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The human toll of the tsunami - per CNBC's Larry Kudlow

Discussion in 'Sports and News' started by poindexter, Apr 5, 2011.

  1. MrHavercamp

    MrHavercamp Member

    So you're saying people watch CNBC to get a gauge of how the money grabbers fucked over the middle class at the end of another day.
     
  2. YankeeFan

    YankeeFan Well-Known Member

    Ragu, I don't expect anyone to believe he's a "great guy" based on my posts and that's not important to me.

    But, it's also ridiculous for people to decide he's hell bound based on one poorly worded comment.

    Personally, I believe he's a good guy. I don't know him well, but I've met him on several occasions and I thought he was ok. I also know several people who have worked with him at various stages of his career and they all speak highly of him -- even the people at Bear who worked with him when he had a major coke problem.
     
  3. YankeeFan

    YankeeFan Well-Known Member

    I don't think I was the one sending the thread in different directions.

    I was attempting to respond to ludicrous comments. And, I'm sorry, but it's pretty clear to me that some of the vitriol directed towards Larry is because he's a Republican/conservative/capitalist.

    As for the Enron thing, I was just trying to let you know that I don't need an education on Enron. I lived through it. My boss's husband worked there and so did the wife of one of the guys who reported to me.
     
  4. poindexter

    poindexter Well-Known Member

    So since you can read people so well, tell me exactly what he was trying to say. You read/heard the quote. You read the twitterpology.

    What did he mean to say? I tried for 15 minutes to replace 'markets' in there, and couldn't come up with it.
     
  5. The Big Ragu

    The Big Ragu Moderator Staff Member

    I'll never completely ridicule someone with a drug addiction, because I understand it is a disease and it is debilitating. But jeez what that guy did to himself -- and how many fuck ups were covered up by others -- was almost beyond belief.

    Larry made a ton of money for Bear Stearns until he became a liability. His current wife, Judy, was once a pretty good lobbyist and a mouthpiece for Ronald Reagan. She's almost as flamboyant as Larry, but I believe she has been a steadying influence on him. Of course Larry himself was very politically connected, too. So that was his main value to Ace Greenberg and Bear Stearns' clients. His value wasn't as a prognosticator. It was as a guy who had the access to pay for play.

    But jeez, did that guy have a problem. He had people covering him -- and the number of fuck ups is mind boggling -- for a long time. The day before he was finally fired, he stood up 200 institutional investors, who represented who knows how many millions of dollars of business for Bear Stearns.

    I don't think Larry Kudlow is going to hell. I think he's a bit of a clown, though. He's been a clown as a political hack. He was a clown as a market economist. And he's a clown on TV. He's also a guy who can't be trusted in high stress jobs, whether it is at Bear Stearns or as an advisor to the president. He loses it and bad things happen -- to the people he's working for and to Larry Kudlow. He belongs on CNBC spewing bullshit. He can do relatively little harm there.

    My main problem with him is that he has one play in the playbook: Cut taxes! It is not only moronic, it offers a false panacea in a vacuum. It doesn't take a stroke of genius to spend 30 years advocating tax cuts. And it is always a way to make yourself popular with people. He can twist himself into 1,000 positions to explain why tax cuts are the answer for everything. I'll bet he's argued that tax cuts can cure rheumatism.

    The people watching CNBC aren't getting economic news. They are old people at home during the day, hoping to get stock tips, which of course you are never going to get from CNBC. In that context, I agree what Kudlow said off the cuff was pretty callous. He probably didn't put much thought behind it. He's not an evil guy. But he's also a guy with a history of not putting enough thought behind things.

    And as for the rest of CNBC stuff in previous posts, most of what CNBC puts on the air isn't news, and it is disastrously wrong about so much of what it puts on the air. And by the time it is reporting anything -- to the extent it does report -- the markets it is reporting about have already filtered the "news" through.

    I have a friend/mentor who trades futures -- he hasn't had a losing year in 30 years and has had several million dollar + years. Without getting too into it, he uses a very common sense price momentum discipline that I could explain relative easily (but in my usual wordy way). One ancillary thing he looks at for potential pullbacks in positions he holds is what CNBC is putting on the air. If it is on CNBC, it is often a predictor of a dip, even if it is just a temporary pullback in the midst of a solid trend.

    CNBC is a joke.
     
  6. Ben_Hecht

    Ben_Hecht Active Member

    Oh, for heaven's sake.

    Believe you can count those eager to discard the capitalist system on this board on one hand, with fingers left over. So pitch that paper tiger.

    And there sure as hell is a place for responsible Repubicanism in the public discussion, though its
    practitioners are finding it hard to maintain elbow room among the hosts of wingnuts currently
    dominating the landscape.

    But at 7 PM weekdays in the East, Kudlow continues to do his shuffling tapdance for his pet audience.
    He can't bury his history. It's there. And despite his occasional stabs at being a responsible spokesman, unbridled underregulated grifting/angleshooting by irresponsible financial-industry practitioners is not good for the marked majority of this country's citizens.
     
  7. lono

    lono Active Member

    Ha. This debate is nothing.

    On CNBC this morning, Joe Kernan said the staff was going to "self-fellate."

    Backpedaling furiously, he changed it to "self-flagellate."

    But I saw that look in Becky Quick's eyes.
     
  8. Big Circus

    Big Circus Well-Known Member

    AWESOME.
     
  9. Football_Bat

    Football_Bat Well-Known Member

    Kernen.

    I only know because I tried to find a YouTube clip. That's incredible.
     
  10. DanOregon

    DanOregon Well-Known Member

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