Kudlow Defends Trump’s ‘False Economy’ Claim, Says We’re ‘Perilously Close to Recession’

Aside from agreeing with Trump, that the Fed is complicit in rigging the economy, Larry offered some solutions–which chiefly include lower taxes for small businesses and lower tax rates to permit a repatriation of more than $2 trillion in cash held overseas by U.S. corporations. He then laid waste to a Clinton advisor, who said the economy was doing just fine.

But Larry seems to not grasp what exactly is underway here, or maybe he does and simply doesn’t say it on air.

The high taxes are the moat of big business, that keeps competition at bay. The limbo world that permits U.S. corporations keep cash overseas, indefinitely, without being taxed is preferred by just about everyone on Wall Street. After all, how much in investment banking fees have Goldman and Morgan Stanley made issuing debt for corporations who want to buy back their own stock? Since their cash is overseas, they’re forced to tap into the debt markets to raise capital.

Apple alone has upwards of $72 billion in debt, all the while more than $200 billion sits collecting dust overseas. This is the stupidest, croniest capitalistic, system in the history of mankind.