Well Done Larry!

Friday evening was the last of The Kudlow Report on CNBC, hosted by Larry Kudlow.

Over the years, I soaked up wisdom from Larry, who previously worked in the Office of Management and Budget in the Reagan administration.

In addition, Larry always presided over spirited, yet civil discussion from both sides, which seems a lost art in recent years. The discussion presented the mindset of each side in a respectful manner, offering learning opportunities for all.

Several of the legions of former guests paid tribute to Larry during this last week, and many are included in the following piece.



In conclusion of the last show, Larry presented a final statement of heartfelt thanks and gratitude, noting how faith, and help from many friends, gave him a second lease on life.



Like many, I will sorely miss The Kudlow Report.

Even from a desk or couch through cable television on CNBC, I have greatly appreciated seeming participation in the discussions over the years. I remember discussing with frequent guest and Kudlow friend Steve Moore what an excellent vehicle in promotion of free markets the program was.

Although Kudlow is not disappearing from the CNBC network, I will most certainly miss the hour I spent with Larry most evenings for the last decade.

Well done Larry!

As always, free market capitalism is the best path to prosperity!

Poll Queston Lacks Adequate Answers

An excellent source of information regarding the mortgage industry is found in The MReport. The MReport, self described as the pulse of the mortgage banking industry, covers the always changing components of the industry, directed by both the public and private sectors.

 

In an effort to grab the pulse of the readership, which is mostly comprised of professionals within the mortgage, appraisal and real estate industries, The MReport presents a poll regarding topics of current interest within the industry.

 

One such poll caught my eye recently, and led me down a road which elevated my blood pressure. Please see the following poll of the week, which asks what the "best course of action for the Congress to take to help improve the housing market." 

 

 

I do not know who writes the polling questions for The MReport; however, I would assume it is a member of their staff of writers, reporters or editors.  In review of the potential answers, one of two observations must be noted:

 

Either those comprised of writing the questions are borderline clueless on economic theory, or they are well familiar with economic theory and seek to nudge the readership into the acceptance that governmental interference, or as they apparently see it, helpful interaction, is a requirement in some form or fashion.

 

I find this troubling to say the least.  For those of us who champion free market capitalism, which would include our Founders I might add, there would be a few answer alternatives which we would respectfully submit.  Submitted for your review are the following:

1. Government should, at the earliest possible opportunity, exit participation in the mortgage industry, and allow the free market to find equilibrium and function in full efficiency.
2. Refrain from extensive regulatory action within the industry, eliminating attempts at engineering social justice through shaking down banks.
3. Retract Dodd-Frank, which has had significant negative affects on the banking industry, curtailing loan ability and strongly reduced the quantity demanded of potential buyers.
4. Retract The Home Value Code of Conduct, an anti free market control mechanism cast over the appraisal industry, which has had a historic ripple effect on negativism on the industry.

There is one thing Congress could do to help the housing market, and Ronald Reagan outlined it in his first inaugural address:  "Is it time to reawaken this industrial giant, to get government back within its means, and to lighten our punitive tax burden. And these will be our first priorities, and on these principles, there will be no compromise."

Immediately, several steps could be taken which give rise to employment and consumer confidence, providing a jolt to the anemic current growth levels.  Among those would be the reduction of the corporate tax rate and regulatory actions, both those employed through legislation and those implemented by executive order.  Retract all governmental interaction within the markets employed in the aftermath of the financial crisis, including the newly formed Consumer Protection Bureau.

Actions deemed supportive of a stronger workforce, the raising of the minimum wage and the new ordering of overtime payment, actually are an impediment to employment and negatively affect the marketplace and should be thwarted immediately.

Of all the ill-conceived actions interjected in the marketplace, with or without legislation, without question the most harmful to economic growth and prosperity is the implementation of Obamacare.  It fails in its publicized objective and is nothing short of a job killer, cutting freedom and prosperity off at the pass.

With such common sense applications at the finger tips of of Congress, it is apparent that the objective is not to provide elements for increasing productivity and prosperity of the governed, but in fact to implement through taxation, legislation and sadly coercion increasing control over those for whom the Congress is charged with governing.

Quoting Reagan again, "I hope we have once again reminded people that man is not free unless government is limited. There's a clear cause and effect here that is as neat and predictable as a law of physics: as government expands, liberty contracts."

Our government lacks adequate leadership at this time, with encroachment of freedom joined by mounting financial and geopolitical problems. Under Obama, government is not only far from limited, but is both legally and illegally seizing power over the citizenry, and predictably, liberty, along with prosperity, is contracting.

Sadly, in a nation drowning in a sea of irrelevance, few recognize the dear gift being taken from them right in front of their eyes.  It should be noted that Reagan was right; "Government is not a solution to our problem; government is the problem."

