Gary Cohn at least represented the dominant positions of Goldman Sachs, allowing Trump to ignore all advice, but claim he had the support of Wall Street. His usefulness to Trump apparently was to cover Trump’s inability to condemn nazis.
However, if 45* puts Navarro in as the main economic advisor, he will have someone academic with an actual economics degree, but the same one invested in a Chinese trade war.
We know Lord Dampnut mistrusts people with actual intelligence so...
More likely he’ll put in Larry Kudlow, someone with monumentally ass-backward ideas and initially floated for that position among others, and get someone who has the same media-savy as Giant Mango, but without even an economics degree.
Then again there are a host of possible idiots from the supply-side backwater… Arthur Laffer would be the best, since his botox seems as good as Berlusconi’s.
Trump said in a tweet on Tuesday night that he “will be making a decision soon” on replacing Cohn. Administration officials said Peter Navarro, director of the White House National Trade Council, and conservative commentator Larry Kudlow were the “top two candidates” for the job.
Last week, Cohn told White House chief of staff John Kelly that if Trump launched a full-scale trade war, he would have to quit. The threat did not stop Trump from announcing the tariffs. And so far Cohn has not been able to slow down the president’s march toward enacting the levies. The president reiterated Tuesday during the joint news conference that he wanted the tariffs and didn’t fear a trade war.
One main question now is how markets will respond to Cohn’s departure. Dow futures tumbled Tuesday evening as traders digested the news.