Larry Kudlow: ‘The $31 trillion debt is too much’

In ‘Kudlow’, FOX Business host Larry Kudlow commented on former Federal Reserve Chairman Ben Bernanke’s past economics and Nobel Prize-winning economics. As you know, former Fed Chairman Ben Bernanke was awarded the Nobel Prize in Economics. My friend said this is the worst Nobel Prize in Economics since Paul Krugman. I don’t know if I’ll go that far, but it’s probably because I know Ben and respect him as a good civil servant and a very good former Princeton professor. In fact, becoming a Republican at Princeton University is no easy feat. So there, this is not personal. But, but I think his suspension policy, especially in the early 2000s, when he kept interest rates too low for too long, made too much. -Strong liquidity, when he took a strong dollar and turned it into a weak dollar, and when all his unhealthy fine-tuning caused a boom in gold, commodities and housing — I think it was a big bummer and that bullshit led to a financial collapse. I think. Especially the mortgage collapse where he had to rescue us later. It’s like a firefighter who wants to turn the ball on and then turn the ball off. not good. It reminds me too much of a mistake made by J. Powell almost two years ago. In September, American inflation expectations fell again, the New York Fed says. Forbes Media Chairman and Editor-in-Chief provides insight into the Fed’s monetary policy on ‘Kudlow’. After 9/11, Bernanke was concerned about deflation, so the major league money supply helicopters actually fell when George W. Bush’s tax cuts successfully fueled economic growth after 9/11. I raise this because the bush has moved to the supply side. He didn’t get credit for it, but he should. He lowered the top personal tax rate and eliminated tax rates on capital gains and dividends. So, when everything, including investments, paid less taxes, we got more, and the Bush boom didn’t have to open up the currency cap significantly. We were doing fine, on the supply side, it worked, the Laffer curve worked, but Ben Bernanke wasn’t watching and it got everyone in trouble. familiar sound? The post-coronavirus V-shaped recovery in late 2020 and early 2021 has been ignored by Biden socialists and modern currency theorists of J. Powell. remember? Everyone cheered for a $2 trillion stimulus package. That said, everyone on the left needed it, but it caused big inflation, and J. Powell opened that currency bung more and more widely. Thanks to Donald Trump’s tax cuts, deregulation and energy dominance, even though the economy was growing 6%. Well, here I am again. It’s just a reverse structure. He thought that Bernanke had to turn the tap on and off and then on again to save America. J. Powell kept the plug and opened it wider. Now he is crouching until there is no tomorrow. I don’t know if this is modern monetary theory or what it is, but I know it was bad monetary practice in both cases. There is an easier and smoother way. When it comes to commodities and physical commodities, keeping the dollar stable and keeping the stopper at a moderate level should stabilize prices. Leave growth incentives to tax, regulatory and restricted spending policies. Currency leverage is for inflation and fiscal leverage is for growth. We’ve been saying this for over 40 years, starting with Ronald Reagan, Jack Kemp, Art Laffer, Steve Forbes and all of us. Now let me tell you one more thing about Ben Bernanke. I don’t know why he and others decided to bail out a failed institution. During that financial crisis we had a chance to get rid of some real turkeys like Fannie and Freddie. They were either privatized or had to remember the madness. Bear Sterns were rescued. Merrill was sold and Lehman went bankrupt. Entire part of AIG’s insurance was destroyed or could have been destroyed, but was rescued. Stanford’s John Taylor often wrote that it was the unknown and fickle bailouts that did so much more damage to the financial world than the opening of the currency cap after the crisis hit us. Governments should not choose winners and losers. Click here to get the FOX News app. Federal Reserve Chairman Jerome Powell will testify before Congress on the economy on Wednesday, June 22, 2022 and Thursday, June 23, 2022. (AP Photo/Jose Luis Magana) (AP Photo/Jose Luis Magana / Associated Press) Still, it’s surprising that today Fannie and Freddie are owned by the US government, also known as the taxpayer. We must not bail out student loans, mortgage lenders, gasoline prices, bullshit, banks, auto companies, semiconductor companies, electric car manufacturers, wind and solar power plants, and insurance companies. How about, make a new bailout-free day or make a day. $31 trillion in debt is too much. Don’t you think? This article was originally published on October 11, 2022 by Larry Kudlow, “Kudlow
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