LARRY KUDLOW IS NEXT.
♪.
LARRY: HELLO, EVERYONE, WELCOME
TO "KUDLOW," I’M LARRY KUDLOW.
SO YOU WOULD THINK WITH
YESTERDAY’S CPI RISING 8.3 AND A
30% JUMP IN ENERGY, AND TODAY’S
PPI RISING 11%, WITH A 40%
INCREASE IN ENERGY PRICES YOU
WOULD THINK THAT THE BIDEN
ADMINISTRATION POLICYMAKERS
WOULD SUPPORT MORE OIL AND GAS
SUPPLIES, RIGHT?
WELL, NO.
YOU WOULD BE WRONG.
INSTEAD THE ADMINISTRATION
CANCELED ONE OF THE MOST
HIGH-PROFILE OIL AND GAS LEASE
SALES PENDING BEFORE THE
INTERIOR DEPARTMENT.
OH, DID I MENTION RECORD
GASOLINE PRICES AT THE PUMP?
INTERIOR STOPPED POTENTIAL FOR
OIL IN OVER A MILLION ACRES IN
THE ALASKA’S COOK INLET, ALONG
WITH TWO LEASE SALES IN THE GULF
OF MEXICO.
QUOTE, LACK OF INTEREST WAS
CITED BY THE INTERIOR
DEPARTMENT, END QUOTE.
PLUS CONFLICTING COURT RULINGS
ON ENVIRONMENTAL IMPACT.
YEAH, OF COURSE.
THERE IS LACK OF INTEREST IN
LEASES BECAUSE THERE IS ALMOST
CERTAINTY THE ADMINISTRATION
WILL NOT GRANT PERMITS TO DRILL
OR PRODUCE OR PIPELINE NEW
ENERGY SUPPLIES.
WHAT GOOD IS A LEASE IF YOU
CAN’T GET A PERMIT?
OF COURSE PRESIDENT BIDEN MADE
ALL OF THIS VERY CLEAR FROM DAY
ONE WHEN HE KILLED THE
XL PIPELINE AND THEN ANWR AND
RECENTLY BROUGHT ON NEW
ENVIRONMENTAL PERMITTING
RESTRICTIONS THAT WILL ACTUALLY
STOP INFRASTRUCTURE ALL
TOGETHER.
SO WHILE THE PRESIDENT MAY BE
TELLING FOLKS INFLATION IS HIS
NUMBER ONE PRIORITY, HIS
POLICIES TO INCREASE SPENDING
SHUT DOWN FOSSIL FUELS
COMPLETELY COMPLETELY UNDERMINES
HIS POSITION.
IN ANOTHER ERA HE SPEAKS WITH
FORKED TONGUE.
IN OTHER WORDS, A FALSEHOOD.
AS WE KNOW FROM MR. BIDEN’S
SPEECH ON TUESDAY, HE WANTS TO
SPEND MORE, REGULATE MORE, AND
TAX MORE.
HE WANTS CENTRAL PLANNERS IN
WASHINGTON, D.C., TO RUN THE
COUNTRY’S ECONOMY WITH A TIGHT
FIST, NO LESS.
HE HAS 100% CONFIDENCE IN
GOVERNMENT AND ZERO CONFIDENCE
IN THE FREE ENTERPRISE PRIVATE
SECTOR, AKA CAPITALISM.
HE SAYS HE IS A CAPITALIST BUT
HIS ACTIONS SUGGEST WHAT
NEWT GINGRICH CALLS BIG
GOVERNMENT SOCIALISM.
IT IS FALLING ON ALL ACCOUNTS.
WE ARE IN THE MIDST OF AN
EMERGENCY INFLATION CRISIS WITH
THE MOST WIDESPREAD PRICE HIKES
IN FOUR DECADE.
THERE IS NO LET-UP IN THESE
INFLATION NUMBERS BECAUSE THERE
HAS BEEN NO CHANGE IN GOVERNMENT
POLICIES.
WHAT YOU HAVE HERE IS A
CATASTROPHIC COLLAPSE OF THE
RADICAL, PROGRESSIVE EXPERIMENT.
WE SHOULD NOT BE SURPRISED.
THIS BIG GOVERNMENT SOCIALIST,
PROGRESSISM HAS FAILED WHEN
EVER, AND WHEREVER IT HAS BEEN
TRIED.
EVEN EUROPE PULLED BACK FROM IT
YEARS AGO.
MR. BIDEN IS IN DENIAL ABOUT
BOTH THE INFLATION CRISIS AND
THE FAILURE OF HIS PROGRESSIVE
POLICIES.
HE IS PLAYING THE BLAME GAME.
VLADMIR PUTIN, PANDEMIC, SUPPLY
CHAINS, RICH PEOPLE, GREEDY
CORPORATIONS, PRICE GOUGING,
POULTRY PRODUCERS.
HE MIGHT BE BLAMING ALL THE
INFLATION ON THE MALE LESSER
PRAIRIE CHICKEN COLLUDING WITH
EACH OTHER.
