On CNBC, Arianna Huffington accused Larry Kudlow of predicting the Dow will hit 50,000. Kudlow denied the charge.
Well, Arianna is right. Here's Larry from October 1999.
In "American Abundance", which was published nearly two years ago, I predicted an over 50,000 Dow. Naturally, we all like to hang out with our friends. I believe my friends and I will be proven right.
Again from August 1999:
Think of the Internet as an economic freedom metaphor for our time. The Internet empowers ordinary people and disempowers government. The Internet creates wealth, expands growth, produces jobs and spreads prosperity. Standing behind the Net is the political power of well over 100 million investors and asset owners.
Because of this, I believe the future economy will outperform all expectations. The stock market will head toward 15,000 in a few years, then 30,000, then 50,000 and higher. Believe it or not, the Internet is more important than the Fed.
Larry's prediction was that Dow 50K will come by 2020.