"KUDLOW" IS NEXT.
♪.
LARRY: HELLO, EVERYONE, WELCOME
TO "KUDLOW."
I’M LARRY KUDLOW.
OF COURSE PEOPLE ARE ALWAYS
ASKING ME, ARE WE IN A RECESSION
OR WHEN ARE WE GOING INTO
RECESSION?
SO HERE’S MY ANSWER.
IF PRESIDENT JOE BIDEN EVER
SUCCEEDED WITH HIS WOKE CLIMATE,
FOSSIL-FREE PROGRESSIVE AGENDA
HE WILL PUT THE AMERICAN ECONOMY
INTO A PERMANENT RECESSION.
THAT AREN’T.
IN JAPAN THE OTHER DAY HE
GLEEFULLY TALKED ABOUT AN
INCREDIBLE TRANSITION AWAY FROM
FOSSIL FUELS.
HE IS MORE THAN PLEASED TO SEE
SKYROCKETING GASOLINE PRICES.
THAT IS WHEN HE MADE HIS
INCREDIBLE TRANSITION REMARK.
THEN HE SAYS, GOD WILLING, WHEN
IT’S OVERWELL BE STRONGER AND
THE WORLD WILL BE STRONGER.
AND MY RESPONSE IS, IF BIDEN’S
DREAM EVER CAME TRUE, THEN GOD
WILLING MAYBE WE WOULD STILL
HAVE SOME KIND OF AN ECONOMY
BECAUSE WE WILL NEVER HAVE A
HEALTHY ECONOMY WITHOUT FOSSIL
FUELS.
FULL STOP ON THAT.
I MEAN THESE RADICAL PROGRESSIVE
GREENIES HAVE NEVER EXPLAINED
WHAT IS GOING TO REPLACE FOSSIL
FUELS?
AS KEVIN HASSETT MENTIONED ON
THE SHOW LAST SEENING, 70% OF
THE ELECTRICITY IN THIS COUNTRY
COMES FROM FOSSIL FUELS.
IT WILL NOT BE REPLACED BY
UNRELIABLE WIND TURBINES OR
SOLAR.
IT COULD PARTLY BE REPLACED BY
NUCLEAR POWER BUT THE RADICAL
GREENIES ARE COMPLETELY
HYPOCRITICAL ABOUT THIS AND THEY
ALWAYS OPPOSE NUCLEAR POWER.
I’M ALL FOR ELECTRIC CARS, BUT
IT WILL TAKE FOSSIL FUELS TO
BUILD THEM.
IT WILL TAKE FOSSIL FUELS TO
MINE FOR THE RESOURCES.
WHAT THESE RADICAL PROGRESSIVES
NEVER TAKE INTO ACCOUNT IS THE
IDEA OF TECHNOLOGICAL ADVANCE
AND INNOVATION THAT MAKES FOSSIL
FUELS, ESPECIALLY NATURAL GAS
AND LNG, CLEANER.
TECHNOLOGY HAS MADE OUR AIR AND
WATER THE CLEANEST OF ALL THE
BIG COUNTRIES IN THE WORLD.
THAT IS WHY THERE IS NO
EMERGENCY.
THERE IS NO IMMEDIATE
EXISTENTIAL CLIMATE THREAT.
FORMER EPA COMMISSIONER SCOTT
PRUITT TOLD US THE OTHER NIGHT
ABOUT TREMENDOUS ADVANCES IN
CARBON CAPTURE AND STORAGE THAT
MAKE FOSSIL FUELS CLEANER AND
CLEANER.
BJORN LOMBORG SAID IT WILL BE
IMPORTANT TO PRESERVE LONG-TERM
GROWTH, TECHNOLOGY INNOVATIVE
BREAKTHROUGHS AND AVOID MASSIVE
FINANCIAL COSTS ON TYPICAL
WORKING FAMILIES.
PRESIDENT BIDEN DOESN’T GIVE ONE
WIT ABOUT WORKING FOLKS.
SOMEBODY TOLD HIM HIGHER GAS
PRICES WILL MAKE RENEWABLES MORE
ATTRACTIVE THAT SINGLE ENTRY
BOOKKEEPING WHY BIDE’S
PROGRESSIVE PRESIDENCY IS AN
ABSOLUTE FAILURE.
THERE WAS ABSOLUTE BALONEY TOLD
BY JOHN KERRY AT THE RICH MAN’S
SOCIALIST GATHERING CALLED
DAVOS.
RICH PEOPLE LIKE DISNEY KIDS,
MOANING FOR HIGHER TAXES.
SURE, YOU HAVE YOUR MONEY.
YOU ALREADY WRECKED YOUR
AMUSEMENT PARK WITH YOUR WOKE
SOCIAL OPINION.
IF YOU WANT TO PAY MORE IN TAXES
GO AHEAD.
WRITE A CHECK TO THE IRS, FEEL
FREE TO DO SO, BE MY GUEST BUT
DON’T PUNISH THE REST OF US.
MEANWHILE KERREY IS SELLING ALL
THE GLOOM AND DOOMED FROM
CLIMATE INDUCED HURRICANES,
FLOODS, NATURAL DISASTERS.
THE TROUBLE IS, LAST 100 YEARS
FACTUALLY FATALITIES FROM
NATURAL KISS SASS DISASTERS FELL
99%.
HE IS SELLING MORE CLIMATE
BALONEY.
THIS POOR TRUTH TELLING BANKER,
GETS UP IN FRONT OF A FANCY
CONFERENCE OF INVESTORS.
TELLS HIM NOT TO WORRY ABOUT ANY
FINANCIAL CLIMATE RISK.
HE SAID, GIVE YOU A QUOTE,
UNSUBSTANTIATED SELF-SERVING A
POCK LIP CALL WARNINGS ARE
ALWAYS WRONG.
THAT GUY IS COMPLETELY RIGHT.
AFTER A POLITICAL UPROAR, HIS
CEO SUSPENDED HIM FROM THE BANK
PENDING AN INVESTIGATION.
I THOUGHT WE GOT RID OF THE
DISINFORMATION BOARD.
NOT AT HSBC, WE DID NOT THERE.
HERE’S A FINAL THOUGHT ON ALL OF
THIS.
THE NEW YORK FED DID A STUDY
LAST YEAR.
HOW BAD ARE WEATHER DISASTERS
FOR BANKS?
THE ANSWER IS VARIOUSLY NOT VERY
INSIGNIFICANT, SMALL IMPACT.
ACCORDING TO A PIECE BY RUPERT
DARWALL BY REAL CLEAR
FOUNDATION.
HE WENT ON TO SAY THE USE OF
CLIMATE RISK TO PUSH FINANCING
FLOWS TO NET ZERO, NOT FOSSIL
FUEL COMPANIES, THAT CAUSED
PAINFULLY HIGH OIL AND GAS
PRICES, IT IS HURTING CONSUMERS,
IT IS HURTING BUSINESSES AND IT
IS PUSHING UP THE COST OF FOOD.
THAT IS WHAT WOKE BANKERS ARE
DOING BECAUSE OF WOKE REGULATORS
LIKE THE SEC OR THE FEDERAL
RESERVE.
BECAUSE OF WOKE PRESIDENT WHO
HAS NO IDEA HOW TO SAVE AMERICA,
NONE WHATSOEVER.
BUT YOU KNOW WHAT, FOLKS?
YOU KNOW WHAT I’M GOING TO SAY,