Jun 2, 2017|
Larry Kudlow (CNBC, Paris Climate Deal) by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
And. As promised we have Larry Kudlow he's a senior contributor from CNBC's. On the line with us right now. Larry thank you for joining us today. I can appreciate very much Larry big question that everyone wants to what I have answered today grating at this jobs report what's what's your thought on when you look at. Well. You know it's that kind of it's that soft report in relation to expectations. Actually the revisions were. Now not go what 66000. Lord have tried to bunt in. I did 38000 does not that made it at it this softer than expected report. I'll pick at the catastrophic report I don't think that the recession report. There's probably slowdown going on in the jobs act and that's what it. Looking at the overall employment picture right now how close do you think we are to that mythical full employment how many more people are out there. That are actually qualified and able to get jobs. Well it out of there there there wage. It's hard and hope because of the studies have been done on. But I think is at least ten million people out there and it may be hired now. People think it is there's Lola I've received a million. Other people think it was quiet that ignited and which talking about here. Is related to various federal anti poverty program so called small pilot. Which by the way are. Intended to be reformed again like Bill Clinton on welfare as then comes budget but you've got a lot of people. Who would rather not work it work and there is that the main reason for that is. The subsidies that becomes a substantial. An after tax basis. Headed up. You're better off now work. And people are economic creatures so they understand that Obama care about it perfect example your data but Lauren. Whenever point thousand dollars is so fun to. My illusion that. And he didn't mind happy uncle for help here or you're bored you know let health care. Lower health care and food stamps welfare related stuff. Disability insurance. And we lost the work Armand who lost their ability we've lost. Mandatory. Work searches job search so what. So what is that agency you've got a fairly large pool waiver could be in you know moving from welfare to work there. That won't happen until the system is reformed. I don't agree that weren't full employment I don't agree. Employment ratios are not show it on climate where we're at this participation rate and not showing on one. So I think we could conceivably have always been. Into agreed it would probably about seven to ten million away from Montana getting to that point. Let's talk a little bit about the what we saw yesterday with Donald Trump whom the US out of the Paris. Climate change accord. Can you talk a little bit about how this will impact US business the next several years. Well look I approve of what president erupted and I have felt you know for many years. The bit about Obama administration had been waging a war. Bob biofuels bad but. And that sort of reached its APEC. With this Paris climate. Accord. That was done late in his administration which by the way it was never ratified that. And that's too bad that you know could it could have been shifted or changed your. Amended at the red. But. I think what trop is saying is the war against fossil fuels is so he is not opposed to were noble heated say that he didn't say he doesn't think. There's climate change issues ever let that. What he's saying is. Why penalize United States with a healthy fracking industry for natural gas or why not give the cold reduces the chance. To generate clean coal. Why put a lot of business. Why put auto work. And a lot of these targets I know there you know loose target they're not hard targets. But there has been the United States to subsidize other countries they're asking not to take some kind of target action. Doesn't it doesn't wash it we. I just think in general let you know let the market decide. If the market one solar. If the market wants to win that's fine by with me. The other hand if the market believes. That that carbon emissions are coming down. Particularly with natural gas which is later burning obviously that oil or call. Let the market decide where the capitals Bennett go for investment. What you don't want. Is to destroy fossil fuels. Which had a horrible hole odds Artie can't help. I don't go Bobble wait too far with the various EPA regulations. And the Clean Air Act so called wait you are I think chop as saying that to. So I approve I think it's good for economic growth I'm not surprised stock market it well yesterday. Are good Larry thank you for the time today and enjoy the weekend all right. You bet. Larry Kudlow senior contributor from CNBC also author of JFK in the Reagan revolution.