Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Kudlow: Obama’s reckless default fear-mongering
CNBC ^ | 4 Oct 2013 | Larry Kudlow

Posted on 10/05/2013 4:24:45 PM PDT by smokingfrog

Never before has an American president threatened and risked the U.S. economy and financial markets the way Barack Obama has in recent days. For his own narrow political ends, Obama and his minions have actually accused the Republican Party of deliberately provoking a Treasury debt default because they don't agree with the president's position on the continuing budget resolution and the debt ceiling.

"As reckless as a government shutdown is ... an economic shutdown that results from default would be dramatically worse," Obama said Thursday. Clearly targeting Republicans, he said a default would be "the height of irresponsibility."

Then, on the same day, Obama's Treasury Department released a brutal statement that said a default would prove catastrophic, causing credit markets to freeze and leading to "a financial crisis and recession that could echo the events of 2008 or worse."

So who exactly in the Republican ranks is calling for a Treasury debt default? Who? The GOP disagrees with Obama on the budget and health care, but no Republicans have ever said they favor defaulting on the nation's debt.

What's going on here?

I have a strong suspicion that Obama and his troops are trying to provoke a massive selloff in stocks and bonds to further their political position. And a selloff like that could conceivably become a self-fulfilling prophecy, driving the economy into recession. Indeed, it could drive the whole global economy back into recession, since U.S markets are the epicenter of the world's system.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Editorial; Government
KEYWORDS: budget; debtceiling; larrykudlow
Navigation: use the links below to view more comments.
first 1-2021-27 next last
Listening to Kudlow on the radio right now. He's really been laying into 0bama!
1 posted on 10/05/2013 4:24:45 PM PDT by smokingfrog
[ Post Reply | Private Reply | View Replies]

To: smokingfrog

It’s Barry’s vicious gambit for winning the 2014 elections. Crash the markets and spend the next year blaming it on the Republicans.


2 posted on 10/05/2013 4:32:54 PM PDT by Sparticus (Tar and feathers for the next dumb@ss Republican that uses the word bipartisanship.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

I heard Kudlow for three hours earlier,10:00am-1:00pm on wabc am770 nyc,he was really on fire today. Really pissed at the dear leader.Concensus is zero will stop short of not paying the interest on the debt,at least Kudlow’s pet Jimmy P. makes that claim.


3 posted on 10/05/2013 4:35:42 PM PDT by rodguy911 (FreeRepublic:Land of the Free because of the Brave--Sarah Palin our secret weapon)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

Another phony scandal.


4 posted on 10/05/2013 4:38:27 PM PDT by SERKIT ("Blazing Saddles" explains it all.......)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

“I have a strong suspicion that Obama and his troops are trying to provoke a massive selloff in stocks and bonds to further their political position.”

“Indeed, it could drive the whole global economy back into recession, since U.S markets are the epicenter of the world’s system.”


If true and if it occurs, what should be the penalty for those that engineered such a catastrophe?


5 posted on 10/05/2013 4:43:30 PM PDT by Gator113 (The mighty Bear ate the cowardly rat. Obama must resign.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

this crew has cried wolf one too often

people just aren’t believing the garbage anymore


6 posted on 10/05/2013 4:47:17 PM PDT by yldstrk (My heroes have always been cowboys)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Gator113

besides we are already in a depression, not a recession


7 posted on 10/05/2013 4:48:15 PM PDT by yldstrk (My heroes have always been cowboys)
[ Post Reply | Private Reply | To 5 | View Replies]


8 posted on 10/05/2013 4:56:51 PM PDT by SunkenCiv (It's no coincidence that some "conservatives" echo the hard left.)
[ Post Reply | Private Reply | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; cardinal4; ColdOne; ...

Thanks smokingfrog.


9 posted on 10/05/2013 4:57:10 PM PDT by SunkenCiv (It's no coincidence that some "conservatives" echo the hard left.)
[ Post Reply | Private Reply | View Replies]

To: smokingfrog

Just today. everyone in my neighborhood got someone else’s mail. Wonder if this is the Post Office joining in the effort to make the shutdown as painful as possible (or maybe they just got a new gov’t drone delivering it).


10 posted on 10/05/2013 5:00:39 PM PDT by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite it's unfashionability)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog
The Zero King is just trying to hide the fact that raising the debt ceiling is actually moredetrimental than not. His propaganda arm media will help him all the way.

Congress can still allocate no more than they did last year and pass resolutions preventing one fund from being used for another.

11 posted on 10/05/2013 5:02:18 PM PDT by jeffc (The U.S. media are our enemy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Some Fat Guy in L.A.

You all got each other’s junk mail? That gives me an idea of how to get rid of it. I’ll put it on the neighbor’s door steps with a note that they delivered it to the wrong address.

I’m going to withdraw some cash on Monday. I wouldn’t be surprised to see a run on the banks.


12 posted on 10/05/2013 5:14:27 PM PDT by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
[ Post Reply | Private Reply | To 10 | View Replies]

To: smokingfrog

Hussein doesn’t know how to do anything else.


13 posted on 10/05/2013 5:15:03 PM PDT by TBP (Obama lies, Granny dies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

He doesn’t care what happens...he is a destroyer and has a mission to fulfill. It is his destiny he - is evil!


14 posted on 10/05/2013 5:30:41 PM PDT by seeker41 (take your country back by whatever means necessary)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog
I have a strong suspicion that Obama and his troops are trying to provoke a massive selloff in stocks and bonds to further their political position. And a selloff like that could conceivably become a self-fulfilling prophecy, driving the economy into recession. Indeed, it could drive the whole global economy back into recession, since U.S markets are the epicenter of the world's system.

Has it occurred to anybody that this result just might be the objective that Obama seeks: the destroy the U.S. economy...utterly?

That it might be no misjudgment, no miscalculation, and instead be Obama's ultimate political objective.

15 posted on 10/05/2013 5:35:42 PM PDT by okie01 (The Mainstream Media: Ignorance On Parade)
[ Post Reply | Private Reply | To 1 | View Replies]

To: smokingfrog

Why the HELL did the United States give a hand-grenade to a monkey?


16 posted on 10/05/2013 5:36:45 PM PDT by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Gator113
what should be the penalty for those that engineered such a catastrophe?

It sure doesn't involve a time-out on the Naughty Step.

17 posted on 10/05/2013 5:37:51 PM PDT by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: okie01

That’s what the Iranians were saying last year. That’s the aim, to collapse the US economy.


18 posted on 10/05/2013 5:51:07 PM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
[ Post Reply | Private Reply | To 15 | View Replies]

To: okie01

Yes. Cloward Piven. Crash the system. It’s been the plan all along.


19 posted on 10/05/2013 5:56:23 PM PDT by Eagles6 (Valley Forge Redux)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Gator113

“If true and if it occurs, what should be the penalty for those that engineered such a catastrophe.”

There was no penalty for those who engineered the 2008 stock market meltdown during the middle of the election. Why would things be different for the next one?


20 posted on 10/05/2013 6:01:59 PM PDT by Soul of the South (Yesterday is gone. Today will be what we make of it.)
[ Post Reply | Private Reply | To 5 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-27 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson