Fire Kudlow: Auto Bailout Edition

Kudlow is back to politicizing the markets. After nary a peep during a rally crediting Obama’s policies for the moves up, he’s back on the “it’s Obama’s fault the market is down”. He also is making socialism allegations about how the government can’t run corporations well. I want to point to Conrail as a perfect example of how it CAN run corporations better than private owners AND transfer it eventually back to private ownership.

Fire Larry Kudlow: Now a regular feature

I’m adding this as a regular feature on my blog because it is my sole goal in life to see him publicly fired. I think he’s off the wagon as well, so firing him might send him back to rehab to quit whatever drugs he’s addicted to now.

This morning he was ranting and raving about how $25/bbl oil would destroy that “socialistic, communistic whatever” Venuzuela. It would also mean we were in a severe recession, but Kudlow would still be happy talking about an “energy tax cut”. He’s an idiot, a sociopath and a fraud. Fire him!

Socialism

One of the most egregious linguistic-political tool of right-wing commentators on CNBC is the use of the terms ‘nationalization’ and ‘socialism’. They use this to conjure an idea that the government wants to take over banks and insurance companies like the black hole formerly known as AIG and Citigroup. The term ‘nationalization’ also belies the true objective of government action: to dispose of failed institutions that are much larger than the FDIC has the bandwidth to handle.

The idea that the government wants to own failed and insolvent banking institutions to direct the economy along ‘socialist’ lines is false and the further use of the terms only serves the political objectives of the people who are using them. Again, a distraction from the business of CNBC which is to report on what is actually happening in the financial markets and (unfortunately) to sell retail investors stock and funds they might or might not want to own.