Thursday, March 15, 2018

The Kudlow pick

Obviously, it's great.

I have sometimes rolled my eyes at Kudlow's incessant pony-in-here-somewhere optimism, always seeing a golden age right around the corner. (In 2010, in the middle of the era of utter stagnation, he famously penned a column called "A V-Shaped Boom Is Coming".) And sometimes his tendency to wax wonky at moments when a broad perspective is called for comes off as a bit tone-deaf.

But then you read his pieces that do take culture and the world stage into account, and you realize he's quite a seasoned observer after all. He's also quite devout in his faith walk, due in large part to the seriousness with which he takes his 17-year addiction recovery.

The timing is interesting, and gives us another aspect of the way Trump builds a team to ponder. Kudlow, along with Stephen Moore and Arthur Laffer, was pretty much outraged by the tariff move.

Kudlow seems to have been surprised to get the call:

Mr. Trump called Mr. Kudlow on Sunday while the commentator, an avid tennis player, was on the court. “I thought he was calling to bawl me out because I was so critical,” he said. Instead, he said the president walked through his reasons for implementing tariffs.
Mr. Kudlow said he spoke by phone again with Mr. Trump on Monday and again on Tuesday night, when he said the president offered him the position. 
“I immediately accepted,” he said.
It will be interesting to see how he interacts with the die-hard protectionist Peter Navarro, currently head of the White House trade council. What kind of synthesis of their widely divergent views can be forged?

Did you know that Larry Kudlow actually doesn't have any kind of economics degree? And that he went through a peacenik phase?

Mr. Kudlow, who grew up in a Republican family in northern New Jersey’s upwardly mobile suburbs, became a leader of the antiwar movement during the Vietnam War. He earned a bachelor’s degree in 1969 from the University of Rochester, where he majored in history. He later studied politics and economics in a graduate program at Princeton University’s Woodrow Wilson School.
He didn’t finish his degree but landed a job as an assistant to Paul Volcker, then the president of the New York Federal Reserve, before jumping to Wall Street. At 28, he became chief economist at Paine Webber, a prominent brokerage firm, and later took the same position at Bear Stearns, even though he lacked an economics degree.

After a turn through government—he served as the top economist to Reagan budget director David Stockman—he returned to Bear Stearns. In 1994, he resigned and subsequently acknowledged a drug and alcohol addiction. It isn’t clear whether that episode could complicate efforts to obtain security clearances.

For the last 17 years, he has appeared as a commentator and host on various CNBC and radio programs, and he has toyed with running for the Senate as a Republican.
He just likes to study human behavior from an economic perspective. It's something that has piqued my interest increasingly over the years.

As I say, a great pick. He understands what makes for a freer and more prosperous society. Let's hope his influence prevails.

26 comments:

  1. Born Jewish, switched to Catholicism in mid 90s. Wonder if he and Newfie receive the Eucharist because the conservatives in the Catholic Church have continually brought up Pope Francis's call for mercy in that regard as evidence for his deviation from doctrine.

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  2. But of course all that matters now is strict adherence to principles and promises in their public life that has been lacking in their past personal life. They're Boomers!

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  3. Exactly. His supply-side orientation is going to be a great asset to this administration.

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  4. As you know, I'm predicting another meltdown as bad or worse than '08 during the Trump one term.

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  5. I recall when people with principles adhered to them in their personal lives as well, but, oh well, as long as they don't send us all to join them in Helsinki.

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  6. So cut our youth some slack like we cut slack for guys like Kudlow. Trump? Well, he was born rich so he has been cut slack all his life and it sure shows.

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  7. Wait a minute. Are you saying that a principled person has to be completely devoid of frailties? Excuse me, but since Kudlow's crash and burn, he has been as focused as one can be on his faith walk. He took a pass on a Senate run because he thought it might imperil his sobriety.

    The idea that Kudlow and Trump are on the same moral plane is ludicrous. In fact, Kudlow nearly cut all ties with Trump over the Access Hollywood tape.

    And what do you mean "cut our youth some slack"? For what? The preventing of appearances by conservative speakers on university campuses? The insistence on courses on "privilege" and on "sage spaces" and "trigger warnings"? The rampaging through libraries and dining halls, interrupting other students' study sessions and meals? The moral preening of the high-school students who walked out this week who are willfully ignoring the incompetence and cowardice of the Broward County sheriff department, choosing to focus on AR-15s instead? Kudlow never in his life did anything as stupid as the examples I've enumerated here.
    And quit mixing apples and oranges. I give Trump no pass on anything. I think it's horrible that he carried on affairs with both Stormy Daniels and Karen McDougal while his third wife was giving birth to his fifth kid. Take that shit up with the excuse-making scumbags who have it coming, like Kurt Schlichter. That's not my ilk.

