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In his 58 years on earth, Gary Cohn probably met an idiot here or there. What a classmate in his hometown of Ohio, a wise man on the New York Mercantile Exchange or an employee of Goldman Sachs with which he would meet later, it is unlikely that Cohn was completely inoculated with people of lesser intelligence, or not to let them know exactly what he thought of their st for the brain. But apparently, regardless of the clashes with not-so-bright individuals he had suffered before November 2016, they were nothing compared to the fact that we have never seen an IQ one-digit stupidity levels. He knew by accepting a job with the Trump administration.
According to an excerpt from Bob Woodward Fear, the book released tomorrow that the president called a "joke," a "scam, And onecon on the public"Written by a" dem agent ", Goldman Sachs chairman, who became director of the National Economic Council, came out of his first ever meeting with Donald Trump "Stupefied" how stupid the guy was. During a discussion on various economic issues, Cohn told Trump that the Federal Reserve would likely raise rates during his first term, to which President Buy High, Sell Low, would have responded: "We should just borrow a lot of money. 'money. , and then sell it to make money. This suggestion and the "lack of basic understanding" about the functioning of the federal debt have apparently rekindled Cohn's backbone, which explained that increase the deficit and add to the debt, something that, in theory, would be counterproductive for a delusional president who had pledged to completely eliminate the federal debt. But the president "I'm really smart" has not finished:
The elected president has proposed a solution.
"Just run the presses – print money," said Trump, according to Woodward.
Cohn suggested that this would hurt the economic and economic health of the United States because it is thought that printing large amounts of money could lead to inflation. . . . Cohn also pointed to the federal debt ceiling, a statutory limit on the amount of debt the federal government may have outstanding. Even an approach to the debt ceiling can hurt the stock market and US economic growth.
But according to Woodward, Cohn's message did not seem to connect.
"It was clear that Trump did not understand how the US government's debt cycle works," Woodward writes.
Of course, the 45th President of the United States is an idiot, it is not exactly a new revelation. (Cohn has not publicly commented on any Woodward report). His first secretary of state called him a "moron". Secretary of Defense Jim Mattis, according to Woodward, told his close associates that the president "included" a student in fifth or sixth grade ". Scott Pruitt basically called him a fool "when it came to things like the Constitution and the rule of law." Former Chief of Staff of the White House Katie Walsh According to him, working with him was "like trying to understand what a child wants", which seems to be an insult to children. And of course, someone "pretending to represent the opinions" of Cohn sent an email in April 2017 describing the president as "an idiot surrounded by clowns".
The words that come out of his mouth and the tweets that emerge from his fingers suggest that all these evaluations are correct. Still, it's good to see Cohn – who apparently also prevented Trump from destroying two huge trade deals by simply removing documents from his office, because the president has never mastered a concept that most babies learn. It would have been much better if he had released his "I'm stupid" T-shirt while working at the White House and had more to lose, but hey, better late than never!
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C.E.O. area could receive millions in compensation despite being a sex predator accused, after all
Over the weekend, individuals who think that men accused of sexual harassment and abuse should still receive a nine-figure allowance The Moonves, who resigned as chairman and C.E.O. of CBS after the allegations of Harvey WeinsteinHis behavior, perhaps, not to mention the billion dollars he has earned in recent years. But, surprise! After all, Les could have his salary:
. . . In a new filing with the Securities and Exchange Commission on Monday, CBS claims that the remaining $ 120 million of the Moonves exit payment will be placed in a trust fund and held in reserve until it is cleared. determines whether the company has reason to fire Mr. CBS is awaiting the results of two ongoing independent investigations into Moonves' activities and culture within the company before formally triggering the termination clause in his contract.
In a statement to The new yorker, Moonves – who remains on the network as an advisor – said that the "appalling charges" against him "are false".
Donald Trump would immediately give no credit to Obama for the healthy economy he inherited,
As you may have heard, Donald Trump likes to brag about the good performance of the economy, literally forgetting every time the recovery began, nine years ago, when he was busy claiming to be a success . businessman on television. But Trump became particularly energetic on the subject when, on Friday, his predecessor decided to weigh his economic legacy in a speech: When you hear about this economic miracle that occurs, when the number of jobs comes out, the number of monthly jobs, suddenly, Republicans say it's a miracle. I have to kind of remind them that these numbers are the same as they were in 2015 and 2016. "And, as you've probably figured out, it was not up to man- child in chief!
Of course . . .
Also Monday, the president claimed one of his best lackeys:
. . . a string of bulls – t that would normally have resulted in Kevin Hasset Score points with the boss if only he had not made Trump look like the idiot that he is:
Hassett, the chairman of the Council of Economic Advisers, admitted that President Trump had made a misleading statement about the economy in a tweet on Monday. During a press briefing, Hassett was confronted by a journalist who emphasized Trump's assertion that G.D.P. The growth rate is higher than the unemployment rate for the first time in over 100 years: "This is just not true". Hassett admitted that the claim was incorrect, stating that someone had probably added a zero to him. did that. "He also said that he did not know if a quote attributed by Trump to former President Obama saying that Trump would need a" magic wand "to get the GDP at four percent, it was true. "I do not know. . . I'm not chairman of Twitter's advisors, "he said.
China begs Wall Street to make sense of Donald Trump
In the wake of the president, the latest trade wars are good and easy to achieve, Beijing turned to help the financial sector in a final attempt:
The Chinese government is inviting Wall Street's top bankers to a rushed meeting in Beijing as President Donald Trump threatens to impose punitive tariffs on all Chinese exports to the United States.
According to three people familiar with the initiative, Chinese Communist Party leaders invited leaders of major US financial institutions to attend a "China-U.S. Financial Roundtable "in Beijing on September 16, followed by a meeting with Wang Qishan, Vice President of China.
Chinese officials hope that the new group, which will be jointly chaired by Zhou Xiaochuan, former governor of China's central bank, and John Thornton, former head of Goldman Sachs, president of mining group Barrick Gold, will meet every six months to discuss Sino-US relations and advise the Chinese government on financial and economic reforms.
"Those of us in the financial industries of both countries realize that we have an obligation to help improve relations between the United States and China," said one person involved in the round table. Financial Times. "This relationship is too important to be destroyed by a few people."
Somewhere else!
After his imminent death, AIG C.E.O. rebirth of plots (Reuters
The Bitcoin crisis seems to get worse before things get better (Bloomberg
House Republicans seek more tax cuts in the run-up to mid-term elections (Reuters
D. E. Shaw Partner defends himself after the dismissal (W.S.J.
Can we survive the next financial crisis? (Bloomberg
Janet Yellen calls for the US carbon tax (Financial Times
The Koch network announces a new super PAC before midterms (The Washington Post
Rat fires the fire alarm inside the D.C. building (UPI
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