Kudlow Defends Dollar, Lashes Out Against Fed "Loose Money" Policy
If there is one sure sign of an impending apocalypse, it is listening to Kudlow and agreeing with (at least a few) of the things he is saying. The fact that David Malpass, Peter Navarro, Rick Santelli and the abovementioned are all on the same page, is 100% confirmation that an ELE is headed our way. Rick Santelli nails it as always: "watch what gold is doing because that is a no confidence vote in fiscal and dollar policy." Followed up by several critical observations from Navarro: "If China fixes their exchange rate, it makes it impossible for the trade imbalances to self correct. Isn't it the single greatest threat to free trade we have right now in the world? Ask the Brazilians, the Russians, the Taiwanese: it's killing the world economy because as the dollar goes down it is dragging the yuan with it because of the hard peg to the dollar" and "the world is now going back toward a gold standard." And lastly, this rhetorical pearl from a Dr Jekyll and Mr. Kudlow: it appears the CNBC anchor is a different person before and after 6pm: "When has a nation devalued themselves into prosperity?" We hope Mr. Bernanke will answer this simple query at his next circlejerk peroration.