I have called Larry Kudlow an advocate of central planning for the few: a conbination of an economic fascist and economic Communist. I have admitted this is hyperbole, but only if you start talking about the political repression of fascism and Commmunism. Otherwise, it is prettymuch spot on, and applies to essentially all of CNBC. First, we have to define our terms.
Economic fascism has been called "socialism with a capitalist veneer". I define it this way: A central planning "partnership" between the financial/big business community and government, which combine to centrally plan and control the economy. Now most "definitions" of fascism use the word "authoritarian", which is where the hyperbole come in. Part of the confusion here is between "Hitlerism", whichis indistinguishable from Stalinnism", and the theoretical ideology of fascism. Yes, there was/is such an ideology, and Kudlow is very close to advocatint it. In fact, we are very close to adopting it as the economic philosophy of this country. Now you do have to realize that central planning inevitably lends itself to an "authoritarian" system. What is is about the term "CENTRAL planning" you do not understand? Moreover, the defects of central planning are the same in a nominal democracy as they are in an authoritarian political system. None of this changes the fact that the heart of the concept of economic fascism is that central planning "partnership" between the financial/big business "community" and government (the dominant partner). This central concept of economic fascism is exactly what Larry Kudlow is advocating, and it is hardly any stretch at all to call him an "economic fascist".
Communis (with a capital "C") is central planning which mainlty benefits the favored few--the "Party" bigwigs and their favorites. Orwell todl you all you need to know about this system in "Animal Farm". Orwell, of course, also exposed the natural result of this system (Stalin) in "1984". Again, Kudlow fits within this definition. Kudlow is advocating central planning for the benefit of Wall Street and his big business buddies. I know. The definition does not fit as well as that of economic fascism, but Kudlow still almost fits the definition. That is because there is little difference, in the end, between econmic fascism and the economics of Communism. It is like instead of overthrowing and kiling the czar, the Communists had gone into parnership with the economic bigwigs around the czar. That is not really different than "Animal Farm", where the "revolutionaires" become the "fat cats" they overthrow. You just eliminate the middle man, and form an immediate partnership with the "fat cats". You welcome them into the "Party" immediately
Therefore, I will continue to call Kudlow, and almost all of the people at CNBC, fascists/Communists (in an economic sense). That is what they are. You doubt me? Don't ever do that.
What was Kudlow's theme on Friday? Well, his theme all of the time is how the government has to partner with Wall Street/big business to bring "liquidity" to the system. Kudlow has an obsession witht he LIBOR (interbank lending rate). I have accurately told you before that anyone who even mentions "LIBOR" (or LIBR) should be SHOT. That definitely applies to Kudlow. The world would be a better place. Kudlow advocates the most outrageous central planning fascism in the name of "liquidity".
On Friday, Kudlow was taking seriously the proposal (big business/Wall Street/CNBC fascist/Communist proposal) that we establish a "national bank" to purchase all of those "toxic assets" ruining "liquidity"--using up to TWO TRILLION DOLLARS of taxpayer money.
Your jaw probably dropped here. Say what? Was this not the original Paulson bailout proposal debated in Congress (in that utter farce that cost John McCain the Presidency: McCain, please, just go away!!!). Yep. that is exactly it. Paulson wanted a blank check for $700 billion dollars, which he supposedly desperately needed to buy up "toxix" assets to "save" us.
You will remember that Paulson (the worst failure in the entire history of world finance, and supported by fascist Kudlow, who also was invied to dinner with President Obama) never spent a dime of the money to buy toxic assets--admitting that Paulson had no clue as to what to actually do, Central planning anyone? Instead, Paulson and Bush lurched directly into socialist government partnership with banks, Wall Street, and big business--to Kudlow's fascist approval. Kudlow also approved the fascist partnership by which the Fed guaranteed commercial paper (of the favored few) and interbank loans. None of it really helped did it?
So now Kudlow and CNBC, in addition to many other fascist/Communist measures they are advocating, are back to the same proposal--at a higher price tag--that Paulson decided WOULD NOT WORK (especially, one thinks, after Congress finished putting conditions on the proposals that further guarantted its failure).
I stand behnid what I have said. Larry Kudlow, and most other people on CNBC and in the Wall Street/financial/big business "community", have become economic fascists/Communists. I dare you to show me where I am wrong!!!!!! Ever since I first used the term "Wall Street Communists" (referring not to "Commuinsts on Wall Street, but to almost all Wall Street people becoming economic Communists), I have been proven more and more right. I first used the term way back in Octobre. The only change I have found necessary is to add the word "fasicst", to more accurately describe the unholy, central planning "partnership" of government and Wall Street/financial institutions/big business that has occurred, and is occuring.