Wednesday, March 14, 2018

Trump picks Kudlow. I am going to make a fortune.

Tom put it correctly a short while ago when he called it a descent into farce.

Larry Kudlow is a moron, there's no two ways to put it.

From his goofy "Free market capitalism is the best path to prosperity," chants to his jingoistic, "King Dollar" slogan, the guy is a quack.

Kudlow got everything wrong in the crash.

1) He predicted hyperinflation from the Fed's monetary policies.
2) He said the dollar would crash. (Also from the Fed's policies.)
3) He said that interest rates were going to skyrocket because "creditors" wouldn't "lend" to us anymore.

I will say this about him, though...the guy seems to have nine lives. He was Chief Economist at Bear Stearns, but got fired because he was a coke addict.

Then he bounced around and eventually got hired by CNBC. They gave him a show which got canceled because of lousy ratings, but they kept him on and still paid him a 7-figure salary.

Now this.

The guy is a joke. He is supply-side zombie. A fool.

One thing I can tell you: he's going to pump up inflation like crazy with more tax cuts. And rates WILL skyrocket this time as the Fed reacts and then hikes and hikes and hikes.

Oh, Mr. King Dollar? He will end up crashing the dollar even faster than Trump has been able to do so far.

I'm gonna make a fortune.

Not a day goes by where Trump doesn't show that he's got no idea what he is doing.

15 comments:

Noah Way said...

Waiting for Franko to make some remarks about material competence and 4D chess ...

Matt Franko said...

If I’m reading this bank reform correct then if they pass that we’ll be ok for a good while until Trump can (possibly?) get some people in there who can understand him...

Matt Franko said...

There was a report out that Trump thinks Kudlow can get him some better business press...

Jonathan Larson said...

This is why I come to this site. Just excellent!

Ryan Harris said...

There is no positive spin on Kudlow. Guy is a moron. We'll make lots of money on his goofiness

Matt Franko said...

He still has Navarro there imo Navarro is pretty good and and Hassett who seems ok...

I think Kudlow will do a better job communicating than Cohn did...

The two who seem to be driving econ policy are Wilbur Ross and Navarro right now... they dont seem to have a very deep bench beyond those two ... which is the main problem... they need some worker bees...

lastgreek said...

So with "Cocaine Larry" in does this now mean ... marijuana bad, cocaine good?

"Good people don't smoke marijuana." -- Jefferson (Davis) (P.G.T) Beauregard Se(ce)ssions

I thought the play on Sessions name was clever, yea? ;)

Tom Hickey said...

On cue:

Zero Hedge
Larry Kudlow: "I Would Buy The Dollar And Sell Gold"

John said...

Yet another example of why Trump would pick someone like Kudlow: https://www.theguardian.com/us-news/2018/mar/15/donald-trump-admits-made-up-facts-justin-trudeau

John said...

Noah Way: "Waiting for Franko to make some remarks about material competence and 4D chess ..."

Matt: "There was a report out that Trump thinks Kudlow can get him some better business press..."

Matt: "I think Kudlow will do a better job communicating than Cohn did..."

You see, Kudlow will communicate (material systems) to the dummies out there who don't understand Trump's multidimensional chess.

But all of this may be difficult because, to quote Matt: "...Trump can (possibly?) get some people in there who can understand him..."

Evidently Trump is not only playing multidimensional chess and is himself multidimensional multi-material systems supraliminal, no human is capable of understanding what he says or what he's doing. This is a science fiction short story: Trump is the alien who's given the unenviable job of understanding and communicating with the dumb earth creatures.

Trump's new multidimensional insight is to choose an idiot (Kudlow) to talk to the idiots (the people) via other idiots (the media). The genius of it all! A simpler explanation is that Trump is a "fucking moron", to quote the departed Tillerson. I can't wait for Tillerson's book...

Noah Way said...

@ John - the problem here is simple: you're not materially competent in 4D chess. If you had been properly trained ....

Matt Franko said...

If you leave a job and take a cabinet position, you have to put all your assets into a blind trust (eg Jared having a current problem here) so in return, they give you a one time TAX FREE transfer of your stock options/shares/deferred compensation into cash in the blind trust...

Hank Paulson came out of Goldman with like $300M in Goldman shares that if he cashed up was looking at probably a $100M tax bill... probably Tillerson, Cohn, Ross, Mnuchin, etc...

So what they do is Tillerson gets nominated for Sec State and he has $200M of XOM shares/options deferred taxable, he is probably looking at a $70M tax bill to cash out and he was ready for retirement anyway.... so he writes a perhaps $10M check to the RNC an in exchange he gets the State Dept job... so he pays $10M to save $70M in tax so he is net $60M ahead...

you probably have to stay in the job for 1 year or something in order for anti-fraud... so you see these guys leaving after the 1 year mark...

Back in GWB admin you had Cheney rolling out of Haliburton, ONeill out of ALCOA, Snowe out of Cerberus, Paulson out of Goldman, etc...

RNC has like $70M and DNC is broke as usual...The whole thing is a big tax scam...

Matt Franko said...

Betsy DeVos is from the Amway people... ie $$$$$

Matt Franko said...

" materially competent"

Its already better under Trump and going to keep getting better... this is a no-brainer the left is material incompetent...

If you want better material outcomes you have to put the material oriented people in there... this is not hard...

John said...

Matt,

I've never heard this purpose engineered tax scam before as a way to keep political parties flush with money. Any links for this? Surely when a huge donations like $10m is made public, the whole thing looks fishy?

The donation can't be before the political appointment but after it's ended, so what's to stop, say, Tillerson not coughing up the cash? He can walk away with all of it, right?

As for material systems competency, if what you're saying is true about donations-cum-appointments as a tax avoidance scam, it's safe to say that is the least best way to attract competent people to the most important positions, no? They're only in it to avoid taxes. No matter how many hundreds of millions of dollars Howard Stern or Madonna promised to pay in "donations", would you want them them in any serious position of power?

Education is as important a position as they come, so it's not materially competent to give it to Betsy Devos, who is clearly incompetent, no matter how much money she has donated or promised to in the future. You may as well get Betsy Devos's brother Erik Prince (a future president) to privatise the military and hand himself hundreds of billions of dollars in contracts.