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-   -   Gary Cohn just resigned (http://www.paceadvantage.com/forum/showthread.php?t=143647)

lamboguy 03-06-2018 05:47 PM

Gary Cohn just resigned
 
this should bring some volatility to the s+p and also the metals markets. gold was tipping its hand today that something big is on the way, not sure if this is the something big though.

Clocker 03-06-2018 06:14 PM

Wow, no one saw that coming! :rolleyes:

I'm not sure, but he may have been the last reputable economic adviser Trump had left.

Oh, besides Peter Navarro, of course. :pound:

FantasticDan 03-06-2018 06:39 PM


elysiantraveller 03-06-2018 06:47 PM

https://i.imgflip.com/1anjib.jpg

PaceAdvantage 03-06-2018 06:50 PM

Just like the Hollywood Access video, this must mean Trump's done for. :pound:

johnhannibalsmith 03-06-2018 06:52 PM

thanks 0bama

Tape Reader 03-06-2018 07:04 PM

Buying opportunity for day trade. Opening will be the low for the day.

Clocker 03-06-2018 07:22 PM

Quote:

Originally Posted by PaceAdvantage (Post 2286879)
Just like the Hollywood Access video, this must mean Trump's done for.

Hollywood Access wasn't a credible warning of possible economics troubles.

boxcar 03-06-2018 07:23 PM

Quote:

Originally Posted by lamboguy (Post 2286863)
this should bring some volatility to the s+p and also the metals markets. gold was tipping its hand today that something big is on the way, not sure if this is the something big though.

The "something big" is the expected fallout from the audit of the Federal Reserve which is underway. :coffee:

Ocala Mike 03-06-2018 07:29 PM

Quote:

Originally Posted by PaceAdvantage (Post 2286879)
Just like the Hollywood Access video, this must mean Trump's done for. :pound:

No effect on Trump, maybe, but that great Trump stock market you've all been clamoring about......:rip::rip::rip::rip::rip::rip:

FantasticDan 03-06-2018 07:30 PM

Quote:

Originally Posted by PaceAdvantage (Post 2286879)
Just like the Hollywood Access video, this must mean Trump's done for. :pound:

4

D

Chess

Bay

Bee

PaceAdvantage 03-06-2018 07:50 PM

Quote:

Originally Posted by FantasticDan (Post 2286891)
4

D

Chess

Bay

Bee

Awwwww...Gary Cohn resigned.....awwwwwww.....what are we going to do NOW? :lol:

Good, let the market drop...we have finally erased 2018 gains...:lol:

I love how you guys act as if the sky is falling....when we erase all the gains we've made since Trump was elected, let me know.

classhandicapper 03-06-2018 07:51 PM

Good, another globalist bites the dust.

On second thought let me take that back. Another guy willing to sell 10s of millions of Americans down the toilet and rack up huge debts to foreigners for greater profits for Wall St bites the dust.

elysiantraveller 03-06-2018 07:56 PM

Quote:

Originally Posted by PaceAdvantage (Post 2286899)
Awwwww...Gary Cohn resigned.....awwwwwww.....what are we going to do NOW? :lol:

Good, let the market drop...we have finally erased 2018 gains...:lol:

I love how you guys act as if the sky is falling....when we erase all the gains we've made since Trump was elected, let me know.

I don't think anyone says the sky is falling.

I find it funny even Trump's Chief Economic Advisor disagrees with his trade plan so much he's willing to resign over it.

chadk66 03-06-2018 08:00 PM

couldn't handle all the winning

Clocker 03-06-2018 08:14 PM

Quote:

Originally Posted by chadk66 (Post 2286904)
couldn't handle all the winning

He should have stuck around then. He wouldn't have to worry about that in the trade area.

PaceAdvantage 03-06-2018 08:14 PM

Quote:

Originally Posted by elysiantraveller (Post 2286903)
I don't think anyone says the sky is falling.

I find it funny even Trump's Chief Economic Advisor disagrees with his trade plan so much he's willing to resign over it.

