INDUSTRIAL DOWN 180 AND S&P DOWN
31.
♪.
LARRY: HELLO EVERYONE, WELCOME
TO "KUDLOW", I AM LARRY KUDLOW.
ONE MORE PASS THAT JOE BIDEN’S
ALLEGED PLAN FOR FIGHTING
INFLATION.
WE THINK MOST COMMON SENSE FOLKS
KNOW IT IS NOT A SERIOUS PLAN AS
MY PAL KEVIN HASSETT SAID IS NOT
EXACTLY THE MARSHALL PLAN.
THREE QUICK POINTS IN THIS NON-
PLAN.
BLAME EVERYTHING ON THE FEDERAL
RESERVE, IT IS THEIR PROBLEM NOT
MINE, I’M THINKING IF THE FED
DOES WHAT IT NEEDS TO DO IN
TIGHTENING MONEY SUPPLY IN
RAISING INTEREST RATES ABOVE
INFLATION THEN BIDEN IS GOING TO
BLAME THE RESULTING YEAR
RECESSION ON THE FED HE IS
SETTING UP JAY POWELL FOR A BIG
FALL, TWO OTHER POINTS IN THE
SO-CALLED INFLATION PLAN AND
NON- PLAN IS ANOTHER STAB AT
BUILD BACK BETTER TO SPEND MORE
MONEY ON THE GREEN NEW DEAL IN
VARIOUS PENDING SUBSIDIES
INCLUDING OBAMACARE AND OF
COURSE FEDERAL CONTROL OF DRUG
PRICES AND THE THIRD POINT IS
REDUCING THE FEDERAL DEFICIT BY
CONSIST OF TORY WEALTH TAXES ON
THE SUCCESSFUL AND HIGHER TAXES
FOR AMERICAN COMPANIES AT HOME
AND OVERSEAS.
IF THIS SOUNDS A LOT LIKE THE
PACKAGE WHERE WE SAVED AMERICAN,
KILLED THE BILL, YOU’D BE RIGHT,
ALTHOUGH THIS HAS NOTHING TO DO
WITH INFLATION, NOTHING.
BUT BIDEN AND HIS SENIOR STAFF
ARE NOW RUNNING AROUND
WASHINGTON TELLING EVERYBODY
THAT THEY FEEL THEIR PAIN ON
INFLATION IN THEIR BEGGING FOR
FORGIVENESS FOR BEING SO BADLY
WRONG AND MISSING THE INFLATION
STORY AND CALLING INFLATION
TEMPORARY BUT YOU KNOW WHAT
THEY’RE NOT REALLY SORRY, HERE
IS JANET YELLEN BEGGING FOR
FORGIVENESS, PLEASE TAKE A LOOK.
>> I THINK I WAS WRONG ABOUT THE
PATH OF INFLATION WOULD TAKE.
AS I MENTIONED THERE HAS BEEN
UNANTICIPATED IN LARGE SHOTS TO
THE ECONOMY THAT BOOSTED ENERGY
AND FOOD PRICES AND SUPPLY
BOTTLENECKS THAT HAVE AFFECTED
OUR ECONOMY BADLY THAT I AT THE
TIME DIDN’T FULLY UNDERSTAND.
LARRY: REALLY, IT SOUNDS LIKE A
HOSTAGE VIDEO THEN AN APOLOGY,
HOWEVER, WITH ALL DUE RESPECT
WHAT HE JUST HEARD WAS A NON-
APOLOGY AN APOLOGY BECAUSE
BEHIND ALL OF THOSE TEARS IT
WASN’T REALLY OUR FAULT MOMENT,
IN OTHER WORDS IT WASN’T
INFLATIONARY $2 TRILLION TO ME
PACKAGE OR ALL THE BORROWING
THAT WAS FINANCED BY A RESERVE
MONEY CREATION OR THE FACT THAT
THE BIDEN’S RADICAL WAR AGAINST
FOSSIL FUEL PUT A LID ON THE
PRODUCTION OF OIL AND GAS AND
PIPELINE, NONE OF THAT.
INSTEAD IT WAS VLADIMIR PUTIN
AND BOTTLENECKS.
NOW OUR FALL, DISPLAYING GAME
BEGINS WITH BIDEN BUT CONTINUES
TO HIS TREASURY SECRETARY AND
OTHER SENIOR STAFF IS A KEY
REASON WHY THE SO-CALLED
ANTI-INFLATION PLAN HAS NO
CREDIBILITY WHATSOEVER.
IF YOU DON’T UNDERSTAND THE
INFLATION PROBLEM AND YOU DON’T
OWN THAT PROBLEM THEN YOU’RE
NEVER GOING TO SOLVE THE
PROBLEM.
IN FACT A HAT TIP TO BYRON YORK
FOR REMINDING US OF JERRY FORD’S
INFLATION NOW BUTTON, REMEMBER
THAT IT’S JUST A SILLY IF NOT
MORE SO.
I HAVE A BETTER IDEA AND A
BETTER PLAN.
FIRST MAKE THE TRUMP CORPORATE
TAX PERMANENT AND/INDIVIDUAL TAX
RATES TO PROMOTE SUPPLY-SIDE
GROWTH.
SECOND, DEREGULATE ALL BUSINESS,
ALL INDUSTRY AND ALL ENERGY.
IT FREES THE MESSAGE SPENDING
AND ULTRACHEAP INTEREST-RATE,
PULL ACCESS CASH OUT OF THE
ECONOMY IN ORDER TO PROTECT AND
GUARANTEE THE VALUE OF THE
DOLLAR.
BUNDLE ALL OF THIS INTO A
PRO-GROWTH BALANCE BUDGET
PACKAGE.
IN THE U.S. ECONOMY WILL TAKE
OFF LIKE A ROCKET WHILE
INFLATION PLUNGES.
IT’S HAPPENED BEFORE, I’VE SEEN
IT WITH MY OWN EYES.