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Response to sandensea (Reply #2)

Sat Aug 18, 2018, 12:08 PM

5. The genius Larry Kudlow during the 2007 financial catastrophe: 'There's no recession coming.'

Just a reminder, we have been here before with some of the same characters from the Dubya Great Recession years. Remember the Bush Boom?

https://www.dailykos.com/stories/2018/3/15/1749039/-The-genius-Larry-Kudlow-during-the-2007-financial-catastrophe-There-s-no-recession-coming

Presenting the economic super-genius Larry Kudlow, who took to the National Review in December, 2007, to explain that there was no recession.

There is no recession. Despite all the doom and gloom from the economic pessimistas, the resilient U.S economy continues moving ahead ’”quarter after quarter, year after year’” defying dire forecasts and delivering positive growth. In fact, we are about to enter the seventh consecutive year of the Bush boom.
There’s no recession coming. The pessimistas were wrong. It’s not going to happen. At a bare minimum, we are looking at Goldilocks 2.0. (And that’s a minimum). Goldilocks is alive and well. The Bush boom is alive and well. It’s finishing up its sixth consecutive year with more to come. Yes, it’s still the greatest story never told.


In December of 2007, the mortgage crisis was in full swing. The recession itself officially began that very month, according to the National Bureau of Economic Research. By the time it was over it would be the most severe financial crisis since the Great Depression; multiple of the nation's largest financial firms and other industry titans would require bailouts by the federal government, to say nothing of the effect on small businesses, storefronts, workers, retirees and nearly everyone else.

Not only did Larry Kudlow insist it was not happening, as it did, he wrote columns mocking those that considered the economy less than robust.

Earlier today, a doom and gloom economic forecast from Macro Economic Advisors was released predicting zero percent growth in the fourth quarter. This report is off by at least two percentage points. These guys are going to wind up with egg on their faces.

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TomCADem Aug 2018 OP
TomCADem Aug 2018 #1
sandensea Aug 2018 #2
LineLineReply The genius Larry Kudlow during the 2007 financial catastrophe: 'There's no recession coming.'
TomCADem Aug 2018 #5
sandensea Aug 2018 #7
beachbum bob Aug 2018 #3
SWBTATTReg Aug 2018 #4
pazzyanne Aug 2018 #11
SWBTATTReg Aug 2018 #20
Doodley Aug 2018 #6
TomCADem Aug 2018 #8
kimbutgar Aug 2018 #9
at140 Aug 2018 #10
riversedge Aug 2018 #14
paleotn Aug 2018 #17
at140 Aug 2018 #24
marble falls Aug 2018 #12
roamer65 Aug 2018 #13
Astraea Aug 2018 #15
paleotn Aug 2018 #16
zentrum Aug 2018 #18
TomCADem Aug 2018 #22
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