He was supposedly out the door a few months ago...I'm surprised he stuck around this long

classhandicapper 03-06-2018 08:19 PM

Quote:

Originally Posted by chadk66 (Post 2286904)
couldn't handle all the winning

We couldn't get rid of that guy fast enough. IMO, he's an idiot. I may have been wrong for a couple of decades, but at least in the face of overwhelming evidence I finally figured it out. And to be clear, I am in the small subgroup that made out like a bandit over the last 30 years.

Clocker 03-06-2018 08:20 PM

Quote:

Originally Posted by PaceAdvantage (Post 2286910)
He was supposedly out the door a few months ago...I'm surprised he stuck around this long

He played a major role in the White House on the tax bill. And he may have stuck around in a last ditch effort to talk Trump out of his tariff plans.

It will certainly be interesting to see what he has to say on that issue.

JustRalph 03-06-2018 08:53 PM

Never heard of him

Clocker 03-06-2018 09:11 PM

Quote:

Originally Posted by JustRalph (Post 2286924)
Never heard of him

From Wiki:

Quote:

Gary David Cohn (born August 27, 1960) is an American investment banker who served as the 11th Director of the National Economic Council and was chief economic advisor to President Donald Trump. He was formerly the president and chief operating officer of Goldman Sachs from 2006 to 2017.
That doesn't say anything about his ability to promote good policy, but it does say that he knows how businesses and the market will react to changes in taxes or tariffs.

The other Trump adviser on trade and tariffs is Peter Navarro, a retired California professor, a liberal and a Democrat. His views on tariffs are generally rejected by economists across the spectrum, liberals and conservatives.

Tape Reader 03-06-2018 09:24 PM

I would bet that Gary David Cohn is long calls at the opening, if he is so smart.

Tom 03-06-2018 10:09 PM

Quote:

Originally Posted by JustRalph (Post 2286924)
Never heard of him

Me neither. :sleeping:

Nutz and Boltz 03-06-2018 10:22 PM

POTUS Trump is doing exactly what he said he would do if he became POTUS for the past 30 years. Gotta give him credit. He's in charge now . Let the chips fall where they may. Maybe he won't make America great again, but maybe at least he will make America "America" again.

PaceAdvantage 03-06-2018 10:54 PM

OK.....NOW the world has gone nuts (or at least off-topic). :pound:

lamboguy 03-07-2018 02:29 AM

With Trump you never know where he is coming from or what you are going to get. He shufflles the deck to no end. Everyone is on a gurss and the media is distracted at all times. I say its a pretty good way to operate and time will prove me right
.

reckless 03-07-2018 05:07 AM

Quote:

Originally Posted by Clocker (Post 2286872)
Wow, no one saw that coming! :rolleyes:

I'm not sure, but he may have been the last reputable economic adviser Trump had left.

Oh, besides Peter Navarro, of course. :pound:

Considering your heretofore 'expert' opinions on what's what and who's who in this country's political and economic world since President Trump's historic Summer of 2015, by you calling Cohn reputable and referring to Navarrro in a snarky manner, I feel quite happy with your assessment. :jump:

reckless 03-07-2018 05:16 AM

Quote:

Originally Posted by FantasticDan (Post 2286876)

FanDan, what is really sinking is the Old World Order where Fortune 500 corporations and despicable globalist cabals buy off politicians such as the leaders of both the GOP and Democrat Party, solely for their financial riches and benefits at the expense of working class citizens here and abroad.

reckless 03-07-2018 05:26 AM

Quote:

Originally Posted by Ocala Mike (Post 2286889)
No effect on Trump, maybe, but that great Trump stock market you've all been clamoring about......:rip::rip::rip::rip::rip::rip:

As I have been almost the only one that has consistently been clamoring for a great stock market since a 11-2-16 prediction of mine -- and now,8,000 plus Dow points later -- saying the market rally is dead because of a resignation by Gary Cohn is ridiculous, to put it nicely.

reckless 03-07-2018 05:30 AM

Quote:

Originally Posted by Tape Reader (Post 2286881)
Buying opportunity for day trade. Opening will be the low for the day.

I am with you Tape Reader. There will probably be a lot of volatility today and maybe the entire week. Opportunity is in front of us and is all for the taking.

Cohn's resignation will not put a halt to the money generating and profit making gold mines of companies such as Apple, Netflix, Master Card, Boeing... and a host of others.

