The Larry Kudlow Show

The Larry Kudlow Show

United States

Each Saturday, The Larry Kudlow Show provides listeners with the latest on the unemployment rate, congressional budget battles, and how all of this affects their wallets. In this three-hour call-in program, Larry offers insight and expertise to help investors better navigate tomorrow's evolving economic and political terrain. Widely regarded as one of the top economists in the U.S., Larry is also a popular CNBC weekday anchor for The Kudlow Report and The Call.

Episodes

kudlow 6-17-17 Steve Scalise, Nancy Pelosi, & a return to Civility.  

Steve Scalise, Nancy Pelosi, & a return to Civility. 3 Easy Pieces: biz tax cut attached to health reconciliation. If not. no summer (recess) vacation. Trump: no charge on Russian collusion. So how can you obstruct something that doesn't exist. Attack Mueller? Tweets? Leave to defense team? Off front pages, better chance to get growth policy done. Jeff Sessions: 100 ambassadors at Mayflower reception! Sr. Armed Service Comm. Trump rolls back Obama Cuba policy. Policy substance or politics? Hurt Cuban entrepreneurs? Travel, transactions, dollars, human rights. Venezuela? Where else Cuban army in Western Hemisphere? Steve Moore on Father's Day. Fed tightening too fast? Softening econ, inflation, rates, commodities.Real wages have gone nowhere. They need tax cuts to raise real rates. Gary Cohn in charge of Fed chair search. What does he believe? Biz expensing cheaper? 25 year window. 3% growth. CT story a national story? Econ polls for Trump?

kudlow 6-10-17 3 Easy Pieces: GOP must get biz tax cuts attached to health reconciliation to get job done. No summer recess until this happens.  

3 Easy Pieces: GOP must get biz tax cuts attached to health reconciliation to get job done. No summer recess until this happens. Mark Meadows of Freedom Caucus. Make reconciliation a GOP weapon, not an obstacle. Down w/ CBO. Up w/ Mulvaney & Mnuchin. 3% growth budget. Final deal on Repeal & Replace? Trump speeches from Oval Office. Comey hearing didn't live up to its notices. Trump stocks up 2.5%. Trump vindicated on Russia & obstruct justice. Jared Kushner hear about nothing. Only thing Comey didn't leak was Trump not in Russian probe. Trump offers 100% lie detector. Why not let his defense lawyers handle everthing & stay focused on agenda? Stocks too complacent? Political risk? Brexit? Macron? Tax cuts? Why should Fed tighten after June? Inflation down. Commodities & oil. Theresa May Tories clobbered. Brexit? Terror attacks? Squishy policies? Will she be replaced? Minority majority. Money & Politics: Infrastucture. 3 easy pieces. Reconciliation. Overthrow CBO. Drain the swamp.

kudlow 6-3-17 Adieu to Paris. Trump totally right. Would any other GOP prez have done it? Trump most conservative since Reagan. Media endorsements.  

Adieu to Paris. Trump totally right. Would any other GOP prez have done it? Trump most conservative since Reagan. Media endorsements. Econ growth. Climate change models & causes still unknown. Trump concerned about climate, but bad deal. Nuclear power? G-7: no talk of stable money & supply-side policies. Softer jobs v. falling unemployment.Bad but not terrible.Wage income proxy still around 2% real, 4% nominal. Participation rates falling. Is ADP a better? Inflation slowing. Commodities flat. Fed tightenings? Stocks rallied on Paris pullout. Biz investment a bit stronger. Interest rates? Eurozone inflation back below 1%.j Melissa Francis new book: "Lessons from the Prairie." Markets & Trump. Elon Musk, Lloyd Blankfein. ExxonMobil. GE all wanted Paris. Mick Mulvaney: time for CBO has come and gone. POTUS: 51 for all Senate votes; get rid of filibuster. Attach tax cuts to healthcare. BAT tax dead. Aetna leaving CT. 1853. David Tepper leaves NJ. 12% of revenues.

kudlow 5-27-17 Dan Clifton & Mike Solon: Trump's new budget: back to Clinton welfare reform; make it pay to work. There are no cuts. Just slower growth  

