Ludwig von Mises Institute - Tu Ne Cede Malis
Advancing the scholarship of liberty in the tradition of the Austrian School.
On last night's Kudlow & Co., the host heaped praise on the author of a Forbes.com op ed. The lovefest begins around 5:30 and keeps going right until the end. I had to remind myself several times that "there's no I in PRI." Er, "team."
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Comments (3)
I find Kudlow to be another pawn for the Neo-Con establishment. He is one of the beaters of Fed inflate first as questions later recipe for wealth destruction. Moreover, I have never heard him mention the impact of the 8 billion or so per week spent on the two wars nor does he mention the impact of the GIANT expenditures of this administration on the economy. He mentions the positive effects of tax cuts constantly. He never mentions the wealth destroyed to pay for these and new entitlements and war at the same time.
My favorite interview with him was on the Laura Ingram radio show where he advised the government not to help mortgage borrowers BUT TO SAVE these financial institutions that lent them the money through Fed action, read inflation.
So his ideas to save his friends and screw the little guys. No-wonder we have distrust in corporate America?
Published: March 19, 2008 2:57 PM
Now I should, like Robert, give credit where credit is due as Kudlow mostly refutes the interview I saw. But if I stick to my sound economic principas then he is no better than the fellow saying the Fed did the right thing. As long as the Fed exists it inflates. Until it is destroyed, the laws repealed, the government monopoly on currency destroyed and all their employees fired then there is no correct action the Fed can take as there is no way to know the preferences of the millions of actors in the economy.
Published: March 19, 2008 3:47 PM
KUDLOW CONTINUES TO EXTOLL THE VIRTUES OF "FREE MARKET CAPITALISM" DESPITE THE IRREFUTABLE PROOF THAT WALL STREET'S LARGELY INCOMPETENT AND UNSCRUPULOUS MANAGEMENT CONSISTENTLY POCKETS PROFITS AND MONETIZES LOSSES WITH THE HELP OF IT'S LACKEYS AT THE FED. THIS IS NOT "FREE MARKET CAPITALISM", BUT RATHER, "FREE RIDE CAPITALISM". KUDLOW WOULD HAVE US BELIEVE THAT REDUCED CORPORATE TAXES AND WEAK FEDERAL REGULATION WOULD SOLVE OUR ECONOMIC PROBLEMS. THIS IS SIMPLY UNTRUE. BUSH GAVE BIG MONEY HUGE TAX CUTS AND SARBANES-OXLEY GUTTED BANKING REGULATIONS. IF KUDLOW'S VIEWS WERE CORRECT WE WOULD NOT BE IN GREAT FINANCIAL CRISIS. BUT WE ARE, AND NOW, AS ALWAYS, THE AMERICAN TAX-PAYER MUST BAIL-OUT THE "FREE MARKETERS" SO THEY CAN PEACEFULLY SAIL AWAY TO THEIR SUMMER ESTATES ON THEIR LUXURY YACHTS.
Published: March 31, 2008 7:23 PM