Good luck, Tape Reader.

reckless 03-07-2018 05:39 AM

Quote:

Originally Posted by elysiantraveller (Post 2286903)
I don't think anyone says the sky is falling.

I find it funny even Trump's Chief Economic Advisor disagrees with his trade plan so much he's willing to resign over it.

Aside from knowing what Gary Cohn is all about, I don't have any personal animous towards him.

So, the fact that he resigned over a policy difference with his boss, President Donald J. Trump, was a sign of class. Cohn should be commended for doing the proper, right thing.

And I mean that with no snark at all intended. Too many slugs stay on their jobs because it's an important or well-paying gig even when they are at odds with their superiors, such as clown Jeff Sessions.

reckless 03-07-2018 06:00 AM

Quote:

Originally Posted by classhandicapper (Post 2286900)
Good, another globalist bites the dust.

On second thought let me take that back. Another guy willing to sell 10s of millions of Americans down the toilet and rack up huge debts to foreigners for greater profits for Wall St bites the dust.

Now, now, that's not what the financial, political and 'free' trade experts on this site say.

Those tens of thousands of manufacturing plants and factories closed in the past 35 years ... and those 700,000 plus blue collar jobs lost ... or the billions of US dollars and wealth transferred from America citizens to China, Mexico and others such as the international cabal of Fortune 500 corporations and their partners-in-crime bankers and paper shufflers ... all mean nothing to them. They're the smartest guys in the room, despite being wrong all the time.

Thanks to those one world/one market international globalists, with the help of the bought and paid for GOP and Democrat elites, this country has not had a trade surplus since 1975 or so! That's OK too, according to the smarty-pants, since steel workers really should learn another trade, such as coding in C+ or python.

Shameful for that thinking and for what's really happened as a result, but then again, it's still all a-OK according to our resident geniuses because they could now buy socks, scarfs and underwear at Dollar General or Wal-Mart cheap.

reckless 03-07-2018 06:06 AM

Quote:

Originally Posted by PaceAdvantage (Post 2286910)
He was supposedly out the door a few months ago...I'm surprised he stuck around this long

He would have left months ago but he was pushing to replace Janet Yellen for the job as head of the Federal Reserve.

When he wasn't given the nod, Cohn's leaving clock has been ticking ever since. The President's trade policy, a policy he campaign on and won the election on, gave Cohn a more 'acceptable' reason for quitting yesterday.

reckless 03-07-2018 06:29 AM

Quote:

Originally Posted by Clocker (Post 2286930)
From Wiki:

That doesn't say anything about his ability to promote good policy, but it does say that he knows how businesses and the market will react to changes in taxes or tariffs.

The other Trump adviser on trade and tariffs is Peter Navarro, a retired California professor, a liberal and a Democrat. His views on tariffs are generally rejected by economists across the spectrum, liberals and conservatives.

There is only one or two ways to become a top dog at Goldman Sachs -- one, being a successful trader and money shuffler and I am sure Cohn is one. That's really it in a nutshell. Two, is the ability to corrupt and buy off stupid career politicians to institute the type of economic policy and 'free' trade deals between countries that benefited Cohn and his partners-in-crime bankers at Sachs and elsewhere.

It doesn't matter that all this was a net detriment to the working class and sovereign citizen. Again, it was a job I am sure Gary Cohn was capable of handling and doing well.

As for Peter Navarro --a liberal and a Democrat-- of course his tariff views are rejected by the entire compromised spectrum of elites mentioned.

Many benefited from the 43 years of successive US trade deficits, the transfer of billions and billions of wealth overseas, etc. It is simply a failed and corrupt economic policy they all own up to and still want to continue. It is a PLUS that these crooks reject the likes of Peter Navarro.

PS--Gary Cohn is a liberal and a Democrat too.

reckless 03-07-2018 06:43 AM

Quote:

Originally Posted by JustRalph (Post 2286924)
Never heard of him

What has been left unsaid so far is ... Gary Cohn would have had a similar position in a Hillary! administration too.

He may have also replaced Janet Yellen if Hillary! won, although in all probability, Yellen might have stayed on under Hillary!

