Larry Kudlow, the anchor of CNBC's prime-time program "The Kudlow Report" has emerged as one of the most outspoken critics of President Obama in the United States. CNBC notes that Kudlow is also host of "The Larry Kudlow Show" and a nationally syndicated columnist. Money News reported on Oct. 5, 2013, "Obama's Selfish Tactics Border on the Unpatriotic, Might Push US Into Recession."
Kudlow states that never before has an American president threatened and risked the U.S. economy and financial markets in the manners which Barack Obama has in recent days. Kudlow points out that as Obama targets the Republicans he said a default would be “the height of irresponsibility.” However, Kudlow wants to know why Obama says any of the Republican ranks are calling for a Treasury debt default. What the GOP disagrees with Obama on is the budget and healthcare.
So, what's really going on? Kudlow suspects Obama and his troops are trying to provoke a massive sell-off in stocks and bonds to further make an issue out of their political position. And any massive sell-off like that would drive the economy into recession. With the U.S markets at the center of the world’s system, this could actually drive the whole global economy back into recession.
What concerns Kudlow are his feelings Obama’s selfish tactics border on being unpatriotic. Obama is seen as risking assets of nearly 100 million Americans who own stocks and bonds by making phony default charges and by essentially threatening a financial and economic catastrophe if he doesn’t get his way on the shutdown and the debt ceiling. This negativism itself could set off a catastrophe in the markets.
Kudlow sees other American presidents among the Republicans and Democrats as having attempted to create a positive legacy for the future instead of trying to pull down the whole system for their own gain. Kudlow may have some important points, so he should immediately realize his candid comments on this matter could also set off a panic and so let's hope he addresses that problem quickly.