A recession that will be begin this week and last for at least the next several months seems almost certain now, but it's a great opportunity if you're a rich investor according to Trump's top economic adviser.
Larry Kudlow appeared on Fox Business from outside the White House this morning where he said the crashing market is a great market for rich investors.
KUDLOW: "You see these tremendous [market] corrections like this and for long term investors I think it affords a great opportunity to buy. You're investing in America for the long run. This is given an opportunity with this big correction."
You know, it's okay to say something like this when you're just a cable television pundit, but when you're the nation's top economic adviser I don't think you should be reaching for positives at a time when people are being laid off and their retirement accounts are evaporating.
Kudlow is not necessarily wrong that it's a great opportunity for rich investors. Investors will likely buy a significant bundle of assets this year just as they did during the Great Recession. For the vast majority of Americans, however, that's not an option. Most Americans are currently pondering how to survive the next several months if not the rest of the year.
During his appearance, Kudlow also said the "fundamentals of the economy" are "strong." John McCain said the same thing in 2008.