Dan Clifton & Mike Solon: Trump's new budget: back to Clinton welfare reform; make it pay to work. There are no cuts. Just slower growth. What about tax cuts? Ryan gives up BAT tax? Senate? Detailed plan from WH? Parental leave? Joe Rago & Hadley Heath Manning: Repeal & Replace: when, what, how? Messaging? Risk pools? Premiums? Keep your doctor? GOP promise to fund poor, ill, pre-conditions? Medicaid? Senate: not 50 votes yet. Brian Kelly & Peter Costa: Stocks: domestic profits falling, so are profit margins. Commodities? Bitcoin? Fed rate hikes? Fed shrinks balance sheet: retire reserves. Flat curve? April capex not good. Gen Jack Keane: Trump changes policies in Mid-East. From Iran to Saudis & Israel. Sunni-Arab-Israel NATO? $100b to Saudis. Iran-Hezbolla-Hamas real enemy. What about campaign to destroy ISIS? NATO not taking terrorism seriously. Moore-Pethokoukis-McIntyre: Money Politics: Lawyers stop Trump tweets? Staff shake-up? War Room? Corey Lewandowsky, Dave Bossie, David Urban. How about econ side? Kushner-Russia?

kudlow 5-20-17 Treasury Sec Steven Mnuchin leads way for pro-growth tax cuts w/ 3% growth paying for them.  

Treasury Sec Steven Mnuchin leads way for pro-growth tax cuts w/ 3% growth paying for them. Reconciliation very flexible? Don't have to use CBO or JTC estimates. Is Admin coming together w/ House/Senate? Timetable? Year end? Banking reform? "Let this go" is not obstruction of justice. Not crime.Mueller's jurisdiction? Narrower than past. Why didn't Comey report memo to DoJ? How long? Advice to Trump? Confusion: what are they investigating? Sr. WH official person of interest. WH leaks! Nut job. Relieved Trump pressure. Stocks: buy the dip because tax cuts are coming? Profits? Econ outlook? Fed? Amazon near 1,000? 250% S&P is bull mkt not just a rally? Dollar-gold-oil? Dr. Rock Positano: "Dinner w/ DiMaggio: Memories of American Hero" Money & Politics: Can US get back to 3% growth? Most econs say no. But capital formation is key. Outlook for health & tax reform? Pence for Prez?

kudlow 5-12-17 All things Trump-Comey. Damage to him & GOP?Damage to growth agenda? Stone advise him? WH shake-up? Esp communications? New FBI? Trump not under investigation?  

All things Trump-Comey. Damage to him & GOP?Damage to growth agenda? Stone advise him? WH shake-up? Esp communications? New FBI? Trump not under investigation? Healthcare bigger problem for tax cuts than Comey? If no tax cuts & growth spurt, GOP crushed in mid-terms? Ryan: we can walk & chew gum at same time. Cornyn: healthcare before yearend. But why did Ryan bungle reconciliation/regs? Payroll tax cut for workers? No wage deduction for employers? Ted Cruz major player in health compromise. Working w/ McConnell. Same working group for taxes? 3% growth baseline? Biz tax cuts lead to capita deepening, productivity & wages. Why have wages flatlined? US- China trade deal very good. Trumps turns around. Negotiation not war. Day the earth was hacked! Stocks: No gold sky-high or stock plunge on Comey. Retail store collapse? CPI & retail sales slowing. Commodities soft (no inflation).

kudlow 5-6-17 Sen Ted Cruz: Senate outlook for healthcare & tax reform. What should be done, what will be done? Can he support?  

