by Larry Kudlow
(Provided by Peggy with our thanks) This past week I gave a speech to a group of investors. The organizer of the event e-mailed me the night before, asking that I please try to be optimistic. Well, that’s my usual habitat. But optimism has been hard for me this year. Our muddle-through economy and lackluster stock market, challenged by so many taxing, spending, and regulating problems coming out of Washington, are the reasons why. In fact, until recently, I’ve been advising people to take profits in the stock market, rather than buy-and-hold. You should keep your money before the Obama IRS takes it from you. But following the tea-
party primary victories in Delaware, New York, and New Hampshire this week, I’m once again getting energized. Free-market capitalism is on the comeback trail. That’s one of the key tea-party messages. And make no mistake about it: The free-market power of the tea-party political revolt is totally bullish for stocks and the economy. In short, this is a revolution.
The political elites in both parties don’t get it. Nor do the mainstream media. But the tea-party movement is stopping Obamanomics dead in its tracks. And it will overturn the Keynesian big-government planning effort now in full force in our nation’s capital. The tea parties are Reaganism reincarnate, and then some. It’s all there in the Contract from America: Limited government, individual liberty, economic freedom. Defund Obamacare. No tax-and-nationalize energy scheme. Stop the tax hikes and move to a flat-tax system. No special favors and subsidies. No crony capitalism. Oh, and let me underscore the tea-party revolt against runaway government spending and debt-creation. No TARP. No stimulus. No Obamacare. No Bailout Nation for GM, Fannie, Freddie, and AIG. Instead of federal spending running up to 25, 26, or 27 percent of GDP, look for our new tea-party representatives to move it back to 20 percent of the economy, or even less.
There’s a great story in Friday’s Wall Street Journal called “Tea Party’s Rise Gives Business Pause.” The thrust is that big businesses and their K Street lobbyists are worried that special tax breaks and subsidies for Wall Street, timber, fast food, road building, energy, farming, autos (such as cash for clunkers for the car lobby), and housing (including homebuyer tax credits for the realtor and homebuilder lobbies) will be blown away by the new tea-party representatives. Well, they should be worried. Quoted in the article, Raul Labrador, the tea-party-backed House candidate from Idaho, says he opposes all government programs that help one segment of business over another. “I’m against all of them,” he tells the Journal. “I don’t think the government should be picking winners and losers. We should have taxes low for everybody, and not just for a particular industry or segment.” In other words, this is not going to be your father’s Congress. Nor is it going to be your father’s Republican party.
The party of George W. Bush and George H. W. Bush is about to be totally transformed. Constitutional spending limits. Low flat-tax rates. Slam-downs on budget baselines. Pitchforks maybe, but not pork. A few months ago I wrote about the emergence of a new free-market nucleus, motivated by tea-party ideals, in the Republican caucus of the Senate. That nucleus is set to grow. And that’s exactly why I’m getting more optimistic. The new blood includes Carly Fiorina from California, Ken Buck from Colorado, Pat Toomey from Pennsylvania, Rand Paul from Kentucky, John Boozman from Arkansas, Mike Lee from Utah, Marco Rubio from Florida, Joe Miller from Alaska, Kelly Ayotte from New Hampshire, John Raese from West Virginia, and Linda McMahon from Connecticut. And who knows, maybe even Christine O’Donnell from Delaware. They will join free-market Senate stalwarts like Jim DeMint, Tom Coburn, John Thune, Jon Kyl, Richard Shelby, and Jeff Sessions. Again, I repeat, this will not be your father’s Republican Senate. This is a new transformational breed. This is a free-market revolution powered by the tea party. Along with a likely Republican takeover in the House, we could be looking at a free-market Congress, something I never dreamed possible. The new tea-party breed in Washington will unleash entrepreneurship and capitalism by holding back the government tide. In other words, folks, tea-party economics are very bullish
This comes to us via the Telegraph, across the pond:
Tea Party insurgents prepare to seize power in 2012 Telegraph (UK)
This is hilarious.
Free Market capitalism?
The original tea party was a revolt against the incestuous relationship between a multinational corporation and the government. Had King George believed in free markets, the US may never have been born!
Now we have Multinational corporations pulling the string; calling it a TEA party and saying they want change.
EXCEPT, you can’t have a revolution by enlisting the aid of the people you need to be revolting against. I am trying to imagine Washington and the guys calling the King and asking for help. Yet, this is exactly what you TEAbaggerz think will happen!
Those original brave patriots were upset with taxation without representation. They thought that was tyranny!
Nowadays, people who don’t have a clue about patriotism–yet have no problem calling themselves patriots–want to tax students in Chico and deny them representation!
The TEA party is a good first place for people who are fed up with government to look for answers. Fortunately for freedom and liberty, when they get there, MOST people find the TEAbaggerz are whack.
