Saturday, April 21, 2012
Mike's Appearance on CNBC Last Evening
Video below from Mike's latest appearance on Larry Kudlow's show. Mike provides an objective assessment about how fiscal policy over the last several years has led to the, at best, so-so, and output deficient economy we have experienced and how this has still been a pretty good environment for corporate profits and hence the stock indexes.
Larry doesn't seem to think the small amount of growth we have been experiencing is "real", but of course it must be. I'm sure though Larry would have to agree that a tax cut at this point would be stimulative, if so, he would more or less be agreeing with Mike as a broad tax cut at this point would immediately increase the deficit and NFA flows.
Larry doesn't exhibit any "debt doomsday" type of rhetoric in response to Mike's comment that we have been running a 7%-ish deficit so that at least was a positive for Larry.
A typical debt doomsday response at that point would have been something like: "Yes, and how are we going to pay that back?" or; "Yes, and that is unfair to our grandchildren.". So perhaps Larry at core doesn't buy into the debt doomsday falsehoods.
Rock on Mike.