CNBC Larry Kudlow: we can be "grateful" that human toll is worse than the disaster's economic cost

[one...two...tree 2,762]

Larry Kudlow has a unique way of looking on the bright side. On CNBC this week, the "renowned free market, supply-side economist" and host of "The Kudlow Report" noted, regarding the robustness of the markets in the wake of the devastating Japanese earthquake and tsunami, that "The human toll here looks to be much worse than the economic toll, and we can be grateful for that." He then added the caveat that "The human toll is a tragedy; we all know that," before his co-host added a line about what's "good news for the US economies."

Kudlow, who came under swift fire for the remark, quickly issued a Twitter mea culpa, saying, "I did not mean to say human toll in Japan less important than economic toll. Talking about markets. I flubbed the line. Sincere apology." It may have been simple case of misspeaking off the cuff. But for Kudlow, a well-compensated talking head for whom the usual rules of being correct or appropriate don't seem to apply, flubs seem to be a specialty.

http://www.salon.com...thquake_tragedy

[Trumplestiltskin 5,791]

Honestly, should anyone really care about this?

[JohnSmith2007 353]

Honestly, should anyone really care about this?

This is the reason Steven cares:

the "renowned free market, supply-side economist"

If Krugman had said this I doubt if Steven would have posted it.

[^_^ 5,021]

Between the Australian floods (or were they fires?), the New Zealand quake, the Japanese quake/tsunami and the tsunami damage in California, there is now no chance at all of any incentive compensation for us next year. No more paydays till 2013 at the earliest. Sucks.

[JohnSmith2007 353]

Between the Australian floods (or were they fires?), the New Zealand quake, the Japanese quake/tsunami and the tsunami damage in California, there is now no chance at all of any incentive compensation for us next year. No more paydays till 2013 at the earliest. Sucks.

It has been a very bad couple of years.

[^_^ 5,021]

It has been a very bad couple of years.

This is going to be our first bad year. My employer has made record profits since 2006.

[Peikko 1,575]

Between the Australian floods (or were they fires?), the New Zealand quake, the Japanese quake/tsunami and the tsunami damage in California, there is now no chance at all of any incentive compensation for us next year. No more paydays till 2013 at the earliest. Sucks.

Both. Japan's disaster is going to be the most costly insurance claim in history. Sucks when natural disasters strike rich countries.

[_Simpson_ 250]

Both. Japan's disaster is going to be the most costly insurance claim in history. Sucks when natural disasters strike rich countries.

Rich or do you mean first world countries. They have been in a recession for some time now.

Edited March 15, 2011 by _Simpson_

[Peikko 1,575]

Rich or do you mean first world countries. They have been in a recession for some time now.

Your question doesn't make any sense.

[Mr. Big Dog 10,747]

Between the Australian floods (or were they fires?), the New Zealand quake, the Japanese quake/tsunami and the tsunami damage in California, there is now no chance at all of any incentive compensation for us next year. No more paydays till 2013 at the earliest. Sucks.

Hurricane season is just around the corner, too.

[^_^ 5,021]

Hurricane season is just around the corner, too.

At this point, it doesn't even matter. March 2012 bonuses are already at 0 I suspect. Going forward, they tap reserves.

[_Simpson_ 250]

Your question doesn't make any sense.

Well your comment "it sucks when this happens to rich countries" gave the impression that they could afford it. They have been in a recession for some time now.

[mawilson 2,133]

Damn Lisa Kudrow. I'll never watch another episode of Friends ever again.

[Peikko 1,575]

Well your comment "it sucks when this happens to rich countries" gave the impression that they could afford it. They have been in a recession for some time now.

Now I KNOW you didn't understand what I said.

Haiti is as poor as ####, what was destroyed was worth nothing, the rest of the world doesn't lose a damn thing. Japan is a rich country, what was destroyed was worth billions, it sucks because those billions are underwritten by insurance companies that are global, these companies will want their money back, and more. It does suck.

[^_^ 5,021]

Now I KNOW you didn't understand what I said.

Haiti is as poor as ####, what was destroyed was worth nothing, the rest of the world doesn't lose a damn thing. Japan is a rich country, what was destroyed was worth billions, it sucks because those billions are underwritten by insurance companies that are global, these companies will want their money back, and more. It does suck.

True, a few wildfires in wealthy parts of the American SW cause more downward movement in insurance stocks than the entire island of Haiti being obliterated does.