Saturday, February 06, 2010

Kudlow and the Krazies



I think I’ve made it clear that I don’t know much about money. Unfortunately (well, in a good way) I have some money I have to tend to from time to time. That led me to watch a little CNBC today and I happened to catch part of The Kudlow Report.

I don’t know if you ever watch CNBC but the actual programs play out on about a third of the screen while graphs and crawlers and numbers whiz by on the rest of the screen. It gives me a headache. But anyway, as I’m watching Mr. Kudlow talk, the message below him says “Obama’s War on Business”.

Huh ? I watch a lot of news. I didn’t know President Obama had declared war on “Business”. Well, you know me, I started looking around. I’ve never even heard of Larry Kudlow. But Mr. Ludlow has a really impressive background. Well, except for that little addiction problem. And I’ll be honest, I thought “supply-side economics” went out of vogue back when Poppy Bush had us reading his lips.

But I kept digging and I found out that Obama’s WoB (War on Business) wasn’t new. Check out the date on this from U.S. News and World Report -- Business.

”By JAMES PETHOKOUKIS
Posted: February 27, 2009

Last October, I wrote the following.
"if Barack Obama is elected president next week, 2009 may well bring a concerted and all-out effort by the Obama administration and a Democratically dominated Congress to turn the generally pro-Republican Investor Class into an endangered class by, among other tactics, raising investment taxes and ending the tax preferences for 401(k)'s, IRAs, and other retirement accounts.... " “


Mr. Pethokouis then refers us to Mr. Kudlow’s piece that makes his case that President Obama declared WoB (capitalism in general) during his first “State of the Union” address that really wasn’t. (It was a speech to a joint session of Congress.)

Are you following along here or are you just getting a headache (like I did) from all this ? Let me spare you the thousand words and soothe your eyes (and maybe your wallet) with this picture.




That’s “The Market” -- the Dow, the S&P and the Nasdaq -- since President Obama took office.

Again, I don’t know anything about money but it looks to me as if President Obama’s War on Business has been a total failure. I’m telling you, Obama can’t do anything right.

Don Brown
February 8, 2010

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