Cohn campaigned Trump for the job as Fed Chief this year and the globalist elites in the media pushed for him too. The country is way better off without Cohn as head of the Fed ... it would be like giving the job of watching over the hens to a wolf.

classhandicapper 03-07-2018 08:31 AM

Quote:

Originally Posted by reckless (Post 2286993)
Now, now, that's not what the financial, political and 'free' trade experts on this site say.

Those tens of thousands of manufacturing plants and factories closed in the past 35 years ... and those 700,000 plus blue collar jobs lost ... or the billions of US dollars and wealth transferred from America citizens to China, Mexico and others such as the international cabal of Fortune 500 corporations and their partners-in-crime bankers and paper shufflers ... all mean nothing to them. They're the smartest guys in the room, despite being wrong all the time.

Thanks to those one world/one market international globalists, with the help of the bought and paid for GOP and Democrat elites, this country has not had a trade surplus since 1975 or so! That's OK too, according to the smarty-pants, since steel workers really should learn another trade, such as coding in C+ or python.

Shameful for that thinking and for what's really happened as a result, but then again, it's still all a-OK according to our resident geniuses because they could now buy socks, scarfs and underwear at Dollar General or Wal-Mart cheap.

Exactly.

Free trade can work well when both sides have similar salary and cost structures, similar regulations, and everyone has good intentions and is fair. However, when conditions are very different, one side can win and the other side lose.

When you are running a large trade deficit you are losing.

They are getting the jobs and using their trade surplus to buy our stocks, bonds, real estate, and businesses (getting wealthier). We are getting the cheaper but slowly depreciating cars, electronics, clothes etc. and the liabilities for all the bond interest with accompanying political pressure from abroad because they own all our bonds.

The only ones that make out really well in the US are the large US multinational corporations that move their operations overseas to take advantage of cheap labor, lax regulations etc.. and the subset of people that have surplus savings to invest in them (those that didn't lose their job or take a job with lower income)

Why is it that people can understand that businesses will leave California for Texas or other greener pastures when the taxes, regulations, workers comp costs, and salaries etc.. are not similar, but not understand that companies will leave the US when taxes, regulations, and costs are not comparable. At least when they leave CA, it's another group of Americans benefiting from the switch. When it's global trade and you are losing, America is losing just like CA.

Trump is correct on trade. All the free trade economists have been wrong. Maybe they'll be right after another 50 years, but not before the rest of the world extracts so much wealth from the US we have dropped to their level while they were rising to ours.

I'm no fan of tariffs. That's not a solution. It's a risky policy if it gets out of hand. But if they are used as a hammer to try drive fairer trade deals that will allow US companies to export more and bring jobs and companies back to the US, so be it. We have been getting our clock cleaned for decades on free trade. More of the same is a worse solution.

Clocker 03-07-2018 10:51 AM

Quote:

Originally Posted by reckless (Post 2286988)
by you calling Cohn reputable and referring to Navarrro in a snarky manner, I feel quite happy with your assessment. :jump:

Snarky? Pot, kettle, etc.

How about addressing some facts once in a while, other than just heaping praise on Trump and scorn on anyone that says anything critical about him.

Fact. Bush tried the same steel tariffs in 2002. In short, the country lost a net 200K jobs and Bush backed off. How is repeating the same thing going to have a different outcome this time?

PaceAdvantage 03-07-2018 10:52 AM

Well, the "Gary Cohn Gap" has been officially filled.

Congrats to all those who followed through and bought at the open...you just made some good money in only 90 minutes time.

AndyC 03-07-2018 11:59 AM

Quote:

Originally Posted by reckless (Post 2286994)
He would have left months ago but he was pushing to replace Janet Yellen for the job as head of the Federal Reserve.

When he wasn't given the nod, Cohn's leaving clock has been ticking ever since. The President's trade policy, a policy he campaign on and won the election on, gave Cohn a more 'acceptable' reason for quitting yesterday.

Bingo.

PaceAdvantage 03-07-2018 12:02 PM

Quote:

Originally Posted by PaceAdvantage (Post 2287039)
Well, the "Gary Cohn Gap" has been officially filled.

Congrats to all those who followed through and bought at the open...you just made some good money in only 90 minutes time.

And, as happens as often as not, once the gap was filled, market turns around and starts heading down again...


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