Kudlow: America Needs a Choice, Not an Echo

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I seem to recall how Larry Kudlow thought the bailout (you know, the first one, the one that Hank assured us was big enough to take care of all our problems) was a fine idea.
So while he is correct that taxation and make-work projects are not going to fix anything, his credibility is a little atrophied these days.

Slipstream of MO 7:53AM January 01, 2009

If the rich drive the economy, the economy shouldn't be in the tank? I would guess that the rich are still rich. Based on the present state of the economy it would appear that your hypothesis is incorrect.
On the other hand, if the poor people had an easier time obtaining money you can rest assured that they will be spending it just to survive. The money would be trickling up to the rich people. I have no doubt that banks would be falling over themselves to make loans to the poorer people who have some money.
The economy is slowing lets give the people with the money some more money to fix the problem.Give me a break. Sounds about as intelligent as global warming.

RH of 8:13PM December 31, 2008

While I agree with the idea that the rich buy most of the big ticket items, getting more funds downstream is also important. I have been in the restaurant industry for 35 years, and our business is very susecptable to economic variations. Your point is well taken that the rich spend money in our businesses, but when you talk about driving the economy, I think, on a percentage basis, the lower classes waste th most money on stupid consumer goods that the rich people's companies are selling. Even the busboys are carrying I-Phones. Middle class? hell-no! I'm to busy paying my mortgage, I really havent bought any new stuff in years... But my bartender just bought a new plasma...So, all I'm pointing out is that the money goes both uphill and down. The middle class is to scared to spend anything right now, so the top and bottom are our only hope. Unless of course the media stops talking about the recession, Because then, in about 2 weeks the short attention spans we have cultivated will have forgotten all about it and the hordes will return to the malls wearing those stupid brightly colored plastic shoes, wasting tons of money on all the junk that our economy is built on.....Hey Pal! What some sneakers with lights in them?

Al Pfeuffer of NJ 11:07AM December 31, 2008