Loss of A Statesman

Gov. Reubin Askew

In the early morning today, the State of Florida lost a favorite son, and Florida State University lost one of their greatest ambassadors as former governor Reubin Askew passed away.

America lost a great statesman, a group of principled politicians who possess great character that is dwindling in rapid numbers.

Governor Askew, a centrist Democrat, was governor of Florida from 1971 to 1979, a time of significant social change.  By all accounts, Askew was given extraordinary marks for his stewardship of The Sunshine State.

Governor Askew sought the Democratic nomination for president in 1984, with his centrist campaign failing to gather steam against competitors further on the left, including Gary Hart and Walter Mondale.  It seems Askew was more like the man he sought to defeat, Ronald Reagan, than he realized.

Prior to his political life, after a distinguished term in the Army, Askew attended Florida State University in Tallahassee in 1951 with a B. S. degree in Public Administration.  While a student, Askew became student body president at FSU, a precursor to his future life in politics.

Askew loved Florida State University, and the feeling was enthusiastically reciprocated.  Offering courses on government at universities across the state, at Florida State, the Ruebin O'D. Askew School of Public Adminstiration and Policy was named for him.

Through our association with Florida State University, I was blessed to interact with the governor on many occasions, primarily in support of the booster club system.  Governor Askew lead and participated in many breakout sessions, eager to assist each and every one of us in assisting our beloved Florida State University.

In fact, during my tenure as president of The Seminole Club of Greater Orlando in 1999, we were honored to have Governor Askew as our special guest.  It was a wonderful evening, where our club members got to witness first hand what many of us already knew, that Governor Reubin Askew was a wonderful person and among the greatest ambassadors of Florida State University.

 

Governor Askew and I in 1999.

Dean David W. Rasmussen, Dean of The College of Social Sciences and Public Administration and a former professor of mine, posted the following:  "I have very much appreciated the support Governor Askew has shown me throughout my tenure as dean. Courses he taught in the Askew School of Public Administration and Policy shaped generations of future state leaders. Students were excited... and inspired by the governor’s courses because he brought the course material to life from his personal experience and the state leaders he brought in as guest lecturers. The governor was an extraordinary colleague; he will be missed by the faculty and staff of the college."

Godspeed Governor Askew. 

Terror Pings

There has been a tragic event that has taken in place in the loss of Malaysia Airlines Flight 370 early Saturday morning.  Not since events in the Bermuda Triangle or Amelia Earhart has the world of aviation been so dumbfounded about exactly what has occurred.

Expert after expert, and armchair sleuths, have given plausible, and sensible, explanations about what has likely occurred. 

Sounds great, but where is the plane?

 

The plane, a Boeing Airlines 777,  has an exemplary record, and furthermore, planes of this size do not simply disappear.  So while most remain bumfuzzled, appropriately chasing down each and every lead, I formed my opinion quickly, as we posted on the blog Facebook page Saturday night.

Terrorism.

Certainly, I am no aviation expand I have no empirical evidence to back my conclusion; hoping to be proven wrong.  Sad to say, but hopefully the plane crashed in the swallowing jaws of the jungles of Vietnam.

However, the information we do have is mysterious, not easily associated with normal evidence on types of air disasters we have witnessed in the past.  A debris field has not been located, issues with radar have come to light, the transponder was either deliberately turned off or had a new level of malfunction and we have individuals on the plane whose backgrounds warrant further and deeper inquiry.  Cell phones of the passengers have been reported to still be working, which is obviously puzzling.

Among the most conspiratorial theories is the place is in tact, diverted for use at a later date.  Most dangerous in this thought process would be the potential for a nuclear device to be placed on the plane to later become an electro-magnetic pulse weapon.

Obviously, we have yet to collect enough evidence to form an educated opinion on the cause of this tragic event.  However, with the bizarre and wide ranging circumstantial evidence we do possess, it seems clear that the assistance of man was present. 

That man would be a terrorist.  Given that, who paid for planning of and training for the event?  Who is responsible and what message was being sent to whom?

Our government does not seem all that worried about it, but certainly they are.  So am I.

Calling Jack Bauer!

Promoting Prosperity Path

 

Larry Kudlow
Photo Totalpic.com

Last Friday, CNBC announced The Kudlow Report, hosted by Larry Kudlow, will end its run this month after over a decade of producing top notch analysis of the financial markets in its 7PM EST time slot.

CNBC president Mark Hoffman said "Larry expressed his love of the network and personal pride in what had been accomplished on his program over the years but now wanted to slow down just a bit."

I certainly hope Hoffman was being truthful when discussing the end of The Kudlow Report, as Kudlow well deserves the opportunity to exit on his own terms.

Ratings at CNBC have been in freefall, and although shows on all networks discussing financial topics are in decline (have folks just thrown in the towel?), CNBC is on the wrong side of the relative strength in this matter.

