This is going to come as a shock to most people but Larry Kudlow stepped up to the plate today and hit pitch right out of the ballpark.
"Just let it rip, for heaven’s sake", says Kudlow of U.S. economy as he Warns the Fed Against Hiking Too Fast.
Yes, perfect. With that statement, Kudlow laid the groundwork for Trump to blame the Fed for hiking too fast when the next recession hits.
He made the statement in an hour-long interview on CNBC. That's more perfection for you.
Kudlow's Track Record
I have still more perfection for you. I talked about it yesterday with an analysis of Kudlow's Economic Forecasting Credentials.
- Bubble Spotting: In 2005, he said “all the bubbleheads” looking for a housing-price crash in Las Vegas and Naples, Florida, and the wider economy, would be proven wrong.
- Bubble Spotting: In December 2007, the month the National Bureau of Economic Research later dated the start of the recession, he was arguing there was no recession and that the “Bush boom continues.”
- Inflation Alarm: In 2010 he predicted Yellen is Spellin' Future Inflation.
- Oil: In 2014 he argued lower oil prices are unambiguously good.
- Five Percent GDP: In 2015 , echoing Trump, he said the U.S. should have a 5 percent growth target,
- Recession: In 2016, Kudlow predicted a business recession looms.
- Tax Cut: In December, he said Trump’s tax overhaul will lead to 3 percent to 4 percent growth,
- Growth Angels: In December, he said the president is on the side of the “growth angels.”
- Long-Term Interest Rates: In February, he said that a recovering economy could push long-term interest rates beyond 3.5 percent
- Stock Market: He predicted the stock market would go up if Trump was elected.
Kudlow is 1-10. Point 9 is unknown. Let's also add that Kudlow said "I Would Buy The Dollar And Sell Gold".
Clearly, that's sheer brilliance as the following chart shows.
Brilliant? Of course. Kudlow is 9 out of 10 for what Wall Street wants to hear!
Strike that, counting gold, he is an amazing 10 out of 11.
Some of you will no doubt point out that 10 out of 11 is not perfect.
To that I say "tut tut".
Harsh words indeed, especially from me.
ButTrump is only concerned about points 7 thru 10. Kudlow is a perfect 4 for 4. That's what matters.
Measuring in Eyes of Beholder
- We must not measure things as they are.
- Nor should we measure things as they should be and what it takes to get there.
- Rather we must measure things from the perspective of what Trump wants to hear!
The fact that Kudlow is camera-proven and willing to say anything Trump wants to hear is a step above perfection.
Mathematically that is impossible, but once again, one must view this through the eyes of Trump where forces of nature and math do not prevail.
Mike "Mish" Shedlock