Gary Cohn’s Right Here, Not Trump – Trade Deficits Don’t Matter

Economist keep telling everyone that trade deficits don’t matter. The only person with an economics PhD who disagrees is Peter Navarro – our problem being that Navarro’s in the White House advising Trump. Still, it’s good to have Gary Cohn speaking out on this:

Former Trump advisor Gary Cohn could care less about trade deficits.

“Look, I have always said a trade deficit doesn’t matter,” the ex-White House chief economic advisor said during a Washington Post interview Thursday.

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Gary Cohn Should Resign Over Trump’s Trade Tariff Idiocy

Or perhaps we should put that as Gary Cohn was and is right to resign over the idiocy that Donald Trump and Wilbur Ross have cooked up over trade tariffs. And the markets seem to agree too. The point and purpose of economic policy making is not to make Americans poorer. Or at least the policy of the American government shouldn’t be to do so. Yet that is exactly and precisely what this policy does – it’s therefore idiotic, isn’t it?…

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