Kudlow Bamboozles Over Trump Tariff Inflation
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As a banner declaring “ECONOMY SOARS UNDER PRESIDENT TRUMP,” Fox Business host and former Trump adviser Larry Kudlow tried to con viewers about the economy.
After seemingly mild inflation data was released on Tuesday, Fox wasted no time crowing that their fave Jeffrey Epstein pal is helping the economy.
KUDLOW: Yes, some items are affected by tariffs, and the prices have gone up. Okay? Household furnishing being one, computers being another, but Sean, here’s what fell in this report, and no one’s reporting this. Okay, used cars down, new cars down. Airline fares down. They all fell. Their prices, eggs down, okay, snacks, hotel and motel prices down, milk down, butter down, cereals down.
Hannity claimed that gas prices are down. But Kudlow corrected him that “energy was up a little in this report.”
Here’s what the Trump lickspittles didn’t want to acknowledge: Nobody struggling with higher prices for a new computer or furniture, is going to feel relief from lower airfare or hotel prices. Especially if the cost of driving to work is going up, too. Also, while I’ll take Kudlow’s word that the cost of eggs, butter, milk, cereal and “snacks” are down, prices for coffee and oranges spiked in June.
Joe Brusuelas told CNN that one report, the Producer Price Index, is a “head fake.” That’s because lower wholesale services prices “masked” higher prices on finished goods prices,” he explained. Also, a weaker tourism industry has repercussions in the wider economy. So that’s not great news either.
A Consumer Price Index report, also released on Tuesday, showed inflation rising to its highest level in four months, according to a separate CNN report. Economist Heather Long told CNN, “This feels like inning No. 1, the early stages of what will likely be more and more items showing that price increase.”
Besides all that, Forbes described the current food inflation as “a slow drip” that “feels worse than the numbers show” to most American families.
That’s not counting Trump’s tomato tax, coming via his latest tariffs on Mexico, the country that supplies 70% of fresh tomatoes in the U.S., according to Forbes. Unless Trump chickens out (again), that could lead to a 6-10% price hike, Forbes predicted.
All that’s on top of other ways Americans will have to shell out more for necessities thanks to Trump’s assault on federal services like food benefits, Medicaid, Medicare and how he’s letting our crops rot.
Kudlow, Hannity and Fox know what’s going on. They just want to dupe their viewers.