Larry Kudlow Apologizes For Expressing Relief That The Human Toll In Japan Will Be Worse Than The Economic One
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Larry Kudlow, the great business shill for CNBC, voiced an opinion that really is indicative of how conservatives think about the value of humans and corporations, and how they should be respectively treated.
In these tough economic times, isn’t it nice to know that calamitous natural disasters needn't have an adverse affect on your investment portfolio? After the 8.9-magnitude earthquake in Japan failed to induce a market nosedive, CNBC’s Larry Kudlow expressed his relief in terms that seemed to appall even his fellow cheerleaders for capitalism: “The human toll here,” he declared, “looks to be much worse than the economic toll and we can be grateful for that.”
To Kudlow, nothing matters more than stock market prices. Many people attacked him for this callous view towards human life, but I was not surprised by his statement. I don't believe it was really a flub.
I've watched Kudlow for a long time and his love for free market capitalism far outweighs his love for the well being of the American worker and how they support their families. He later realized he sounded like a ghoul and went into damage-control mode.
I did not mean to say human toll in Japan less important than economic toll. Talking about markets. I flubbed the line. Sincere apology.
I have to say, however, that from what I'm seeing on the financial news, his first instinct was indicative of the reaction of most economic observers. But they are now issuing perfunctory disclaimers before they bemoan the loss of possible new nuclear plants etc.
I'm not saying that I wouldn't flub some statements if I had a day job on the air -- I probably would -- but watching TV Stock Market Barkers over the last six years I haven't seen much that would make me believe the intent of Kudlow's original statement isn't the way he really feels. And let's remember the great piece Jon Stewart did on the horrors of the CNBC team that got much of the business reporting dead wrong leading up to the financial collapse, led by Rick Santelli and Jim Cramer.
Santelli apparently cancelled on him at the behest of his bosses. You remember his Howard Beale rant?
Santelli: President Obama, are you listening?
Stewart: Yeah man, Wall Street is mad as hell! And they're not going to take it anymore. Unless by it, you mean two trillion dollars of their own bail out money. That they will take.
Now Mr. Santelli was invited to come on this show and accepted the invitation and then on Friday canceled, or I guess the phrase would be bailed out.