Famed investor Wilbur Ross recently told CNBC that “Trump represents a more radical new approach to government that the nation’s economy desperately needs.” He’s right. Trump seeks an overthrow of the establishment. He’s a disrupter. Just what we need to fix the economy.
Larry Kudlow | All Articles
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Larry Kudlow is a senior contributor on CNBC
The May jobs report was a shocker, with nonfarm payrolls up only 38,000 and private jobs up a mere 25,000. A lot of investors and economists are making the case that this was a weird, one-off, statistical glitch, and that stronger employment is on the way. They may well be wrong.
This column was co-authored with Stephen Moore, chief economist at the Heritage Foundation
Mark Zuckerberg and his massive social-media site Facebook have come under strong criticism for allegedly suppressing stories of interest for conservative readers from its influential “trending” news section. Facebook has roughly 1.6 billion users worldwide, of whom 167 million are in the United States. Its “trending” topics is therefore a powerful political influence.
Cathy McMorris Rodgers, the GOP House leadership member from Washington state, finally uttered the words I’ve been waiting to hear with respect to Donald Trump’s march on the nation’s capital. In an NBC News interview with my pal Luke Russert, she said that Trump is a “disrupter,” and we have to learn that that’s a good thing.
Donald Trump has swept the primaries and is now the presumptive GOP presidential nominee. His almost unbelievable primary surge -- from New York to Indiana -- was nothing short of breathtaking. He has confounded almost all the pundits and a majority of elected officials.
Co-authored with Stephen Moore, an economist at the Heritage Foundation.
Donald Trump’s landslide victory in the New York GOP primary was a game-changer. It ended his Wisconsin slump and set the stage for an across-the-board sweep next Tuesday in Pennsylvania, Maryland, Delaware, Connecticut, and Rhode Island.
Does the U.S. government want to help American business or not? Does the administration want to help middle-income wage earners or not? Does team Obama want to grow the American economy at its historic 3.5 percent long-term trend or not? Apparently, President Obama’s answer to all three questions is “no.”
Speaking before a packed audience at the prestigious Economic Club of New York, Fed chair Janet Yellen basically announced that there would be no rate hikes for quite some time -- maybe once before year end, maybe not. Her key point was that the global economy is worse today than it was in December, back when the Fed took its target rate up a quarter point. I think she’s right.
My friend Jonah Goldberg has written a column entitled “Conservative Purists Are Capitulating with Support of Trump.” In this piece, Jonah goes after me and Stephen Moore for allegedly giving up our free-market principles for what he calls “purely consequentialist reasons.” I am not sure of the full meaning of this phrase, but it sounds like we’ve changed our beliefs because Trump is the leading candidate in the GOP presidential race.
The good news is that the economy is growing at 2 percent and that there’s no recession in sight (barring a complete collapse of profits). The bad news is that the economy is growing at 2 percent. It’s been doing so for nearly 15 years under Democratic and Republican administrations.
In the week leading up to the New Hampshire primary, a few GOP candidates put forth a strong, positive, optimistic message of economic growth. Donald Trump did it, and it contributed to his landslide. John Kasich did it, and he surged to second place. Jeb Bush put his best growth foot forward, and he nearly took third place. Others, not so much, and their numbers sagged.
Most political reporters are fixated on the presidential horserace rather than the message candidates are sending to voters. Message wins all the time. Message moves polls. Message raises money. Message determines elections.
Early in the new year, on Sunday, January 3, Federal Reserve vice chair Stanley Fischer delivered a hawkish speech to the American Economic Association. Completely misreading the economy, which is woefully weak while inflation is virtually nil, Fischer strongly hinted that the Fed would be raising its target rate by a quarter of a percent every quarter for the next three years.
The speed of the news cycle and the media obsession with the presidential horseraces have crowded out a crucial development in the war on ISIS and related Islamic jihadist groups.
GE’s decision to leave Fairfield for Boston is another sad marker in the downhill slide brought about by Connecticut’s high-tax, high-regulation, anti-business policies of the last 25 years.
The Dow Jones lost over 1,000 points last week. It’s down 9 percent over the past year. The broader S&P 500 also got clobbered, and is down 7 percent in the past year.
By all accounts, ISIS is the wealthiest terrorist organization in the world. By far. In round numbers, ISIS is said to have a $2 billion stash, which is keeping it afloat. Most of it comes from oil sales. Much of it comes from plundered banking funds. And the rest of it comes from taxing locals, selling stolen antiquities, and kidnapping ransoms.