Thank God!
Actually Quentin most people don’t find the Tea Party people are “whack.” In fact the polls show just the opposite.
Here’s an interesting poll: Tea Party supporters are wealthier and more well-educated than the general public, and are no more or less afraid of falling into a lower socioeconomic class, according to the latest New York Times/CBS News poll.
If you are smarter than the average bear then you’re likely to have more life successes than the average bear, i.e., be wealthier…that makes sense. It’s not about being rich, it’s about being smart and thats why so many smart people belong to the Tea Party movement. The Tea Party appeals to smart people because they understand what the Tea Party is all about, the ankle biters don’t and that’s why they are so critical and fearful of them. They (leftists) put out a lot of false rhetoric aimed at destroying the decent and highly intellectual Tea Party, just like the commies did in China and in Cambodia during their leftist purges.
Nothing that I have ever read from any credible source has made a connection between multinational corporations and the Tea Party. I don’t understand where this is coming from, but it is whack.
Q: Those original brave patriots were upset with taxation without representation. They thought that was tyranny!
Nowadays, people who don’t have a clue about patriotism–yet have no problem calling themselves patriots–want to tax students in Chico and deny them representation!”
BS. Students aren’t being denied a vote. They will, however, need to be responsible enough to get an absentee ballot and or be in town on election day. You do believe they are responsible enough to do that since you obviously believe they are mature enough to vote, right?
“Now we have Multinational corporations pulling the string…”
Quit pussyfooting around with all the elitist bulls**t verbiage and name those “multinational corporations” you rock throwing, bellyaching grump! Show us the evidence so we can discuss it or shut your trap.
Tina…ya sure don’t mince your words! lol
Follow this link to the multinationals, Tina:
http://dailycensored.com/2010/09/16/media-spreads-tea-party-leaders-as-%E2%80%9Canti-establishment%E2%80%9D-myth/
I hope it helps you calm down!
Take a pill or something!
Insults, Tina?
Is that all that is left?
Me? An elitist?
Ha! Ha! Ha!
Students ARE being denied the vote. Even the E-R called you guys liars. Look at all the people who are saying they are signing the petition IN ORDER to deny students the vote. These comments are being collated and indexed.
When these comments are presented in the (inevitable) lawsuit, you Tories will lose.
Chicoans will lose too, because we will have to pay for the suit. We also have to pay for the special election.
That’s what I love about you Baggerz. You never let common sense get in the way of your stated goals!!
You abhor the government wasting money–EXCEPT to advance the fascist goals of the TEA party.
Quentin: “Follow this link to the multinationals…”
Yes, it leads to a New Yorker hit piece with “unnamed sources”.
The Koch brothers are tied to Freedomworks…but Freedomworks is not the Tea Party.
The Koch brothers saw a movement of people with goals that matched their own and chose to help. You got the cart before the horse. Participation…it’s the American way, like it or don’t. Here’s the rebuttle:
http://www.newsmax.com/InsideCover/koch-industries-new-yorker/2010/08/26/id/368519
Your problem is an ideological abhorence to corporate influence or participation. I don’t have a problem with money, corporate or personal, being used to support the TP or any other political group. What I rail against is MORE AND BIGGER GOVERNMENT. Funding sources, like Soros groups, and there are many, are opposed and exposed based on an ideaology that is totally inconsistant with the Constitution. It’s not the money (stupid) it’s what he hopes to achieve with it that I dislike intensely.
We are now experiencing what big government solutions have to offer the American people. Government meddling led to the housing and lending melt down…government solutions caused the debt to skyrocket, government solutions have created not only a sluggish RECOVERY but a long and painful near depression with more misery on the way! Hell yes I fight against those like Soros who think big governemnt works and Hell yes I welcome financial support from companies that have been harmed as I have due to unreasonable taxation, regulation and interference from government.
Americans need jobs…companies can make that happen but not if they are being strangled by their government.
“Students ARE being denied the vote.”
Bologna…they might have to work a little harder to vote…on the other hand, it might be easier for them…if they vote absentee they won’t have to drag themselves out of bed and remember to vote after an all nighter.
“Even the E-R called you guys liars.”
Do tell!
“Look at all the people who are saying they are signing the petition IN ORDER to deny students the vote. These comments are being collated and indexed.”
Like the SS!
“Chicoans will lose too, because we will have to pay for the suit. We also have to pay for the special election.”
I thought one of the resons for this change was to avoid paying for two seperate elections. The lawsuit would be frivilous; you’re right, a terrible waste of taxpayer money.
Jack…I spent most of my life as a mild mannered peace maker, can you believe it…LOL!
We don’t have a lot of space left to be mild mannered or to mince words now. The issues, and our very survival, have become too pressing and they are much too important.