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  8. Like other privileged American Jews of his time, Kudlow was a campus radical turned "straight" and now he's going to have the national purse strings in his hands and you're acting like he's some kind of economic savior. I'm not buying it. Besides, I have serious doubts that trickle down is the answer to anything in this age of increasing economic inequality that is only going to worsen over the next 30 years as artificial intelligence takes away more jobs, leaving more people on the demand side demanding. We all have our faith walks.

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  11. Did I point out any other similarity between Kudlow and Trump other than they have each been married thrice? 60 years ago a twice divorced and thrice divorced man could not get appointed to dog catcher. Trump helped lower the bar. Just what you would expect a rich arrogant bully to stand for: trickle down.

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  12. "Trickle down" is an astoundingly stupid term that nobody but hared leftists has ever used.
    It's glaringly obvious what you're trying to do here: bring up shortcomings that have little to nothing to do with the correctness of his economic understanding.
    "Privileged American Jew" further reveals the hard leftist identity-politics-driven agenda being attempted here.
    You would not attempt in a million years to take on the actual substance of the principles of a guy like Kudlow not because you don't understand them but because their basis in freedom scares you to death.

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  13. You must be drunk again. McMaster is next so you will have a new appointee to gush about tomorrow.

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  14. And what were a large portion of the campos radical leaders back in the day but privileged American Jews who were also the first to sell out?

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  15. Oh I see, you think Kidlow's " principles " are foreign to me? I'll be so humble as to just say if you're not drunk you're friggin nuts.

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  16. No, reread my most recent comment, particularly "not because you don't understand them but because their basis in freedom scares you to death." You definitely are familiar with his fundamental premise that when people and businesses get to keep all their money save for what is needed for government to perform its original Constitutionally specified functions, it enhances general freedom and prosperity. It bugs you because then those people and businesses are beyond the grip of the leviathan state.

    And my understanding is that McMaster will be replaced by the magnificent John Bolton. About time he was put in charge of our nation's security.

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  17. It does not scare me to death. Why would it? I've just seen the results. There are few humans on earth that can truly be called magnificent, but John Bolton isn't one of them. How long do you think he'll last? This administration needs to be slapped hard in the mid terms and out of there in one term.

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  18. We must be preparing for war and of course Bolton will facilitate that. Snakes can hide in the grass for a long time waiting to strike.

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  19. Alas, Uncle Donnie wants to see change and he thinks we do too. No shortage of the ambitious also-rans ready to serve

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  20. "John Bolton, former ambassador to the United Nations in the Bush administration, is one of the most radically hawkish voices in the American foreign policy conversation. He has said the United States should declare war on both North Korea and Iran. He was credibly accused of manipulating US intelligence on weapons of mass destruction prior to the Iraq war and of abusive treatment of his subordinates. He once “joked” about knocking 10 stories off the UN building in New York."

    https://www.vox.com/world/2018/3/12/17091772/john-bolton-trump-national-security-adviser-war-iran-north-korea

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  21. "I operate on the assumption that John Bolton should be kept as far away from the levers of foreign policy as possible,” says Christopher Preble, the vice president for defense and foreign policy studies at the libertarian Cato Institute. “I think I would rest easy if he was dog catcher in Stone Mountain, Georgia. But maybe not.”

    Ibid

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  22. That dog shit about abusive treatment of subordinates has been thoroughly debunked.

    Of course the Cato Institute is going to have that view. As I've said n=many times before, libertarians are spot-on when it comes to economic liberty, but tend to have their heads up their asses when it comes to foreign policy.

    I love the joke about lopping ten stories off the UN building. As you know, the LITD position is that the UN is useless at best and really closer to being a poisonous force in the world.

    With regard to North Korea, if you look at his statements over time, his main thrust is getting the Korean Peninsula unified. Since the North's nukes-and-missile program has accelerated, he has indeed said that a preemptive strike might be the only viable option. But if he comes in at this time, as preparations are being made for a Kim - Trump face-to-face meeting, I'm sure he'd tailor his approach to optimizing the possibilities of that.

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  23. Hey, how come you hawks got all riled up every time Obama said he was going to meet with the enemy and now with Trump (the absolute worst) you appear to think it's fine?

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  24. And if Bolton was mean to his subordinates he will finally meet his match.

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  25. I didn't say I thought it was fine. For any of these things where you presume my position, you can go back and find posts on them.

    In fact, on this one (Kim - Trump meeting), you'll recall that you commented twice under it:

    http://barney-quick.blogspot.com/2018/03/the-proposed-vsg-kim-meeting-initial.html

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