Last minute fill in on tonite’s Kudlow & Co. — just the first segments, from 7:00pm to 7:20pm or so, on CNBC.
The always enjoyable John Rutledge, the New York Sun’s Elizabeth Peek, and Don "Housing has zero impact" Luskin.
Should be barely tolerable fun . . . .
~~~
UPDATE: October 17, 2007 5:50 PM
I wanted to jump in and defend Gretchen Morgenson, a fine investigative, Pulitzer prize winning reporter.
You will laugh when you hear the "accusations" against her, like her obsession with fairness for shareholders.
Seriously . . .
UPDATE: October 18, 2007 9:50 AM
Gretchen Morgenson in today’s NYT: Countrywide Chief Is Said to Face S.E.C. Inquiry
We really cannot have these journalists poking around, identifying when Management is ripping off their shareholders . . . this must be stopped!
Don’t drink the water!
Every time Kudlow says something stupid–kick him in the croch under the table—lol–your leg may get tired from having to kick him so many times!!!
stick with ‘barely tolerable’
BR… the voice of reason in a den of jackals
Berry-
I watch you on Kudlow, I agree with you about housing and the CPI, people are getting hurt. Public is being deceived, high oil is a tax and will hurt USA, however, Kudlow and Uncle Ben don’t care.
“Care for us! True, indeed! They ne’er cared for us yet: suffer us to famish, and their store-houses crammed with grain; make edicts for usury, to support usurers; repeal daily any wholesome act established against the rich, and provide more piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and there’s all the love they bear us.” Coriolanus Act 1- Shakespeare
Dark pools will become a story in the future. The best question from nasty Luskin was who is dumb enough to buy Morgans stake in the Times. Nice job Barry I love how they all say there;s no inflation but admit a rising gold price is a sign of coming inflation. And so far I haven’t heard anything on the TIC data which should be a much bigger story, I suppose one month does not make a trend. You looked good too Barry, I know it matters to you. lol
Damn as much as I don’t Luskin, he just advocated repealing the FED and he supports Ron Paul, geez maybe the guy does have a heart.
Yeah, the NYT is all that liberal. Judy Miller. Michael Gordon. David “Bobo” Brooks. Tom Friedman. Give me a break Kudlow!! Who was whining on Kudlow’s show about the two different classes of NYT stocks. The “A” and “B” shares. They complain about that, but don’t complain about a company like Comcast that has pretty much the same stock structure.
Speaking of subslime in housing, China says ‘it’s not going to happen here’ with a new regulation.
“According to the new regulation, the minimum down-payment required for mortgage loans to first home buyers must be no less than 20% of the total price of the premises for housing smaller than 90 square meters and no less than 30% for those bigger than 90 square meters.”
http://www.atimes.com/atimes/China_Business/IJ17Cb01.html
Hey Barry, has Larry changed his tune any? I no longer get television because I don’t like the way they spoon feed everyone, (Let the masses drink Jim Jones’s cool-aid, not this guy.). Not that I’m a freak or anything…lol But the last time I listen to old Mr. Kudlow, he was still chewing on the old Goldie-locks, soft-landing, oh, and the “greatest story never told.” Does he still harbor such beliefs? Seems to me that even if we do go nothing but up from here, a man of his standing, and percieved wisdom would have fore told of capitalist destruction, of the mortgage melt-down, the SIV debacle, etc. Perhaps I don’t understand that talking heads like him really don’t have the information they need to make such judgements? Surely, it wouldn’t be a case of look the other way now, would it?
Maybe you should get inoculated next time like those committee staffers that went to the NASCAR race….
Next time your on perhaps suggest a trade:
In equal slices get rid of the amt as we know it and recreate it with increases taking into account inflation and reverse/increase taxes from the very top down. If it eats up the whole previous tax cut re-adjust estate taxes in the same manner. (pre 2010 sunset).
So if it changes 0% in revenue what would a conservative have to complain about?
