Word: kudlow
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Cramer is markets commentator for TheStreet.com and co-host of CNBC's Kudlow & Cramer...
American analysts further point out that foreign direct investment at least does not wash in and out with the economic tides; once turned into bricks, mortar and machinery, it stays put. Portfolio--that is, stock and bond--investment is more volatile. But Lawrence Kudlow, chief economist of CNBC.com points out that the 37% nose dive in the NASDAQ index from its March 10 high to its May 23 low did not appear to scare away much foreign investment--at least not enough to make any difference in the dollar's price. "I was holding my breath on that one," says...
This logic turns the new economy philosophy on its head. "This is new," says Lawrence Kudlow, chief economist at Schroder & Co. "No government official has previously argued that rising productivity causes inflation and therefore should be reduced." Most economists fervently believe that rising productivity, led by advances in computers and software, is an inflation killer and that there is no such thing as too much productivity growth...