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A rule of thumb.

Torus34

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It was amusing to hear Mr. Lawrence Kudlow, a major economic adviser to President of the United States of America Donald Trump, pontificate on the stock market with respect to the present virus outbreak.

I've learned, over many decades, that when someone touts either stocks or horses, a good question to ask is, 'What do you do for a living?' Unless the answer's 'I haven't worked in years. I just take my own advice and apply it,' you know you're talking with someone who can't even support himself with his own tips.

'Nuff said.
 
It was amusing to hear Mr. Lawrence Kudlow, a major economic adviser to President of the United States of America Donald Trump, pontificate on the stock market with respect to the present virus outbreak.

I've learned, over many decades, that when someone touts either stocks or horses, a good question to ask is, 'What do you do for a living?' Unless the answer's 'I haven't worked in years. I just take my own advice and apply it,' you know you're talking with someone who can't even support himself with his own tips.

'Nuff said.

I'm thinking Kudlow has forgotten more about Wall Street and government than you will ever know.

Lawrence Alan Kudlow (born August 20, 1947) is an American financial analyst and former television host serving as Director of the National Economic Council under President Donald Trump since 2018.[1]

Kudlow began his career as a junior financial analyst at the New York Federal Reserve. He soon left government to work on Wall Street at Paine Webber and Bear Stearns as a financial analyst. In 1981, after previously volunteering and working for left-wing politicians and causes, Kudlow joined the administration of Ronald Reagan as associate director for economics and planning in the Office of Management and Budget.[2]

After leaving the Reagan Administration during the second term, Kudlow returned to Wall Street and Bear Stearns, serving as the firm's chief economist from 1987 until 1994. During this time, he also advised the gubernatorial campaign of Christine Todd Whitman on economic issues. In the late 1990s, after a publicized battle with cocaine and alcohol addiction, Kudlow left Wall Street to become an economic media commentator – first with National Review, and later hosting several shows on CNBC.

Kudlow returned to politics in 2018, serving as Gary Cohn's replacement at the National Economic Council.

Larry Kudlow - Wikipedia
 
I'm thinking Kudlow has forgotten more about Wall Street and government than you will ever know.

You are probably right, which makes his comments even more self serving.
 
I'm thinking Kudlow has forgotten more about Wall Street and government than you will ever know.

LOL, our memories are so short. Here's Kudlow in December 2007. As you might recall, this is exactly when the recession started:

Kudlow 101: There Ain’t No Recession | National Review

So you’re looking at $332 billion of profits in the latest quarter, that’s a little less than last quarter. But it’s $20 billion more than the first quarter, $20 billion more than all of ‘06, and about $60-70 billion more than ‘05.

The point of the story is even if Wall Street takes $200-300 billion in mortgage losses, as a result of loan markdowns, profitability is more than adequate to stem the tide and hold us.

There ain’t no recession.

More from December 2007: Bush Boom Continues | National Review

Yes, economic growth may indeed pause to roughly 2 percent in the next couple of quarters, the result of two years of overly tight money from the Federal Reserve and the ensuing upturn in sub-prime defaults and foreclosures. You can call it Goldilocks 2.0. But you can’t call it a recession.

Six months into the recession: If Things Are So Bad . . . | National Review

Phil Gramm was right: We are in a mental recession, not an actual recession. And the low-tax, free-trade, free-market, capitalist economy is a whole lot more resilient and durable than the pessimistas and declinists would have us believe.

Bottom line is Larry Kudlow is a more or less permabull, and has been his entire career a shill for Wall Street. The good news for someone like him is the markets generally go up every year, and there are a lot more years of economic expansion than recession, so he's right most of the time. But anyone depending on him to warn you of the big turns in the economy or the markets isn't very smart.
 
No. It makes him smarter about economics than the lot of you.

I don't doubt that, but I'm self aware enough to know I don't know more than lot's of people. Like doctors. You believe Kudlow 'it's almost airtight' when I believe the CDC 'cross community spread will occur in America'
 
It was amusing to hear Mr. Lawrence Kudlow, a major economic adviser to President of the United States of America Donald Trump, pontificate on the stock market with respect to the present virus outbreak.

I've learned, over many decades, that when someone touts either stocks or horses, a good question to ask is, 'What do you do for a living?' Unless the answer's 'I haven't worked in years. I just take my own advice and apply it,' you know you're talking with someone who can't even support himself with his own tips.

'Nuff said.
What are you talking about? Kudlow has been a financial advisor practically his entire career. That wouldn't be true if his "touting" hadn't been valuable and accurate. I'd also guess he follows his own advice.
 