The dismal ratings are no fault of Kudlow, whose show and analysis are tops on the network.  There are other outstanding individual hosts and reporters on the network, most notably Joe Kernen, Bill Griffeth and Rick Santelli, so the decline really has nothing to do with the talent on board.

Unlike Hoffman, I know why the decline at CNBC has been deeper.  It comes from what can only be a dictation from the news division of parent company NBC to season the broadcasts with a left leaning agenda mindlessly supportive of President Obama and his agenda, with global climate change a prime example.

Those of us in disagreement with Obama who have been longtime viewers of the network, have grown tired of being relentlessly "nudged" on the progressive agenda.  Each night on The Kudlow Report, we have to get a dose of John Harwood on Capitol Hill, who may win the Obama ass-kisser of the decade award.  His blatantly bias, and incorrect, observations detract from the insightful analysis Kudlow, with guests from both sides, presents.

If indeed Kudlow is being forced out, it will be yet another mistake by CNBC and we can all witness the 7PM time slot ratings continue in decline.  I suspect, if she were so inclined, this would be a golden opportunity for Maria Bartiromo, newly hired away from CNBC by FOX Business Network, to own the time slot from a financial perspective.

Rather than worry about the inside baseball at CNBC, I know that I will really miss joining Kudlow for analysis of the activities of the day, political and financial. As a former associate director of the Office of Management and Budget in the Reagan administration and chief economist at Bear Stearns, Kudlow was very knowledgeable and a true professional all the way around.

If Kudlow was shoved out, I hope to perhaps see him turn up over at The Blaze. If not, I hope Larry enjoys the extra time with his family and hitting balls out on the tennis court. 

Although Kudlow's tenure at CNBC has produced many memorable moments and exchanges, if we remember Larry for one thing, perhaps it will be his spot on mantra that "FREE MARKET CAPITALISM IS THE BEST PATH TO PROSPERITY.

Don't you forget it.  All the best Larry!

“Think and Wonder, Wonder and Think.”

Sarah Palin

Sarah Palin is worth the price of any admission, as few convey the heart and soul of America more than Sarah Barracuda.   Palin strikes fear in all the ruling elite who seek control and aim at restricting freedom over the citizenry, which is why attempts to discredit her are unwavering. 

For someone liberals claim is among the idiots of our day, she sure is correct a lot, slapping around the ruling class with relentless doses of common sense.

This continued in grand fashion over the weekend at CPAC, a conservative convention held annually. Invoking the unrivaled humor of Theodore Geisel, commonly known as Dr. Seuss, Sarah Palin appropriately blasts Obamacare as the tyrannical, top-down, bureaucratic regulatory scheme it is.



There is no John Doe leader of the Tea Party, but if the Tea Party had a leader, it would be Sarah Palin.  Due to inflicted damage to her by the media, she may not be able to become a candidate on the national stage herself, a real shame, but nobody carries more weight with an endorsement than Palin.

And with striking success, her candidates win.

It would be nice if the low information crowd, and those not totally consumed with Obama and his radical partners, took a hard look at the real record of Sarah Plain.  They would find someone who highly values the principles set forth by our founding fathers, which is the blueprint for how our nation should be governed.

Furthermore, they would find someone with an appreciation for the rule of law, noted by her prosecution of those violating the law on both sides of the aisle.  For her, all those charged with governance who violate the law should be prosecuted, not just Democrats.

Don't worry.  The progressive power brokers, and the low information followers who cheer as their own freedom is restricted, will never seek the real truth. If only they could see.

Palin is a major threat to those, on both sides, who seek to take power away from the people, placing it in the hands of a tyrannical, top-down, bureaucracy. Sunshine is the most powerful disinfectant, and Palin shines brightly wherever she goes informing America about those who seek to limit freedom.

Dr. Suess once said “think and wonder, wonder and think.”  Give it some thought.

Cranking Around Redlining

The United States of America, due to orchestrated action from President Obama, is sadly in great decline. 

The weakness exhibited in foreign policy, almost immediately upon his election with his apology tour for American Exceptionalism, has emboldened our enemies and threatened our allies.



Michael Ramirez/Investors.com

The anti-colonialist Obama has done a splendid job in reducing America on the world stage, by design in his planned effort to transform the United States of America, to levels not seen since the Carter administration.

The Obama foreign policy, resembling a sleepwalk through an international relations course, has placed America in a very vulnerable position, culminating with Vladimir Putin and Russia in theory invading the Ukraine.

Obama has issued a red line; however, his ultimatums and threats are laughed upon by our opponents.

The only red lines Obama is successful in drawing is ever so brilliantly exhibited by editorial cartoonist Michael Ramirez of Investors Business Daily.

America had better take notice of this dangerous discrepancy; and quickly.