economy, we would end the war in Iraq and slash the Pentagon budget from 600+ billion to 300 billion. The money freed up would be invested into poverty relief programs and investments in job training programs, job placement programs, relief from high tuition for college students, etc.

Other money could be used to boost local economies in Mississippi and Louisiana by opening a Works Progress Administration-like agency to rebuild areas in the footprint of Katrina. It would pump money into the local economies and put people back to work. The WPA could be expanded with a mission to repair and upgrade infrastructure nationwide with perhaps plans to build high-speed bullet trains to facilitate trade and travel between major urban centers.

Longer-term investments can be made in terms of hiring more qualified teachers for our public schools and investments in health care infrastructure, perhaps seed money for a public health insurance agency that won't tack on profit mark-ups and won't deny care simply to protect profit margins like with private insurance.

A billion spent on war is a billion not spent on jobs, education, infrastructure, and health care. Today, these kinds of proposals seem out of place in Washington, but it was the rule of the day 70 years ago under FDR and Truman.

[El Pinko]

6. I could deal with bankrupting the country for a war, if it was a necessary one...

...even if the rationale POS Bush & co. gave for the Iraq war had been true in any degree, the invasion was utterly unnecessary. Iraq had been completely contained and nonaggressive to its neighbors for 12 years.

I opposed the war even when I thought there was a chance Saddam did have WMD. The fact that it was all made-up bullshit makes the pill that much more bitter.

[Arctic Dave]

3. He's always been the Neo-Liberals version of Baghdad Bob. n/t

[DCKit]

5. It IS just like Goldilocks....

except the bears came home and ate the little, home-invading, food-stealing be-otch.

[Mountainman]

7. What world does he live in? Most Americans are happy? Why because gas prices keep rising and their

commute is costing more and more each week? And they don't see a raise coming anytime soon. In fact they will have to pay more for less medical coverage also. And food and utilities keep rising with the price of everything else. The value of their homes is declining meaning the one thing that means savings in their lives is going negative. Net wealth is now smaller than ever. The repuke party runs a guy who isn't the least bit concerned about domestic problems, just terror terror terror.

[chimper]

8. KRUDLOW and CRAMER are both ...

embarrassing and ignorant wall st cheerleaders.

i think they are both insane the way they act.

i'm serious.

[truebrit71]

9. Larry Kudlow is a right-wing gasbag. Fuck him and anyone that listens to him.

...

[Johonny]

10. I wouldn't let this guy

bag my groceries let alone give me economic advise. Shh don't tell him that many Americans can be happy without making money. Money doesn't equal happiness