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Trump told Gary Cohn to 'print money' to lower the national debt, according to Bob Woodward's book

MTAtech

MTAtech

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[h=1]Trump told Gary Cohn to 'print money' to lower the national debt, according to Bob Woodward's book[/h]
As a candidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep.
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Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward's new book, "Fear: Trump in the White House," which went on sale Tuesday.
"Just run the presses — print money," Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council.
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If anything proves that this guy doesn't know what he's doing -- or even has a basic understanding of monetary policy, this is it.
 
I'm sure Trump has a much larger stimulis package than Obama
 
Amelia said:
But we still have Trump supporters on this site trashing Obama for quantitative easing when we were trying to recover from Bush's recession.
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That just means they don’t know any more than Trump. Quantitative easing was done by the Fed. It also was correct policy.

What Trump said just doesn’t make sense. Printing money increases the debt.
 
gulfman said:
I'm sure Trump has a much larger stimulis package than Obama
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That’s actually correct. Trump and the GOP have increased discretionary spending far more than they allowed under Obama. If they had done the same back then, unemployment would have came down years earlier.
 
Common Sense 1 said:
Old article it's from September 11, 2018?

A weird story because we all know how GREAT our economy is doing under the leadership of the Trump administration!!

Unemployment 3.6 April 2019



The whole story behind Trump’s alleged ‘print money’ comment

The whole story behind Trump's alleged 'print money' comment
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So it’s from 2018. He still said it.

The 3.6% unemployment rate isn’t because Trump knows what he’s doing. It’s entirely due to ramped up government spending.
 
MTAtech said:
So it’s from 2018. He still said it.

The 3.6% unemployment rate isn’t because Trump knows what he’s doing. It’s entirely due to ramped up government spending.
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Just this last week Trump said he wanted more quantitative easing. Because he wants the Fed to make up for how he is effing up the markets with his trade wars.
 
gulfman said:
I'm sure Trump has a much larger stimulis package than Obama
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Isn’t it Denver, Colorado that has loosened the restrictions on ‘shrooms?
 
Risky Thicket said:
Yeah, but Trump is a brilliant business man, a billionare, and he graduated at the top of his class at Wharton!
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Stable genius who has locked away his transcripts
Billionaire who has locked away his tax returns
Playboy who pays for *****

:lamo. :doh
 
MTAtech said:
[h=1]Trump told Gary Cohn to 'print money' to lower the national debt, according to Bob Woodward's book[/h]If anything proves that this guy doesn't know what he's doing -- or even has a basic understanding of monetary policy, this is it.
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Red:
AFAIK, everything he's said regarding economic policy proves he doesn't know what he's doing and that he lacks even a rudimentary understanding of macro and micro economics theory and practice. Trump quite literally personifies the irresponsibility of which Rothbard remarked.


It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a "dismal science." But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
-- Murray N. Rothbard
​
 
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Mycroft said:
If anything proves that useful idiots are useful idiots, it's their eagerness to believe rumors as truth.
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It is even more idiotic to assume Trump is not capable of stupidity like this.
 
Amelia said:
But we still have Trump supporters on this site trashing Obama for quantitative easing when we were trying to recover from Bush's recession.
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Obama would have nothing to do with quantitative easing. That's all on the federal reserve.
 
MTAtech said:
So it’s from 2018. He still said it.

The 3.6% unemployment rate isn’t because Trump knows what he’s doing. It’s entirely due to ramped up government spending.
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Please that is just so silly..... The economy of the United States is the envy of the world!
The Trump administration is doing a excellent job with our economy.

US economy grows by 3.2% in the first quarter, topping expectations
US GDP grows by 3.2% in the first quarter

First-quarter gross domestic product expanded by 3.2%, the Bureau of Economic Analysis said in its initial read of the economy for that period.
Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter.
Gross domestic product for the first quarter was the best start to a year since 2015.

Disposable personal income increased by 3%, while prices increased by 1.3% when excluding food and energy. Overall prices climbed by 0.8% in the first quarter.
 
Mycroft said:
If anything proves that useful idiots are useful idiots, it's their eagerness to believe rumors as truth.
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Or reply to every thread that in the slightest way may make their Master look bad.
 
Bucky said:
Trump wanted to print more money... however, we know Democrats want to do this. It is already a given.
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Two stupid ideas do not equate to a smart idea. Just so ya know.....
 
Xelor said:
Red:
AFAIK, everything he's said regarding economic policy proves he doesn't know what he's doing and that he lacks even a rudimentary understanding of macro and micro economics theory and practice. Trump quite literally personifies the irresponsibility of which Rothbard remarked.


It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a "dismal science." But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
-- Murray N. Rothbard
​
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And yet, his economic performance has been nothing less that outstanding. Practicality trumps "theories" all the time. Funny thing is that economists spend most of their time arguing those micro and macro theories amongst themselves.
 
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