Faith-Based Currency
Larry Kudlow, six months ago:
Larry Kudlow, last week:
It’s hard to deny that inflation expectations are creeping higher. At this stage of the cycle, more dollar softness will translate into higher inflation. The solution to all this? A stronger U.S. greenback. But will we get it?Take a look at what then happened to the dollar. It's a precipitous decline, particularly for a major currency.
Larry Kudlow, last week:
Bears will argue against rate cuts because they worry about inflation. But it’s hard to find any continuous inflationary evidence. Oil, gold, and other commodity-price increases seem to be part of the global boom story, not the inflation story.Don't ask him about this. He might stick you with the pin from his lapel flag.
posted by The Cunning Realist at Saturday, October 27, 2007
11 Comments:
Larry Kudlow. If ever there were an elitist posing NOT! with no bones about it, it is he. Such a sycophant.
Kudlow, Kramer; different beats, same song. I've dealt with these and other such lost boys before.
What about elitists, anyway? Aren't we all?
Royalty has already moved their money into gold, oil and other currencies.
CNBC is for the peasants......and they haven't moved, and, according to Larry, shouldn't......someone has to suffer, right?
And it is only right that it be the peasants....as it has been thru history.
Sounds like Larry's given up on oil going back to $30 huh?
Larry's often accused of being a permabull, but he's been a permabear on stuff that could have made you a lot of money - commodities, Brazil, Europe.
If anyone can cite an example of a fiat currency that wasn't inflated to the point of worthlessness, I'd just love to hear about it. Ironically, we went off the gold standard because foreigners noticed that, during the guns-and-butter days of the late Sixties, we'd circulated an order of magnitude more dollars than we could have ever redeemed at $35 to the ounce. I hate to imagine what will happen when astute foreigners notice that our dollars aren't worth the paper they're printed on.
Gosh, Kudlow's been a polyanna for so long it's hard to believe there's a shred of credibility left. But there he is on CNBC all the time with the same old tired cast of characters as guests. It's very refreshing when he does have a guest with a very counter point-of-view which goes to show how infrequent that is.
And, I'll actually give Kudlow a bit of credit in that he seemingly has softened his attacks on Democrats - Charley Rangel comes to mind.
It's just maddening though when he bleats on that there's no inflation. There isn't except in those things such as food, energy, healthcare, education, property taxes that somehow escape core-CPI.
I'd like to hear Larry explain truthfully how all that stuff has gone up 50-100% in the last 10 years yet CPI has never crept over 3% and even then for the smallest amounts of time
But oh yeah, the costs of flat screen tv's and dvd players keeps going donw so all must be right with the world....right, Larry?
So much worthwhile data for everyone!
For my part everybody must look at it.
It won't work as a matter of fact, that's what I believe.
The chap is completely just, and there's no doubt.
This is all terrible the thing you're saying.
Post a Comment
<< Home