Top economic adviser for the WhiteHouse has resigned

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Top economic adviser for the WhiteHouse has resigned

Postby Cobra-D » Wed Mar 07, 2018 12:20 am

Yep the top adviser on economic policies Gary Cohn has resigned today.

This coming after reports indicating he would do so after Trump announced the steel and aluminum tariffs which Cohns objected to cause it would be horribly stupid idea(I'm paraphrasing of course you know he probably did say it like that)

So how many does that make that's been fired/resigned from the Whitehouse?
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Re: Top economic adviser for the WhiteHouse has resigned

Postby JamishT » Wed Mar 07, 2018 4:06 am

A lot. Here's an in memoriam style video about it:

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Re: Top economic adviser for the WhiteHouse has resigned

Postby IamNotCreepy » Wed Mar 07, 2018 2:10 pm

It's a shame, too, because Cohn was one of the "adults in the room". He is a Democrat and a good balance to the crazier advisors Trump has. Of course, if he's not going to listen, what's the point?
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Re: Top economic adviser for the WhiteHouse has resigned

Postby iMURDAu » Thu Mar 08, 2018 11:25 pm

Has there been an appointment yet? How many people are going to want him to pick the Mad Money guy? Could you imagine those two sounding off at each other about the economy?
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Re: Top economic adviser for the WhiteHouse has resigned

Postby Aquila89 » Sun Mar 18, 2018 4:52 pm

Trump appointed Larry Kudlow to succeed Cohn. So not the Mad Money guy, but they used to co-host a show called Kudlow & Cramer. Then they both got their owns shows.

Kudlow has a degree in history, not economics; he studied economics and Princeton but never got a degree. He's famous for his consistently wrong predictions. In 1993, he predicted that Clinton's tax increases will "depress the economy’s long-run potential to grow." An economic boom followed instead. He denied that there's a housing bubble in 2005. Perhaps most infamously, he wrote in December 2007: "There is no recession. Despite all the doom and gloom from the economic pessimistas, the resilient U.S economy continues moving ahead’”quarter after quarter, year after year’”defying dire forecasts and delivering positive growth. In fact, we are about to enter the seventh consecutive year of the Bush boom." In February 2008, he wrote: "I’m going to bet that the economy will be rebounding sometime this summer, if not sooner. We are in a slow patch. That’s all. It’s nothing to get up in arms about."

One would think that missing the biggest economic crisis since the Great Depression would be enough to disqualify him even from punditry, let alone becoming the president's chief economic adviser. But Kudlow has been a consistent supporter of tax cuts, and apparently that's all that matters.
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Re: Top economic adviser for the WhiteHouse has resigned

Postby Absentia » Sun Mar 18, 2018 9:54 pm

In fairness, pretty much anyone who goes on the record with predictions about the economy is going to be spectacularly wrong some amount of the time. Not that I think Larry Kudlow is particularly insightful, but if you spend enough time on CNBC there's going to be video of you looking like an idiot in hindsight.
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Re: Top economic adviser for the WhiteHouse has resigned

Postby Crimson847 » Mon Mar 19, 2018 1:00 am

My impression of Kudlow from reading his articles is that he somehow manages to maintain a blissful innocence of the taint of opposing viewpoints. It's like he was taught supply-side economic theory in the 80s and then was frozen in a cryo pod until ten minutes ago, whereupon he was thawed out and asked to write a column armed only with a notecard listing the current president and the overall economic conditions.

The flipside to those poorly aged arguments however is that although he's wrong, he's wrong within normal parameters for a post-1980 Republican economic advisor. So although he's a diehard evangelist for the Church of Tax Cuts, he also (for instance) opposes tariffs just like his predecessor did. As such I wouldn't expect any real surprises out of him on policy matters. Combined with the removal of Tillerson for Pompeo, though, I do worry about the trend of relatively disinterested figures in the administration being replaced by people who are more loyal to Trump personally.
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Re: Top economic adviser for the WhiteHouse has resigned

Postby DanteHoratio » Mon Mar 19, 2018 10:46 pm

Trump seems to be driving people away.
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