Some notable quotes from last night's Kudlow & Company:

Farrell’s Pearls of Wisdom: The market can stay irrational far longer than you and I can stay solvent.

If somebody stood up and said, we must defend the dollar, stop cutting interest rates -- [then] the dollar rallies, oil comes down, and the market takes on another leg.

-Vince Farrell, managing director at Scotsman Capital Management

Rescuing the U.S. Peso The key for the dollar going forward is we’ve got to get the Fed to stop cutting rates. That’s the first thing. And then we need the [European Central Bank] to just cool it with all this ridiculous, hawkish talk. They need to either let the currency go, let it strengthen to 170, and then raise rates. Or shut up and not raise rates, and just let [the euro] relax a little bit.

-Andy Busch, global FX strategist at BMO Capital Markets

Rising Food Prices I just spent several days with farmers in the Midwest. The biggest cost for them? The reason food prices are rising? Diesel costs. These energy costs are skyrocketing. [When] farmers’ prices go up, prices go up at the store.

-Kevin Kerr, president of Kerrtrade.com and editor of MarketWatch's Global Resources

Beware the Taxman I talked to two of my clients yesterday. These are top-drawer clients, seven-, eight-figure accounts. And they were both saying, look, if Barack Obama or Hillary look like they’re going to get elected, we need to be selling. We need to be ahead of everybody else selling in anticipation of a capital gains [tax hike].

-Jim Lacamp, portfolio manager at RBC Dain Rauscher

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