Larry Kudlow Now Just Plain Old Lying On National Television About The Deficit, Because Who Even Cares Anymore, Right?
Boy, I'll tell you what, Fox News is having one helluva day when it comes to cramming lies down the throat of the American public. And look, that's saying something. Because Fox's raison d'Ãªtre is lying to the public. So when they're doing so much lying (or otherwise giving Trump administration officials a forum from which to lie) that it merits special mention, well then that's truly remarkable. Earlier today, former CNBC star (and current embodiment of the phrase "what the actual fuck?")
7 thoughts on “Larry Kudlow Now Just Plain Old Lying On National Television About The Deficit, Because Who Even Cares Anymore, Right?”
Are you kidding?!!
If Maria challenges Larry on live TV, she’ll never get him or prolly any other Admin officials for an interview.
I miss Mark Haines, he was the last sheriff on financial TV.
Massive tax cuts for the filthy rich? Check. Falling revenues and increasing social spending? Check. All systems go. Time to roll out the next cuts to the things that benefit the majority. Like the past 40 years, the beat goes on. This country needs a good shot of socialism, a shot that will make the moneyed class whimper and pray for the benevolent tax code of the 1980s.
Kudlow is such a hypocrite. He’s also publicly telling the Fed to back off on interest rates. What happened to the Fed’s independence from political bias?
So the deficit is decreasing, according to Kudlow, and interest rate hikes need to be tempered down. That’s a great combination for encouraging more reckless spending by the government. That’s great Larry, This is the world according to Larry. Who cares about what’s actually good for our future economic growth. Just keep those rates down, let the government continue to jack up the deficit, and just give him all those beautifully inflated financial asset bubbles.
I’m all for being careful about interest rates and recessionary pressure, but Larry doesn’t care about these things. He really doesn’t. He’s more concerned about doubling his 25M net worth prior to retirement via ever increasingly inflated asset bubbles. He’s more concerned about giving more slack to the government relative to spending via continued low interest rates. He’s thinking about his exit, his retirement.
Keep that growth going and don’t worry about the ramifications of trillions upon trillions of dollars of fiscal debt, right Larry? How about some throwing in some more good old QE too Larry?
Larry Kudlow has been known to glibly quote the 18th-19th century economist Jean Baptiste Say by stating that “Supply creates its own demand”. On the face of it, this is the economic equivalent of the long discredited theory in chemistry known as spontaneous generation. Digging a little deeper, as Larry has done on occasion, yields something akin to the economic equivalent of perpetual motion. Another discredited theory.(No, time crystals are not perpetual motion systems because the state must be maintained). Say claimed that every good produced and/or service provided begets further commensurate production of goods and/or provision of services. This was not a valid statement in Say’s day, and continues to ring falsely. A significant portion of wealth generated then and now is stored in assets and/or as savings. Assets and savings are neither goods nor services. To claim that at some point in the indefinite future those assets and savings will be converted into goods and/or services is a hollow contention. Throughout history wealth has been horded without a commensurate conversion of that wealth into the production of goods and/or the provision of services, and it continues today in spades. This utterly specious notion lies at the heart of Larry Kudlow’s economic paradigm. This why I say that Larry preaches the Gospel According to Peter Pan. To more thoroughly understand just how obtuse(an homage to Andy Dufresne) Larry’s economic views are read the Washington Post’s opinion piece dated 3/15/18 entitled “Larry Kudlow may have been more wrong about the economy than anyone alive”. Anyone with sense and sensibility who reads this article and then attempts to look at the economic world through Larry’s eyes should be prompted to pose the same question that Queen did in “Bohemian Rhapsody”: “Is this the real life, or is this just fantasy?”. The answer should be obvious.
When is the last time the US ran a public account deficit over 5% of GDP??
When Trump first announced Kudlow as his choice, I wrote that his choice’s brain was fried, thereby preemptively handing him a permanent excuse – so to speak – for all the stupid, idiotic and false statements I expected him to babble on bahalf of Destrcuto, his new patron saint.
Between fried brain, heart attack, turning 70 and carrying the burden of Director of the US National Economic Council and having a saint up his ass, he has not disappointed any of my expecations.