Larry Kudlow Says Nobody Predicted the 2008 Crash; Peter Schiff Did — On Kudlow’s Own Show
Trump economic adviser Larry Kudlow said nobody saw the 2008 crash coming. Of course, Peter Schiff did. And he said so more than once on Larry’s own show.
When the 10-year/2-year Treasury yield curve inverted last week, the mainstream suddenly flipped its narrative. It went from touting the strength of the economy to talking about the possibility of a recession. Of course, Peter has been talking about the looming recession for months. Back in January, he called the recession a “done deal.”
But Kudlow insists the US economy is strong and “there’s no recession on the horizon.” During a recent Meet the Press interview Kudlow reiterated his theme, “Let’s not be afraid of some optimism.”
But Chuck Todd pressed the White House advisor, reminding Kudlow just how wrong he got it in the months leading up to the 2008 Financial Crisis. Todd read a Kudlow quote from December 7, 2007, to drive home the point.
There’s no recession coming. The pessimistas were wrong. It’s not going to happen. … The Bush boom is alive and well. It’s finishing up its sixth consecutive year with more to come.”
Kudlow pleaded guilty to being wrong on that forecast. But he said nobody saw it coming.
I don’t know that anybody saw that kind of crash.”
Kudlow’s memory must be getting hazy. Peter appeared on Kudlow’s show on several occasions dating back at least to June 2006, as this montage of video clips shows.