I don't doubt that, but I'm self aware enough to know I don't know more than lot's of people. Like doctors. You believe Kudlow 'it's almost airtight' when I believe the CDC 'cross community spread will occur in America'
I think eventually coronavirus will be curtailed or eradicated. And when that happens there's gonna be a huge demand for the products and services that have been delayed and which have been driving the markets down.
 
No. It makes him smarter about economics than the lot of you.

But he was pontificating on the virus, and on that he's just as ignorant as the rest of us.

“We have contained this, I won’t say airtight but pretty close to airtight,” Kudlow told CNBC’s Kelly Evans on Tuesday afternoon.

I'd make a sizable bet that will go down in history like his "Recession? NO RECESSION!!" calls in late 2007 and 2008. Not because I know better, but all those who do, such as the professionals who study and deal with pandemics, believe the spread is inevitable, and that opinion is AFAIK unanimous among those experts.

You can of course listen to a Wall Street permabull on health matters, but some of us will pay attention to health experts on health matters.
 
What are you talking about? Kudlow has been a financial advisor practically his entire career. That wouldn't be true if his "touting" hadn't been valuable and accurate. I'd also guess he follows his own advice.

Let's say your area gets rain on average every tenth day. You can be correct 90% of the time by knowing exactly nothing about the weather, and predicting sunny skies every day, no matter what. That's basically Kudlow in a nutshell.
 
What are you talking about? Kudlow has been a financial advisor practically his entire career. That wouldn't be true if his "touting" hadn't been valuable and accurate. I'd also guess he follows his own advice.

Hi! Like I said.

Regards.
 
Let's say your area gets rain on average every tenth day. You can be correct 90% of the time by knowing exactly nothing about the weather, and predicting sunny skies every day, no matter what. That's basically Kudlow in a nutshell.
No, it's basically JasperLconomics in a nutshell. :lamo
 
No, it's basically JasperLconomics in a nutshell.

Here's more Kudlow in Nov 2007, a month before the Great Recession started:

RealClearPolitics - Articles - Three More Years of Goldilocks?

That said, I think the election-year economy will be stronger than the Fed's estimate -- closer to 3 percent. Too much is being made of both the sub-prime credit problem and the housing downturn. A recent Bank of England study shows that residential mortgage-backed securities in the U.S. total $5.8 trillion. Of that, only $700 billion, or 12 percent, are sub-prime. Even when you add in $600 billion of so-called Alt-A mortgage paper, most of which will not default, the total of these home loans is still less than 20 percent of all mortgage-backed paper.

What's more, the entire market in sub-prime debt is just 1.4 percent of the global equity markets. On any given day, a 1.4 percent drop in world stocks would erase the same amount of value as the collective markdown of all sub-prime-backed bonds to $0. It's just not that big a deal.
 
And where the article where you predicted the great recession?

LOL... It's not about me

BreakableDeliciousCapybara-size_restricted.gif
 
I'm thinking Kudlow has forgotten more about Wall Street and government than you will ever know.

Kudlow has a bachelors of arts in history. :lol:
 
Kudlow has a bachelors of arts in history. :lol:

LOL!!

Decades of experience in economics, Wall Street and government means nothing because he "has a bachelors of arts in history".

Okay.

Moving on...
 
No. It makes him smarter about economics than the lot of you.

How smart can he be, he works for trump. Isn't he the same larry that lamented the president's tariffs until he took the position and then loved the tariffs?

Nobody around trump is allowed to offer their own opinion. Everything you hear from trump's team might as well be trump speaking.
 
And where the article where you predicted the great recession?

Oh boy. No wonder the right is so confused. Kudlow was saying right before the markets started its slide to 6500 the basics were solid and no need to fear a recession.

Oddly enough it was the same thing the bush/cheney administration was trying to push off on the public. Everything is sound, no worries.

I really think the right likes being lied to.
 
How smart can he be, he works for trump. Isn't he the same larry that lamented the president's tariffs until he took the position and then loved the tariffs?

Nobody around trump is allowed to offer their own opinion. Everything you hear from trump's team might as well be trump speaking.

I think he realized that Trump is right.
 
LOL!!

Decades of experience in economics, Wall Street and government means nothing because he "has a bachelors of arts in history".

His experience is worth ****: he's gone on the record dozens of times making false accusations, predictions, etc.... Larry Kudlow is a partisan cheerleader covered in 3 pounds of makeup.
 
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