Wednesday, March 21, 2018

Enter Kudlow...for Now

President Trump fired Cohn and hired Kudlow as the top economic adviser. His administration is taking on a scary resemblance to Trump's reality TV show, The Apprentice. When that TV show first aired, it had a similar tone to the then, New York Yankee owner, George Steinbrenner. George was noted for his rash decisions on his employees, "You were hired to be fired." As president, Trump is like his reality program with the "Donald's" signature line, "You're fired!" This is his tone as president.
Enter Kudlow
President Trump says Kudlow and he are a perfect blend. This will be good for America. This is pure BS! Why, you ask? Because Kudlow has been around a long time with a book, media exposure, worked on Wall St. and past administrations - all Republican.
Before I jump on this too-bit shill, let me refresh you with his past proclamation's and predictions.
As stated above, he has worked with Laffer when Laffer was the top dog for the Reagan presidency. His economic wisdom was caught under this slogan, "trickle down effect." This meant tax cuts for the rich even though it ballooned our national deficit. The act would cause money to circulate all the way down to ordinary citizens. The only thing right about it was workers got (trickle) crumbs. This is the era where our factories closed and jobs were outsourced. I say no more!
Kudlow also worked at Bear Stearns. The company went bankrupt! I say no more!
Kudlow also worked for the Fed. He loves the easy money, although he says he is for a strong dollar. Just recently, he urged the new Fed chairman to go very slow and even pause with rate hikes. Now, rate hikes would strengthen the dollar, but stopping those hikes or even pauses, let's the market digest our horrible deficits. Not good. As this example shows, he denies the truth of easy, fiat money. He speaks from both sides of his mouth. Too bad our native Americans don't get media exposure because their expression nails it, "Speaks with a forked tongue."
He counseled the Bush administration. He advocated in 2002 to attack Iraq and take out Saddam Hussein because they had weapons of mass destruction. They posed an immediate danger to us and the world. This was pure BS, but what he was doing was shill work. He toyed with American thinking and public opinion. He laced the ground work for Bush to begin the Iraqi War in March 2003. It gets worse.
Kudlow Prediction
When the war started, Kudlow had his voice reach our homes through his job at CNBC. He had a feature called, "Kudlow Report." He predicted that the war would end quickly. Wrong!
He said that the Iraqi citizens would be glad that Saddam was gone; they would gladly use their oil to repay us for the cost of the war. Wrong! Not only wrong, but pure BS!
The man is a shill for war mongers, defense contractors and a real danger for us and the world. I'm sorry. This type of person, an entrenched status quo, gets me sick and thus, sometimes a combative ego arises to put him in his place. Continuing...
From CNBC in 2007, he declared that there was no danger of a recession. Even as late as July 2008, he repeated his claim. Totally wrong!
He supported the Bush tax cuts even as they pushed our national deficit into the trillion dollar category. Even as housing recovered under president Obama, he said housing would collapse again.
He supported the Trump candidacy, but cautioned the idea of tariffs. He said that they would be bad for trade. In addition, during this pre-election cycle, he claimed that Fed chair-person, Janet Yellen, needed to act on inflation. Inflation would damage the economy. He was wrong, although correct if food, energy and housing were including in the inflation mix to determine its level. By the way, he doesn't include those necessities. The only economic prediction that he had right was claim that if Trump won, the markets would rise. Correct!
The man is a globalist. If Trump is for America, this is pure conflict. He claims to be on board with Trump's tariffs on steel and aluminum. However, he is against tariffs in general. This means he is for globalization which is destroying our workers and our standard of living. By the way, our national deficit topped $21 trillion to which I predicted would happen this year. Do you remember Bush declaring that we would have a surplus going forward? And by now? Kudlow endorsed his tax cuts when Bush was president and he agreed to this BS prediction. Keep in mind that this also means he is against unions and worker's protections. He is for the status quo, the greedy and not for what is best for America. He is destined to be FIRED!
And the beat goes on...