Just what is Larry Kudlow thinking…
Writing by abuhatem on Tuesday, 25 of March , 2008 at 10:22 am
The beltway mainstream “fiscal conservative” ahem, “supply sider” on CNBC’s Kudlow and Company has one of the stupidest articles today for RealClearPolitics about how Fed chairman Ben Bernake is “his kind of guy.” Thats weird for someone who begins his show saying, correctly I might add, that free-market capitalism is the best path to prosperity. Uhh yeah. Of course he is your kind of guy. He bailed out Bear Stears of which you used to work, not allowing it to fall by the forces of the free market. Very “conservative.” Of course he is your guy, he keeps cutting interest rates causing people to pay more money for gas and food to just survive - especially elderly people on fixed incomes - for the sake of Wall Street “rebounding” and the recession being “cut short.” Very conservative. Of course he is your guy, he is undergoing the greatest government intervention in the markets by the Fed for decades upon decades for the sake of “stability.” Very conservative as well. It is people like Larry Kudlow who give supply-side economists, moneterists, Austrians, and all of the conservative monetary schools and philosophies a bad name. Conservativism, as I have said before, is not socialism for the rich. It is individual responsibility. Watching CNBC this weekend has been very torturous, everyone is being asked the question on inflation, and everyone is answering “well inflation is a big deal down the road, but its more important for financial markets to be stable even with government intervention.”What kind of free market is this? Other than Don Luskin and Jim Rogers, nobody on that entire network supports a true free market, they support government intervention but only on behalf of the rich. Let the banks fall, let the correction happen, and let the markets clean themselves out. I saw on Morning Joe today that Iceland moved their interest rates to about 20% today because of the world-wide inflation problem. You think?
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