For the biggest jerk on CNBC today, I have to go with Larry Kudlow for his mindless response to the possibility that the Obama administration might consider enforcing our nation's antitrust laws for the first time in thirty years. Kudlow went on a rant in a conversation with CNBC political analyst John Harwood. "I've got to ask you: front page, Wall Street Journal, a new antitrust jihad against businesses. Look its businesses that create jobs. I assume all the smart people in the White House know that. Phone companies, drug companies, Google, airlines, multinational firms, plus a hike in the minimum wage. John, without business, you can't have a new job. Why are they waging jihads against business?"
Not surprisingly, Kudlow was speechless when Harwood calmly explained the logic behind antitrust enforcement. "I think their argument Larry is that moving on antitrust issues creates competition which in the long run will reduce costs even if its uncomfortable for those existing businesses." Co-host Melissa Francis also seemed to be amazed by Harwood's response. "John, I loved your answer on the fly there."
Later in the day, Michelle Cabruso-Cabrera was similarly taken aback when Harold Feld pointed out that fostering competition by enforcing antitrust laws might help the economy. "Christine Varney [of the Department of Justice Antitrust Division] said it best: 'antitrust is the best stimulus. If you want to see venture capitalists putting money in the market. If you want to create jobs. You've got to give new entrants a chance. For that, you need strong antitrust.'" "Wow!" responded Cabruso-Cabrera, "I'm very impressed Harold. We're going to have to have you back."
What frustrates me most about so many of the idiots on CNBC is that they don't think they need to have any command of the issues. All they figure they have to do is repeat their mantra "Government bad, business good. Government bad, business good. Government bad, business good." Given all the problems that have been created by businesses that are "too big to fail," you would think that the notion of enforcing antitrust laws would not be so astounding to the on-air personalities at the leading business network.