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In reply to the discussion: U.S. consumer sentiment hits 11-month low, inflation in focus [View all]TomCADem
(17,390 posts)5. The genius Larry Kudlow during the 2007 financial catastrophe: 'There's no recession coming.'
Just a reminder, we have been here before with some of the same characters from the Dubya Great Recession years. Remember the Bush Boom?
https://www.dailykos.com/stories/2018/3/15/1749039/-The-genius-Larry-Kudlow-during-the-2007-financial-catastrophe-There-s-no-recession-coming
Presenting the economic super-genius Larry Kudlow, who took to the National Review in December, 2007, to explain that there was no recession.There is no recession. Despite all the doom and gloom from the economic pessimistas, the resilient U.S economy continues moving ahead quarter after quarter, year after year defying dire forecasts and delivering positive growth. In fact, we are about to enter the seventh consecutive year of the Bush boom.
Theres no recession coming. The pessimistas were wrong. Its not going to happen. At a bare minimum, we are looking at Goldilocks 2.0. (And thats a minimum). Goldilocks is alive and well. The Bush boom is alive and well. Its finishing up its sixth consecutive year with more to come. Yes, its still the greatest story never told.
In December of 2007, the mortgage crisis was in full swing. The recession itself officially began that very month, according to the National Bureau of Economic Research. By the time it was over it would be the most severe financial crisis since the Great Depression; multiple of the nation's largest financial firms and other industry titans would require bailouts by the federal government, to say nothing of the effect on small businesses, storefronts, workers, retirees and nearly everyone else.
Not only did Larry Kudlow insist it was not happening, as it did, he wrote columns mocking those that considered the economy less than robust.Earlier today, a doom and gloom economic forecast from Macro Economic Advisors was released predicting zero percent growth in the fourth quarter. This report is off by at least two percentage points. These guys are going to wind up with egg on their faces.
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The genius Larry Kudlow during the 2007 financial catastrophe: 'There's no recession coming.'
TomCADem
Aug 2018
#5
Gas prices, grocery prices...growing impact of tariffs and a nonexistent taxcut
beachbum bob
Aug 2018
#3
Everything our idiot president has been doing is simply adding to the cost of ...
SWBTATTReg
Aug 2018
#4
Yeah, I know...we don't expect anything and the more I learn about the voting discrepancies...
SWBTATTReg
Aug 2018
#20
My niece was home from Seattle last week. She and her partner were looking at houses after
riversedge
Aug 2018
#14
Gotta have minted a couple of million votes right there. Nothing like not being able ...
marble falls
Aug 2018
#12