“Bologna…they might have to work a little harder to vote…on the other hand, it might be easier for them…if they vote absentee they won’t have to drag themselves out of bed and remember to vote after an all nighter.”
As someone who does not like to be colored by Quintin broad brush, you seem to have no problem with your own sprayer . . .
Furthermore, how is bigger government against the government’s constitution?
Tina, you’re so right, time is short. We have to be as direct and blunt as possible. This country doesn’t have a lot of time left to right some critical nation destroying wrongs.
Dear Tina and Jack, Thank you so much for the time and effort you put in to hosting this blog. The information you provide is immeasurable. Providing a platform for conservatives and liberals to exchange ideas and viewpoints helps to clarify my own political standing and personal beliefs.
Quentins writing used to upset me, but now I enjoy reading them to validate his and other extreme leftist radical views. Their constant belittling and attacking anyone with opposing view points only confirms their elitist attitude. I was raised by a master sergeant father to respect all individuals, be they young, old, purple or green. He and my mom constantly said, People and things are not better or worse, theyre just different and different is ok.
Living in two foreign countries and several states in the US taught me the beauty of people who are different and the wonderful things I could learn from them. But it also exposed me to bigots and individuals who were intolerant of anything or anyone new or different. Being shunned because Id just changed schools again for the 10th time in nine years hurt, but finding a true friend who welcomed me with open arms gave me memories of wonderful.
Now, here I am in Chico where I once again have been welcomed with open arms and because of your blog can see the political views, the history of issues and supporting beliefs of contributing individuals. Without this blog I would not be able to make an informed decision, as I said in my earlier submitting to give it the smell test, and for that I sincerely thank you.
I know now who I will vote for on city council and more important who I will not vote for.
As usual, Tina, you have attacked the source but not the facts. Typical. response for you.
Can you “refudiate” the facts? Of course not. and this is why we get these long-winded “answers!”
Instead of spending your time figuring out how to bloviate, and bury your opponents with BS, why don’t you just do the tiniest amount of research? Are you afraid of the truth? Are you scared of what you will find when you do your OWN thinking? This is why many people do not bother to think. Is this why you cut and paste? Because insight is too painful?
Study the fascists in Italy in the early part of the last century. Their tactics are the same as the tactics of the TEAbaggerz–and YOU.
I know, I know. You can’t see it.
Try looking.
You sit like a petulant child in the back of the classroom. You refuse to believe what you are being told, yet you cling to “facts” that cannot be proven.
You ignore the obvious and ask ridiculous questions like, “I thought one of the resons (sic) for this change was to avoid paying for two seperate (sic) elections. The lawsuit would be frivilous (sic); you’re right, a terrible waste of taxpayer money.” Please tell us all about the two separate elections we currently hold for city council!
Peggy, that is one of the nicest compliments we’ve ever received, a most humble thank you. I’m really touched by that. You’re the reason we’re here. Jack
This is typical.
If I disagree with you, I must be a leftist. there simply CAN’T be a third option!
So then, Jefferson, Adams, Madison, et al were leftists? Of course not. You just have not educated yourself enough to find out all the facts.
I have never mocked anyone for holding a different point of view. I will mock hypocrites who do not think for themselves, and refuse to find out all the facts.
Quentin: “Can you “refudiate” the facts?”
The facts don’t need refutiating. Multinational corporations” did not start the Tea Party and they did not source the tea party. They certainly have a right to spend their money to support the tea party if that is what they wish to do. If you have a specific evil about the Koch’s that you would like to reveal then do it! From my perspective your BIG news is no news.
“Are you afraid of the truth?”
What truth?
“Are you scared of what you will find when you do your OWN thinking?”
I suppose you sit in a jar in the closet and pretend you have original thoughts? Don’t make me laugh! You have offered little here except mindless nonesense about an unachievable nirvana of perfect human beings all made in your image.
“Study the fascists in Italy in the early part of the last century. Their tactics are the same as the tactics of the TEAbaggerz–and YOU.”
What tactics? Get off that lofty pedistal and say what you mean, man!
“You refuse to believe what you are being told, yet you cling to “facts” that cannot be proven.”
What facts? You get to be specific if you are going to be my accuser!
I get it Quentin. You think multinational corporations are running the world (our governemnt through both parties) and damaging your utopian dreams. If that isn’t what you mean then you have been a very poor communicator. Try again.
Ahhh…could it be our Quentin is guilty of spouting things he has heard in the media?
Bill Clinton said the following over the weekend:
Clinton has polished his delivery and that makes his remarks palatable while Q is often offish, insulting, and off the mark.
The Counter-Revolution Has Begun
Yes it has…thanks Pie, feel free to comment here anytime.