The intertubes are all abuzz about something Larry Kudlow said on TV last week:
CNBC’s Kudlow: Be grateful the human toll is much worse than the economic toll from Japan quake!
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CNBC’s Larry Kudlow illustrates why there’s such hatred of the Wall Street ethic, as he suggests that we should be grateful that the “human toll” from the recent horrendous quake in Japan is much worse than the “economic” toll on the markets. Every so often, these guys let their true feelings slip out:
(YouTube / 24 seconds)
This was obviously little more than a slip of the tongue. Its LIVE TV for crying out loud — the guy is on at least 2 hours a day. Everyone who does these live shows eventually trips over their own tongue.
That doesn’t mean it was a major Freudian slip revealing his true thoughts.
Understand that I disagree with Larry about pretty much EVERYTHING. I cannot ever recall being booked on the show where we didn’t have a significant debate about a major issue: We disagreed about nearly everything George W. Bush did, about the credit bubble in 2005, the housing boom in 2006, why you should not buy the banks in 2007, why the market was so dangerous in 2008, why the bailout of Bear Stearns was a terrible idea, and how all of these big banks committed suicide.
But Kudlow did NOT mean what he actually said . . .
I’m scheduled to do Kudlow Thursday night,and I’ll ask about this . . .