"KUDLOW" IS NEXT.
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LARRY: WELCOME TO "KUDLOW," I’M
LARRY KUDLOW.
I WISH TO BEGIN WITH MY
SINCEREST CONDOLENCES TO THE
FAMILY OF SHINZO ABE AND THE
PEOPLE OF JAPAN.
I GOT TO KNOW HIM WELL DURING MY TIME IN GOVERNMENT.
TIME IN GOVERNMENT.
HE WAS HEAD AND HOW -- HEAD AND
SHOULDERS ABOVE OTHER LEADERS I
MET.
I SPOKE TO PRESIDENT TRUMP.
HE SAID HE CONSIDERED MR. ABE
HIS CLOSEST ALLY.
THE SINGLE BEST PRESENTATION I
EVER SAW IN MY THREE YEARS AS
NEC DIRECTOR.
MR. ABE CALMLY PRESENTED MY BOSS
WITH A ROUGHLY 50-PAGE CHART
BOOK SHOWING CLEARLY JAPAN IS
AMERICA’S TOP INVESTOR AND
MANUFACTURER.
MORE JAPANESE CARS ARE MADE IN
THE U.S. THAN JAPAN.
MORE JAPANESE CARS WERE MADE IN
THE U.S. THAN SEVERAL U.S. CAR MAKERS.
JAWS DROPPED IN THAT ROOM AS THE
JAPANESE PRIME MINISTER WENT
THROUGH HIS PRESENTATION AND IT
OPENS THE DOORS TO THE JAPANESE
TRADE IMPROVEMENT DEAL.
ABOUT ABE WAS ALWAYS KIND TO ME
ESPECIALLY DURING MY BRIEF
CARDIAC EPISODE.
EVERY TIME HE SAW ME HE WOULD
ALWAYS COME UP AND SEE HOW I WAS
DOING.
AND I APPRECIATED THAT HAVE
MUCH.
MR. ABE WAS A GREAT JAPANESE
PATRIOT.
AMERICA’S MOST LOYAL SUPPORTER.
IN PLAIN ENGLISH HE’S WHAT YOU
CALL A GREAT MAN.
AGAIN MY CONDOLENCES TO HIS
FAMILY AND THE ENTIRE JAPANESE
NATION.
MAY GOD WATCH OVER HIM.
MAY HE REST IN PEACE.
LATER IN THE SHOW NATIONAL
SECURITY ADVISOR ROBERT O’BRIEN
WILL JOIN US.
PLEASE STAY TUNED FOR IT.
NEXT UP ON MY RIFF LIST. TODAY’S JOB REPORTS GUARANTEES
TODAY’S JOB REPORTS GUARANTEES
THE 75 BASIS POINTS RIGHT HIKE
AND IN SEPTEMBER WOULD BRING IT
TO 3 1/4 PERCENT.
THE FED IS MORE DETERMINED TO
FIGHT INFLATION RATHER THAN
RECESSION.
SO SAYS JAY POWELL WHO RECENTLY REGAINED HIS SPRY STABILITY
REGAINED HIS SPRY STABILITY
MANHOOD AND -- AND HIS DAILY
GROWING NEW HAIR ON HIS CHEST.
THE HOUSEHOLD SURVEY FELL BY
315,000.
AND HOUSEHOLD EMPLOYMENT DROPPED
BY 1167,000.
DROPPED -- BY 116 THOUSAND.
IT’S FREQUENTLY AN INDICATER OF
A TURNING POINT IN THE ECONOMY.
THE WAGE INCREASE IS 2% LESS
THAN THE INFLATION.
THE DISPOSABLE INCOME AFTER
INFLATION IS DOWN 3.3%.
I THINK WE ARE ON THE FRONT ENDS
OF A RECESSION WHICH BRINGS ME
TO MY THIRD RICH.
THIRD -- MY THIRD RIFF.
IT’S SHEER FOLLY FOR THE BIDEN
DEMOCRATS TO FLOAT A SPENDING
SPREE COUPLED BY A TAX HIKE.
THE TAX HIKE WILL DEEPEN
RECESSION.
THIS SCHEME THEY ARE FLOATING TO
EXTENDS THE 3.8% NET INVESTMENT
TAX TO PASS THROUGH COMPANIES
LIKE LLCs OR WHOLLY OWNED
PROPRIETORSHIPS, BASICALLY
SMALLER BUSINESSES.
THEY WANT TO PUTS THAT MONEY IN
GENERAL REVENUE AND SWEAR UP AND
DOWN IT WILL FINANCE THE
MEDICARE HOSPITAL FUNDS.
I THINK IT’S A PHONEY GIMMICK.
THAT FUNDS IS SUPPOSED TO BE AND
HISTORICALLY HAD BEEN FINANCED
BY PAYROLL TAXES NOT GENERAL
REVENUES.
THEY WILL HAVE TO CREATE
LANGUAGE TO EARMARK OR DESIGNATE
THAT THE FUNDS WILL GO TO
MEDICARE.
THEN THEY HAVE TO CONVINCE THE
RECONCILIATION PEOPLE TO SKIER
IT.
THAT’S ONE OF THE MANY GIMMICKS
TO COME IN THIS INSANE BUILD