Larry Kudlow’s Irrational Exuberance
1 comment February 23rd, 2009at 09:52pm Posted by Eli
You know, they have pills for that now…
Kudlow last July fantasized about a scenario in which
oil prices will keep on plunging — perhaps all the way to $75 a barrel, which is the profitable break-even point for lifting the extra barrel of oil.
His prediction?
That would drive the Dow to somewhere between 15,000 and 16,000, and it would have a huge tax-cut effect on the economy. And, of course, it could completely change the November election outlook in a highly favorable way for the GOP.
The price of oil today: approximately $39 a barrel. The Dow: 7,114.78.Massive, throbbing fail.
Wait, I know what the problem is: The price of oil went too low! Yeah, that’s the ticket!
I think Kudlow sees everything as a catalyst for stratospheric stock prices. It’s like the financial equivalent of “This can only be good for Republicans.”
Entry Filed under: Economy, Republicans, Wankers
1 Comment Add your own
1. william | February 27th, 2009 at 11:57 am
this guy is a right wing nut
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