Larry “Drill Drill Drill” Kudlow move over, we now have moved to the next step in the “Drill Wars”. Michael Steele last night at the republican convention coined… “Drill Baby Drill!”

All kidding aside, this election is going to be a referendum on the economy and oil. Larry Kudlow coined the “drill drill drill” mantra, and although he has a great show on CNBC, not many people watch him or even know who he is.

In T Boon Pickens latest ad, he says we should “drill drill drill”. I’m sure it’s Kudlow he is quoting, but he then goes off on another point.

Take a look at Steel’s speech. It was very good.

Watching the news last night… the headlines were inflation was up, unemployment was up, house prices are down,  the sky was falling.

Then, I switched to Larry Kudlow’s CNBC show “Kudlow and Company” a half the guests (he always has a ton of guests) were saying it’s just not that bad.

His question was “are we better off today than we were 4 years ago?” It sure doesn’t feel it, I would have said and emphatic no. But lisenting to his guests the stats don’t necessarily agree.

• The Dow is higher than it was 4 years ago
• The median house price is higher than it was 4 years ago
• Unemployment is only slightly higher than it was 4 years ago
• Average household earnings is higher than it was 4 years ago
• and there was more and more… you get the point.

I understand, we are on a downturn (some say recession) from where we were a couple years ago. Gas prices have hit everyone. But, if it wasn’t for the price of oil right now, the whole economy would be looking pretty good.

The take away from this is, you just don’t need to participate in the slow economy. Sure, if you are laid off you are in a different position. If you got one of those teaser mortgages when housing prices were up a couple years ago and your payment just hit the roof, you are in a difficult situation. But for most of us, it’s just not that bad.