Woodward book: Trump "the king of debt" wanted to PRINT MONEY to cover HIS ballooning deficits--Cohn was "astounded".

Jul 2015
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I was a fucking PSYCH major even I KNOW this leads to INFLATION! Did I think TRUMP was full of shit when he made the claim about how well and cleverly he used DEBT? I LAUGHED. Unless, of course, going bankrupt x 3 or 4 is 'managing debt' well. (Call me crazy, but when I think about managing debt well it includes PAYING IT OFF too).

Imagine Cohn's surprise when TRUMP said this.

Trump's plan to help eliminate the federal debt was to print money: Woodward book

BY ARIS FOLLEY - 09/11/18 01:56 PM EDT 139


President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.

The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Woodward wrote that Cohn then went on to explain how printing more money is thought to lead to inflation and could be catastrophic for the fiscal health of the U.S....


Trump's plan to help eliminate the federal debt was to print money: Woodward book
 
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Jul 2015
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From another source citing examples in the book...

Cohen reportedly told Trump to expect interest rates to increase.

“We should just go borrow a lot of money right now, hold it, and then sell it to make money,” Trump suggested.

Woodward described Cohn as “astounded” that Trump didn’t realize that issuing bonds to borrow money would increase the national debt.

“What do you mean?” Trump asked, according to Woodward. “Just run the presses — print money.”

 
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From another source citing examples in the book...

Cohen reportedly told Trump to expect interest rates to increase.

“We should just go borrow a lot of money right now, hold it, and then sell it to make money,” Trump suggested.

Woodward described Cohn as “astounded” that Trump didn’t realize that issuing bonds to borrow money would increase the national debt.

“What do you mean?” Trump asked, according to Woodward. “Just run the presses — print money.”
From much earlier, during the campaign:

Donald Trump: "We'll borrow, and if the economy crashes, we'll make a deal."

Perhaps we should call it Donaldnomics.
 

Libertine

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Apr 2015
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Care to guess how much money Obama printed and what he did with it while in office?
 
Feb 2007
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In my mind
Person A told person B who told Woodward.

His book seems to be nothing more then hearsay when it comes to quoting people.
Hearsay, as it is heresy to not praise Trump.

Nay say I. You have dates, times,and who participated, in addition to Trump's long history of dumbfuckery.