Larry Kudlow Says "There Is No Recession In Sight"

Jan 2016

That should make you very nervous.

Here's why. Larry Kudlow was saying the SAME thing back in late 2007. Just as America was entering into the Great Recession, the worst economic downturn since the Great Depression of the 1930s. In fact, back then, Larry said that George W. Bush's economic 'plan' was working 'splendidly'. That's the word he used, 'splendidly'. Just before we embarked into the most terrifying financial crisis in the lifetimes of almost everyone who went through it, save for the few who were alive back in 1929-1933.

Larry, you see, has GOT to be the all-time WORST economic forecaster. In 1993, he said that Bill Clinton's rather modest tax hike on the rich, which he falsely called an 'across-the-board' tax increase, could plunge the economy into the Second Great Depression. Oops. It actually triggered the longest economic expansion in American history to this point. Our current expansion will match it if it keeps going until June of this year.

So, you see, when Larry says there is no recession in sight, his words should actually give you a case of the heebie-jeebies. They should give you a case of the willies.

We DO have an inverted yield curve, and that's the CLASSIC sign or indicator of a looming recession down the road. For what that's worth. Shrug.
Jan 2016
Digression, or call it a parenthetical aside: I LOVE that expression, 'it gives me the willies.'

And that expression is not much more than a century old, having made its first appearance in the year 1900, inspired by a piece of silly doggerel that was published in a London newspaper that year:

Willie, in one of his brand new sashes
Fell in the fire and was burnt to ashes.
And now although the room grows chilly,
I haven't the heart to poke poor old Willie!
Sep 2013
On a hill
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