Sen Ted Cruz: Senate outlook for healthcare & tax reform. What should be done, what will be done? Can he support? House bill moving in free market direction? Turn back on New Deal like JFK & Ronald Reagan (populist)? States rights, 10th Amendment, federalism: medicaid caps, illness prior conditions risk pools, essential benefits mandate. $900b tax repeal. Reconciliation? Filibusters? Regs? Senate parliamentarian? Opens way for tax reform/biz tax cuts. Growth pay-for? State-local tax deduction? BAT? House Freedom Caucus tax plan? How long for tax cuts? GOP as party of working men & women? Dems elites? Taxes, health, success, biz, border security, refugees, abortion, trade, MAGA, world leadership? Growth/prosperity greatest populist issue? Former Sen. Tom Coburn & Betsy McCaughey on health debate, House bill, Senate priorities. Jobs, econ outlook, Fed rate hikes? Stocks side-ways. Profits strong. But no biz investment. Saintly wife doubled sales 1st 5 months: Trump confidence? Deflation pressures? Apple $1b USA investment? Jimmy P: Hal Varian & capital deepening.

kudlow 4-29-17 Trump's dramatic tax reform announcement caps off solid 1st hundred days.  

Trump's dramatic tax reform announcement caps off solid 1st hundred days. Gorsuch, reg rollback, border & national security. Consumer, biz, small biz, & stocks all up. Trade war fears down: China, NAFTA, 232, dumping wood & steel. Negotiation, not war? 2nd hundred days: taxes, healthcare, infrastructure, border wall, refugee visas, sanctuary cities. Can GOP govern? It looks more optimistic to me. Trump optimism: Think big, dream bigger. Foreign policy surprises: Syria, Russia, N Korea, ISIS. Endgames? Winning? Is senior staff operation coming together? Foreign? Domestic? Econ? Trade? Can GOP govern? What are polls telling us? Democrats 1st hundred days? Tax cut growth pays-for deficits! Mnuchin. Campaign plan won. WAPO & NYT. Wage-earners. Obama people carping on deficits? New Deal failed, it's our turn JFK-Reagan-Trump. Trump must sell it. Growth, jobs, wages. Rallies. Reconciliation whatever you want it to be. Stocks rally on taxes & trade. Earnings up. GDP 2%. Fed?

kudlow 4-22-17  Maria Bartiromo talks about Trump interview and her financial economic outlook.  

Can biz tax cuts pay for themselves? Mnuchin & Cohn say yes to dynamic growth models. So does Art Laffer Comm4Prosperity. Committee for a Responsible Budget says no. Maria Bartiromo talks about Trump interview and her financial economic outlook. Is their a Health Care deal ? Working w/ Senate? Tax Reform this week? CR extension? Gov't shutdown? Dynamic scoring? 3%=$4 tr revenue increase. Cong Dave Bratt. Is bipartisan corporate tax reform possible? Former Obama CEA chair Jason Furman. Flattening yield curve, falling bond rates, lower inflation breakevens, decline retails sales, no biz investment? Profits over exuberant? GO rose in Q4. Trump policies? Why BAT tax is wrong. Corp tax reform. Tax rate incentives matter. Is Trump wrong on trade? Can we make 3% growth? Alan Reynolds birthday week. Start w/ biz tax, then omnibus individual tax. Child tax credits? Infrastructure? What will Trump tax overhaul look like? Throw out campaign plan? 1962 Trade law section 232 national security protectionism? Tampering w/ H-1B visas? Buy America? Reagan or Bush economy?

kudlow 4-15-17  Trump reversals & Trump strengths. Ex-Im (Scott Garrett), Yellen, rates, dollar, tax & health reform, reciprocity, Syria, Russia, no China currency manipulation, easier trade w/ China re N. Korea.  

Easter: We have all found ourselves at the foot of the Cross. Stay a while on Good Friday, before rushing to the great Vigil of Resurrection on Sunday. Stay a while to ponder the awful Crucifixion. He died for our sins. What were/are those sins? What must we do to atone? Fr. Richard John Neuhaus: Death on a Friday Afternoon. Passover supper is Last Supper. Trump reversals & Trump strengths. Ex-Im (Scott Garrett), Yellen, rates, dollar, tax & health reform, reciprocity, Syria, Russia, no China currency manipulation, easier trade w/ China re N. Korea. Trump promises kept: tax, repeal & replace (tho total confusion; NEC-Cohn haven't done their job), pipeline, EPA, border security, refugees. Drain swamp-- overturn establishment elites. Problems gone unfixed for 20 years. Give him a chance. Tax plan scrapped? W/ cheap dollar? Reversal of JFK-Reagan. Drain CBO swamp. Growth is mother of all pay-fors. GOP hardball on reconciliation. Stocks slip. Retail sales fall 2nd straight month. Syria impact? Oil recession over? Profits? Mixed signals. The Benedict Option by Rod Dreher. Bannon down? More centrist Trump?

