"KUDLOW" IS NEXT.
LARRY: TODAY’S INFLATION REPORT
CAME IN MUCH STRONG THAN
EXPECTED.
THERE WERE NUMEROUS SIGNS NOT
ONLY IS INFLATION NOT PEAKING,
IT MAY BE ACCELERATING.
I FEEL IT’S MY DUTY TO REPORT
PRESIDENT BIDEN’S RESPONSE.
EX WHY MADE MORE MONEY THAN GOD
THIS YEAR.
THEN HE BARBED THE OIL COMPANIES
FOR NOT DRILLING. WHY AREN’T THEY NOT DRILLING?
WHY AREN’T THEY NOT DRILLING?
I’M JUST PAIR JUST PAR PARAPHRAS
STATEMENT.
IF YOU ANALYZE WHAT HE SAID
HERE, VLADIMIR PUTIN DECIDE TO
TAKE ON THIS IRRESPONSIBLE WAR.
BLAME BUSINESS, AND OF COURSE
BLAME PUTIN.
OF COURSE, WHAT IS DRIVING
INFLATION IS THE LAGGED IMPACT
OF MASSIVE SPENDING AND
BORROWING AND MONEY PRINTING.
AND BIDEN’S RADICAL
ENVIRONMENTAL POLICIES THAT MADE
IT VIRTUALLY IMPOSSIBLE TO GET A
PERMIT FOR ALMOST ANYTHING.
HIGHWAYS, ROADS, BRIDGES, EVEN
WIND AND SOLAR FARMS WILL BE
STOPPED.
AND THROW IN ENERGY AND INTERIOR
DEPARTMENTS PURSUING THE SAME
GREEN DEAL AGENDA, OIL COMPANIES
DON’T FEEL LIKE MAKING LONG-TERM
INVESTMENTS. THEY WATCH OUR SHOW AND THEY
THEY WATCH OUR SHOW AND THEY
KNOW ABOUT THE BIDEN FOSSILS.
THE 12-MONTH JOINING OF 8.%.
CORE PRICES FOOD AND ENERGY
PICKED UP 3.%.
THAT’S HIGHER THAN THE 1-MOW
CHANGE OF 6%.
I HAVE GOT MORE NUMBERS COMING.
HOUSING AND SHELTER PRICES ARE
PICKING UP STEAM.
6.7% THE LAST THREE MONTHS.
WHEN THE 3-MONTH IS FASTER THAN
THE 12-MONTH, THAT’S A BAD
FRIEND’D TRENDING INDICATOR.
SERVICES UP 9%.
AND EVEN IF YOU TOOK OUT ENERGY,
SERVICES ARE STILL UP 8% COMPARES TO 5.2 FOR THE YEAR.
COMPARES TO 5.2 FOR THE YEAR.
THE 34 3-MONTH IS FASTER THAN TH 12 MONTHS.
12 MONTHS.
POWER AND UTILITIES ARE UP 8.3%.
CONSUMER CONFIDENCE PLUNGED IN
THE UNIVERSITY OF MICHIGAN
REPORT.
THE ATLANTA FED WASTE TRACKER IS
UP 6.1% IN MAY.
JANET YELLEN, OUR FRIEND FROM
THE HOSTAGE VIDEO.
SHE CLAIMED EUROPE AND THE BIG
COUNTRIES HAVE THE SAME
INFLATION PROBLEM WE HAVE IN THE
U.S.
BUT THAT’S A FALSEHOOD.
THE CORE INFLATION IS ALMOST
DOUBLE THE OED COUNTRIES.
AND THE "WALL STREET JOURNAL"
REPORTED U.S. HAS 3% HIGHER
INFLATION THAN THE EURO.
AND RECENTLY U.S. CORE INFLATION
IN MAY UP 6.3%.
IT’S 3.8% IN THE EURO AREA.
WAGES IN THE U.S. ARE GROWING
TWICE AS FAST THAN EUROPE
BECAUSE OUR FISCAL POLICIES
CREATED AN EXCESS DEMAND.
FUHRMAN AND SUMMERS AND RADNER
CONSISTENTLY WARNED ABOUT EXCESS
FENDING BUT NEITHER YELLEN, OR
BIDEN WILL ADMIT TO IT.
NEVER OWNING IT MEANS NOT
UNDERSTANDING IT.
I REMEMBER THE FAMOUS MOVIE,
BEING IN LOVE MEANS NEVER HAVING
TO SAY YOU ARE SORRY.
BUT BEING HIGH INFLATION IS A
DIFFERENT MATTER.
WHEN YELLEN TESTIFIED BEFORE CONGRESS THIS PAST WEEK SHE
CONGRESS THIS PAST WEEK SHE
CONTINUED TO PRESS THE FY-23
BUDGET.
THE HIGH TAXES WOULD MASSIVELY
INCREASE INFLATION.
WITH TODAY’S REPORT, REAL WAGES
CONTINUE PLUNGING OVER 3%.
FRANKLY THE ECONOMY IS BARELY BREAKING EVEN.
BREAKING EVEN.
IT DROPPED 1.5% IN Q-1 AND AND A
0.9% GAIN FOR Q2.
THE FEDERAL RESERVE WILL HAVE TO
ADOPT A MORE ADDRESS HIVE
POLICY.
MY PAL STEVE FORBES SAYS IF THEY
CAN PRINT MONEY, THEY CAN
UNPRINT IT.
THERE IS PROBABLY NO WAY OUT OF
THIS INFLATIONARY SCENARIO.
BUT AS AN OPTIMIST I HAVE A
DIFFERENT PLAN.
MAKE TRUMP TAX CUTS PERMANENT
AND SLASH PERSONAL TAX RATES AS
WELL AS A SIMPLIFIED CODE.
THAT WOULD INCREASE THE
PRODUCTION SIDE OF THE ECONOMY.
AND DEREGULATE ENERGY AND
INDUSTRY EVERYWHERE.
ALSO BOOST THE SUPPLY ECONOMY
AND FREEZE DOMESTIC SPENDING AND
FOURTH DEFEND THE VALUE OF KING
DOLLAR.
WRAP THIS UP IN A BALANCED
BUDGET PLAN AND THIS WILL
SKYROCKET GROWTH AND CRUSH
INFLATION.
THE CAVALRY IS COMING.