Larry Kudlow & CNBC… Flights of Fantasy
I “used” to be a fan of CNBC… but that has changed recently. Someone is pushing an agenda there that is not healthy or helpful. This rah-rah attitude, especially by Larry Kudlow (the Stock market Cheerleader), has become boorish at best. At Worst it could be perpetuating a fraud on its viewers. I stopped Watching Neil Cavuto on Fox Business because he was upset early on in this crises when he said to say we are in a crisis was tantamount to yelling fire in a crowded theater… DAMN IT… if there is a fire it is our responsibility to say so… not stick our head in the sand a pretend that it is not going on…. Obviously there was a fire and the economy has collapsed.
CNBC and particularly Larry Kudlow has become like Fox News and Neil Cavuto way back then…. Take today April 7,2009 at around 11:10 AM Eastern Time as an example…. He stated that the CPI (Consumers Price Index) has risen lately at 8% annual rate and that is great news.. I beg to differ… he states that this means greater profits and should mean higher stock prices… again I disagree… we need to look at WHY these things are happening
Then he states that used car prices have been going up as much as 2% recently.. and that is good news… FOR WHO? I ask… what this means to me is that people either cannot afford new cars or are afraid to buy a new car and that there is now a lack of used car inventory coming into the market and that the demand has risen while the supply has declined … simply supply and demand states that those prices should go up… but WHO does this fact help… certainly not the overall economy… His “fact” is not good news but in fact BAD news for the overall econonmy and us.
Even the other hosts have tried to paint a better future without facts and analysis.. so my viewing of this program is NOT for real information but to foster my greater analysis of what is truly going on in the economy. If you want a “REAL” analysis I suggest you look more at Bloomberg News… they seem to me more fact and analysis then stock market cheerleading and deluding the American Public and investors as to the real problems facing the US Economy.
Am I pissed off… damn right I am.. I want truth… not fiction.. I want real news.. not cheerleading.. I want to know not only what is happening … BUT WHY these things are happening… something CNBC and especially Larry Kudlow has gotten away from and hence have lost my respect in what they are doing on a daily basis.
We have heard that the Savings rate has gone up recently… but has it really… spending has not gone up… and credit card companies are forcing many to reduce their spending while paying down their debt… so unless you consider paying down debt savings… there has been no increase in savings
LAST: Everyone is talking about a recovery… I DON”T KNOW WHAT THAT MEANS ANYMORE….If it means getting back to the way things were prior to the downturn… forget it… not going to happen in my lifetime…. The rules have changed… and those hay days of the past are long long gone… o me… a recovery means no more negative news… and MAYBE an up tick of 2-3 % per year…those excepting more are deluding themselves… we CANT go back to the way things were… and we need to re-evaluate what we as consumers are going to do about that FACT in the future.