IS THAT POSSIBLE?
JUST A THOUGHT.
BLAMING SENATOR RICK SCOTT
AROUND LATELY BLAMING FORMER
PRESIDENT DONALD TRUMP.
THAT IS WHAT THIS ULTRAMAGA
STUFF IS ALL ABOUT, ISN’T IT,
TRUMP?
PLEASE SIGN ME UP FOR ULTRAMAGA,
TAX CUTS, DEREGULATION, ENERGY
INDEPENDENCE, RECORD LOW
MINORITY UNEMPLOYMENT, LOWER
POVERTY, ORDERLY BORDER, NO
VLADMIR PUTIN INVASIONS, PLEASE
SIGNED ME UP.
IN CHICAGO, MR. BIDEN RAISED THE
ANTE TO THE GREAT MAGA KING, IN
OTHER WORDS BIDEN’S BLAME GAME
CONTINUES.
NOT FAILURE OF RADICAL
PROGRESSIVE POLICIES.
IT IS REALLY DONALD TRUMP’S
FAILURE, RIGHT?
BUT MR. TRUMP IS NOT ON THE
BALLOT.
ANYWAY MAGA KING SIGNS LIKE THE
SHOW BROADWAY SHOW "LION KING."
NOBODY KNOWS WHAT BIDEN IS
TALKING ABOUT.
INCIDENTALLY VIRGINIA GOVERNOR
GLENN YOUNGKIN SHOWED WHILE
MR. TRUMP IS NOT ON THE BALLOT
HIS SUCCESSFUL POLICIES ARE A
GREAT CONTRAST TO BIDEN’S
FAILURES.
THE BIDEN BLAME GAME, THE BIDEN
DISTRACTION GAME ISN’T WORKING,
IT WON’T WORK.
YOU KNOW YOU’RE IN TROUBLE WHEN
LEFT-WING DEMOCRAT YOU GET
SLAMMED BY "THE WASHINGTON POST"
EDITORIAL PAGE WHICH JUST WROTE,
AND I QUOTE, IT’S WISHFUL
THINKING THAT INFLATION IS GOING
TO COME DOWN MUCH BY ELECTION
DAY.
TO SHOWBOATERS HE IS ON TOP OF
THE PROBLEM, MR. BIDEN NEEDS TO
DO MORE THAN BLAME SOMEONE ELSE
FOR HIGH PRICES.
OH, OUCH.
WELL, "THE WASHINGTON POST"
HAPPENS TO BE RIGHT THIS TIME.
BIDEN’S GOT TO BURY HIS
PROGRESSIVISM.
FEDERAL RESERVE HAS TO START
TAKING CASH OUT OF THE ECONOMY.
THESE POLICY CHANGES WILL
EVENTUALLY CURB INFLATION BUT
IT’S NOT GOING TO BE EASY.
STOCK MARKETS RIGHT NOW ARE
SENDING A RECESSION SIGNAL.
THE S&P 500 IS DOWN ABOUT
18 1/2% YEAR-TO-DATE AND ADD
ROUGHLY 10% INFLATION, THAT IS
REALLY A REAL DECLINE OF ALMOST
30 PERCENT.
AS OF YESTERDAY’S CLOSE,
AMERICA’S CROWN JEWEL, THE
INFORMATION TECH SECOND, WAS OFF
24% YEAR-TO-DATE.
CHIP STOCKS DOWN 29 PERCENT,
HOMEBUILDERS DOWN 36%, RETAILERS
DOWN 31%.
THIS IS A DISCOURAGING STOCK
MARKET MESSAGE.
IT COULD BE SUGGESTING A PAINFUL
INFLATIONARY RECESSION.
ONCE AGAIN, BLAMING DONALD TRUMP
IS NOT THE ANSWER FOR MR. BIDEN
AND HIS PROGRESSIVE FOLLOWERS.
SOME ADULTS IN THE WHITE HOUSE
HAS GOT TO GO INTO THE OVAL
OFFICE AND TELL THE PRESIDENT
THAT HIS POLICIES ARE FAILING
AND THE COUNTRY HAS COMPLETELY
LOST CONFIDENCE IN HIM.
THE ONLY THING WORSE THAN THE
STOCK MARKET DROP IS MR. BIDEN’S
STEADY POLLING DECLINE.
WHOEVER THAT ADULT MIGHT BE THEY
HAVE GOT TO BE BRUTALLY HONEST
WITH THE BOSS.
NEW PEOPLE WITH MORE MARKET AND
BUSINESS SYMPATHIES AND LESS BIG
GOVERNMENT SOCIALISM BLOOD,
SHOULD BE BROUGHT IN FOR A BIDEN
RESCUE MISSION.
IS THIS GOING TO HAPPEN?
AT THIS POINT I RATHER DOUBT IT.
BUT I DO HAVE A HUMAN RESOURCES
PERSONNEL THOUGHT.
WELCOME THE NEW CHIEF OF STAFF,
FORMER SENATOR JOE MANCHIN.
JUST THINK ABOUT THAT.