Thn the middle class might spend more and somone is just going to have to suffer and not buy that new Rolls Royce land yacht. Oh I forgot they can get it anyway. The poor rich are just going to have to settle for something crappy like an Aston!
I think it only polite that as an invited guest of Mr. Kudlow you should arrive bearing gifts. May I suggest a sixpack of pudding cups and a package of Kool-Aid?
Now GDP is EX-HOUSING ?
So, not only are we supposed to forget about runaway food & energy prices, now we’re supposed to forget about the collapsing housing market. Not to mention that if you take away military and other spending in Iraq and Afghanistan, GDP is negative.
Another round of the Purple Kool-Aid for everybody !
.
“The reality is the U.S. economy is muddling along. Our growth rate, year on year for the second quarter, is 1.9 percent. But if you take away the housing sector, the growth rate is 2.9 percent.”
But then if you take away the muddle class buying things they used to be able to afford but now cannot afford so it goes on plastic sector, the year over year growth rate drops to a minus 6.7%.
Always enjoy your efforts to somehow balance that which cannot be balanced, i.e. Kudlow and his merry band of plutocrats. Thanks to CNBC, however, I no longer have to fast-forward the DVR past Liberace Larry to get to the occasionally-useful Fast Money. I’ll rewind tonight to catch you, but Rutledge and Luskin always send me right ’round the bend.
Sum’bitch!… Barringo!… Damn you are gettin’ gray!
…Hey, I apologize for all that Chicken Suit stuff… I’ll lay off.
Maybe you can “wash that gray right out’o yore hair!”… but be careful:
http://tinyurl.com/35zq2r
Would be terrific if Kudlow and Co would spend some time on the ChiCom inflation problem.
Winston Munn said:
But then if you take away the muddle class buying things they used to be able to afford but now cannot afford so it goes on plastic sector, the year over year growth rate drops to a minus 6.7%.
Hello Winston-
I won’t challenge your calculation, but I gather that you are just saying that in the aggregate people spent more than they made via plastic and real growth has to factor that in? Whether via plastic or whatever portion of MEW went to new purchases vs. debt reduction, hasn’t that been true for at least a generation, maybe two? Yet we are all still here.
Consumer debt isn’t a bad thing in itself, it’s only when the bankers start relaxing reasonable credit standards that it becomes a problem at the economy level. Manageable debt (both corporate and consumer) was a big part of the development of the US economy after WWII and is still essential, so I don’t consider it something to be written off against growth. The problem is with debt that could not possibly be repaid and I don’t know what portion of the total that may be now.
At any rate, I hope your semi shorts are still green, but it looks like you might have taken a pounding today.
==whipsaw==
Inflation is just a temporary f-i-g-m-e-n-t of your monetary imagination.
—
BTW, let me say this one other thing:
I would be very grateful to have the opportunity to serve on the: “This-test-is-used-to-prevent-automated-robots-from-posting-comments”-attribute-selection panel, as it must be an exciting institution with wild parties and invigorating stimulative discourse.
http://finance.yahoo.com/q/bc?s=%5ETNX&t=5d
…I was only kidding:
http://www.youtube.com/watch?v=ygKF_AABE6k
Don Luskin… How’s his foot?
April 1, 2005:
Hundred-Dollar Oil My Foot
Quotes:
It’s not just oil. I feel the same way about other commodities like gold, metals, foodstuffs and all the basic materials. Energy and basic materials have been the best performing sectors by a long shot during this bull market. But that’s over. I’m calling the top.
Barry remember do not drink the kool-aid!!!
Hiya Whipsaw,
Naw…no real number crunching….just being feciscious.
Oddly, I did not get hammered on my little shorts – safeguard on these is the 10Q indication foreward going; however, I plan to close them out for a quick scalp as my other indicators tell me I’ve been premature.
However, there is now a divergence opening between the upward plowing Nasdaq and my guide – unfortunately, it is not a timing device but if the divergence continues it will be forecasting a Nasdaq stall or a Nasdaq correction.
I may go back in in 2-4 weeks.