Kudlow 4-1-17 Want to raise wages? Cut biz tax rates first.  OMB Director Mick Mulvaney on budget, taxes, healthcare.  

Want to raise wages? Cut biz tax rates first. OMB Director Mick Mulvaney on budget, taxes, healthcare. Team Trump not ready for tax reform? Mnuchin v. Cohn? Carbon tax? Gen Jack Keane on Mosul, Raqqa, Sunnis, defense budget. Nothing wrong w/ trade deficit-- flip side of capital inflows. Team Trump never mentions that. Kill border tax before it kills us. BTW, dollar will fall, not rise. Foreign imports subject to US state & local sales taxes. 6.5% average Big states up to 8-10%. Why is POTUS attacking conservative Freedom Caucus? He's gonna need them down the road. Reagan Rising: 1976-1980 wilderness years. Craig Shirley. Are core profits slumping? Problem for stocks? Trump trade faltering?

kudlow 3-25-17 GOP missed great opportunity to repeal & replace OB-Care. Limit gov't. end entitlement. Reagan 70% rule? Get to Senate, then conference, then reconciliation.  

GOP missed great opportunity to repeal & replace OB-Care. Limit gov't. end entitlement. Reagan 70% rule? Get to Senate, then conference, then reconciliation. Plenty of blame to spread around. Ryan never worked w/ Freedom Caucus for changes. Done by Trump-- yeoman's work. How could Ryan not understand reconciliation rules stretched to regs? No one talked to parliamentarian until Sen Mike Lee! Essential benefits? Guaranteed issue for sick. Tax credits? Freedom Caucus could have made Reagan-type deal. Missed opportunity for tax repeal. Especially capgains = 1000-1500 on Dow. Help econ & stocks. Is it dead? Or just a battle to win long war? Ryan revolt? Meadows, Jordan, Blackburn? Shake-up in WH? Has Ryan changed? Supply-side to root canal? But, now tax reform could come 4-5 months earlier. Get rid of BAT. Work reconciliation. Include Freedom Caucus. Corp tax cut helps middle class wage-earners the most. Should have been done first. Retroactive Jan 2017? Stocks worst week since October. Trump worries about tax reform & reg rollback? Worldwide mfging getting better? Profits? !% RGDP Q1? Low revenues & NGDP? Change strategy? Trade protectionism hurts consumers most. Insourcing creates good-paying jobs. Infrastructure? Security: wall, refugees, destroy ISIS. People want peace & prosperity.

kudlow 3-4-17 Trump's speech optimistic & transformational. Civility, bi-partisan, unity. National confidence.  Nick Eberstadt: "Men w/out Work: America's Invisible Crisis." Our miserable 21st century.  

Trump's speech optimistic & transformational. Civility, bi-partisan, unity. National confidence. Nick Eberstadt: "Men w/out Work: America's Invisible Crisis." Our miserable 21st century. David Smick: "There's Plenty of Hope for Tax Reform." As Trump unmuzzles econ, rosy scenario will become econ reality. Mark Krikorian: Kinder, softer Trump immigration policy? Avik Roy: ACA reform a tax cut in reconciliation? Biz tax reform also? Is Medicare really going broke? Refundable tax credits a new entitlement? Trump hasn't yet made decision on BAT. WH battle. So many contradictions. Hi dollar hurts exports. Tax imports w/ consumer price hikes will weaken growth; $1.1 TR pay-for never happen. Why not 3-4% growth? Policies affect productivity & work effort. Yellen signals rate hike. 35%- 90% w/ no new numbers! Commodity price rule. Taylor rule. Non-labor inflation model. Trump rally still booming. Profits rising. Better numbers PMI globally. Tech bubble?

kudlow 2-25-17 What should Trump say to joint session of Congress?  If Trump unmuzzles econ, then rosy scenario will become econ reality. Why didn't econs attack Obama's 4% RGDP.  

