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Canuck_2
Senior Contributor

How low will they go

Markets around the world are lower this morning.

How low do you think North American markets will go now your key economic adviser has left?

 

http://www.bbc.com/news/world-us-canada-43311581

 

It is the latest in a series of high-profile departures from President Trump's team.

There has been speculation that Mr Cohn, a supporter of free trade, was angered by Mr Trump's plans to impose tariffs on aluminium and steel imports.

 

.........

US media on Cohn's departure

A piece in Bloomberg carries the concerns of Wall St operators that the White House is losing experienced financial experts. Kathy Wylde, who runs the Partnership for New York City, says: "Gary was one that we counted on."

A Washington Post article headlined "Gary Cohn didn't get much done. But it could be worse - and it probably will" says the adviser was an "odd duck" but that it is hard to fault him, given "the Trump administration has been too understaffed and unfocused to get much done".

An editorial in the New York Times says Gary Cohn was "supposed to be among the sensible adults in the room. Now, he is leaving after failing repeatedly to be the stabilising influence that the Trump administration sorely needed".

Bill Powell in Newsweek says there are two things Donald Trump really likes - a rising stock market and tariffs. But one thing the resignation of Gary Cohn makes abundantly clear, he says, is that "you can't have both... the world just doesn't work that way".

3 Replies
hardnox
Advisor

Re: How low will they go

Financial markets are like a beehive- all the surviving bees just know what to do, how to keep extracting a bit-o-honey from it.

 

But every once in a while a bear will come along and stick his paw in there.

 

I'm thinking not quite yet as there's still stuff to be fobbed off on widows and orphans, but sometime in the not too distant future. The crisis is only in its very early stages.

r3020
Senior Advisor

Re: How low will they go

So Trump choose main street over wall street.

bruce MN
Advisor

Some truth to that.

Crazy Bill expands on what you say here:

 

http://www.palmerreport.com/analysis/lashing-ryan-mcconnell/8590/