What should Trump say to joint session of Congress? If Trump unmuzzles econ, then rosy scenario will become econ reality. Why didn't econs attack Obama's 4% RGDP. Trump must enact biz tax cuts first to trigger growth. OB-Care a tax (Judge Roberts). Put them together in 2017 budget reconciliation. Middle class benefit. Is Boehner correct that GOP has no OB-Care replacement? Medicare not going bust? Mnuchin suggests no collision between Trump & Yellen. Also no quick action on China yuan manipulation & trade. State of border tax? Why is Trump attacking foreign investments in US? Are trade deficits bad? What does economic nationalism mean? Citizens of world? Davos-EU? Multinationals? Trump bull market continues? Are profits flattening again? Bitcoin role?

kudlow 2-11-17 Sen David Perdue (R, Ga) opposed to border adjustment tax (BAT).  Trump new exec order to protect national security w/ refugee moratorium?  

Sen David Perdue (R, Ga) opposed to border adjustment tax (BAT). Trump new exec order to protect national security w/ refugee moratorium? Better relations w/ Japan: Trump/Abe positive press conference. Golf diplomacy at Mara Lago. Trump gets 3 new picks for Fed, w/ 2 more next year. Easy or tight policy? Dollar? KingDollar & tax cuts = growth. New Trump tax reform developed by Gary Cohn. What's it mean? Alan Reynolds: do trade deficits matter? Mexico? China? Down w/ BAT. CEA downgraded out of cabinet. Will there be anyone? Who advises Trump on contradictory macro outlook? Roger Stone: "The Making of the President 2016: How Trump Orchestrated a Revolution." Better profits and Trump tax cuts drive stocks higher.

kudlow 2-4-17 Populism from Trump & Andrew Jackson: what's it mean? Nationalism? Historian HW Brands "The Life and Times of Andrew Jackson."  

Populism from Trump & Andrew Jackson: what's it mean? Nationalism? Historian HW Brands "The Life and Times of Andrew Jackson." SCOTUS Neil Gorsuch: perfect candidate. Against deference to regulatory agencies. Iranian sanctions for illegal ballistic missile tests. Decent jobs report. Fed rate hike? Doubtful. Trump meets biz-CEOs : Tax reform soon. ACA sooner. Clarify refugee terrorist moratorium. Dodd-Frank too. Ways & Means chair Kevin Brady on taxes & ACA & timing. Repeal all ACA tax hikes. 25% dollar rise? Dow 20,000 back. Profits? Trump? Trump & Navarro want cheaper dollar. Blame Germany. Won't affect trade deficits. If Trump growth policies go through, dollar higher & trade gap wider. Huge capital inflows.

kudlow 1-28-17 To speed growth, cut taxes now. Kudlow-Moore WSJ. Bi-partisan? Regular order?  GOP ACA plan: Cong Diane Black, interim House Budget chair. Reconciliation?  

To speed growth, cut taxes now. Kudlow-Moore WSJ. Bi-partisan? Regular order? GOP ACA plan: Cong Diane Black, interim House Budget chair. Reconciliation? War against Mexico? Wall? 20% BAT? Whole thing giving me headache. Mary Anastasia O'Grady. Pena Nieto. Go after China, not Mexico. Eradicate ISIS? Destroy Raqqua? Gen Jack Keane. Great week for Trump. Keeping promises. Big energy. Pipelines, ACA, vetting refugee (only those who support and love America), rebuild armed services, tax reform, dereg. Optimism. Think big, dream bigger. Pro-life rally w/ Pence & Kellyanne. Miami no longer sanctuary city. Catch and deport. Criminal illegals. Chicago?

kudlow1-21-17 Special show devoted to Trump inaugural.   Did speech work?  

Special show devoted to Trump inaugural. Did speech work? Nationalism, globalism. protectionism, populism. Economic growth? Tax reform? Dollar? Civility? Bi-partisanship? JFK-Reagan influence? Attack on both parties in Congress. No reach-out to presidents (small to Obama), though he did praise Hillary at lunch. Good optimism at end. Financial markets response and outlook?

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