And another one gone...

[The Barbarian]

Gary Cohn Resigns as White House Economic Adviser After Losing Tariffs Fight
Defeat on tariffs was latest setback for Mr. Cohn, who has seen many ups and downs in turbulent West Wing

Gary Cohn will resign from the White House after 14 months serving as President Donald Trump’s top economic adviser, he said Tuesday, days after Mr. Trump surprised his senior staff by announcing steel and aluminum tariffs that Mr. Cohn had opposed.

During his time at the White House, Mr. Cohn oversaw a major revamp of the U.S. tax code and pushed a significant rewrite of financial rules. But the former Goldman Sachs Group Inc. executive stumbled in an uphill and monthslong fight to sway Mr. Trump against the tariffs. He was also on the losing side of an effort to prevent the U.S. withdrawal last year from the Paris climate accord, and will leave having made little progress advancing a $1 trillion infrastructure program.

Financial markets have seesawed in recent weeks, first on the prospect that higher federal budget deficits approved by Mr. Trump might boost inflation and interest rates and more recently because of his desire to start a “trade war.”

Mr. Cohn’s departure could further rattle investors. Though not universally well liked on Wall Street, Mr. Cohn was widely admired for his market savvy and his pro-trade world view, which many traders and executives share. The dollar slumped, and futures in the Dow Jones Industrial Average were down about 300 points, or 1.2%, late Tuesday.

https://www.wsj.com/articles/gary-cohn-to-resign-as-president-trumps-economic-adviser-1520376157

 

[john w]

Gary Cohn Resigns as White House Economic Adviser After Losing Tariffs Fight
Defeat on tariffs was latest setback for Mr. Cohn, who has seen many ups and downs in turbulent West Wing

Gary Cohn will resign from the White House after 14 months serving as President Donald Trump’s top economic adviser, he said Tuesday, days after Mr. Trump surprised his senior staff by announcing steel and aluminum tariffs that Mr. Cohn had opposed.

During his time at the White House, Mr. Cohn oversaw a major revamp of the U.S. tax code and pushed a significant rewrite of financial rules. But the former Goldman Sachs Group Inc. executive stumbled in an uphill and monthslong fight to sway Mr. Trump against the tariffs. He was also on the losing side of an effort to prevent the U.S. withdrawal last year from the Paris climate accord, and will leave having made little progress advancing a $1 trillion infrastructure program.

Financial markets have seesawed in recent weeks, first on the prospect that higher federal budget deficits approved by Mr. Trump might boost inflation and interest rates and more recently because of his desire to start a “trade war.”

Mr. Cohn’s departure could further rattle investors. Though not universally well liked on Wall Street, Mr. Cohn was widely admired for his market savvy and his pro-trade world view, which many traders and executives share. The dollar slumped, and futures in the Dow Jones Industrial Average were down about 300 points, or 1.2%, late Tuesday.

https://www.wsj.com/articles/gary-cohn-to-resign-as-president-trumps-economic-adviser-1520376157

Uh, oh...The market may "plummet" tomorrow!!!!!!!!!!!!!!!!!!!!!!!

 

[The Barbarian]

Uh, oh...The market may "plummet" tomorrow!!!!!!!!!!!!!!!!!!!!!!!

Not tomorrow; today:

Stock market rattled as Cohn resigns from Trump White House
Dow futures tumble more than 400 points at lows amid news of the resignation of Trump’s key economic adviser.

https://www.marketwatch.com/story/s...ohn-resigns-from-trump-white-house-2018-03-06

Oh, wait. They "tumbled." Never mind. :shocked:

 

[The Barbarian]

This morning:

Donald Trump’s chief economic advisor Gary Cohn is leaving the White House, and the markets aren’t happy.

S&P 500 futures immediately dropped by 1.1% on the news, which may not sound like a lot, but implies a loss of some $230 billion in the market value of the US stock market. They then continued downward, falling by 1.3% at 7:30 pm EST.
https://qz.com/1223164/gary-cohn-resigns-cohn-is-leaving-the-white-house-and-markets-are-tanking/

 

[john w]

Not tomorrow; today:

Stock market rattled as Cohn resigns from Trump White House
Dow futures tumble more than 400 points at lows amid news of the resignation of Trump’s key economic adviser.

https://www.marketwatch.com/story/s...ohn-resigns-from-trump-white-house-2018-03-06

Oh, wait. They "tumbled." Never mind. :shocked:

Market is tanking, the Dow being down 57 points with a little over an hour to go, in the standard session!!!!!It's Trump's fault, and global warming/cooling, inflation, interest rates, earnings, Super Bowl theory, productivity losses, Oprah deciding not to run, Jerry Springer deciding to run......................................

Nothing to this "analyst" gig.

 

[john w]

Dateline Dallas, TX: Market update

Since my last updated, the Dow sank another 26 points, and plummeted almost 83 points on the day, as worries about worries, and possible earthquakes in the future weighed on investors minds.

One real analyst also attributed the sell off to more sellers, than buyers.

Fake analyst saint John "I still think Enron might be a good long term play" W

 

[john w]

Dateline Dallas, TX: Market update

News flash!!! Dow futures indicate the Dow will plummet 62 points at the opening!!!!!

 

[The Barbarian]

Dow drops more than 400 points after Trump announces tariffs
http://money.cnn.com/2018/03/01/investing/dow-jones-trump-tariffs/index.html

Just a coincidence... nothing to worry about...

 

[john w]

Dow drops more than 400 points after Trump announces tariffs
http://money.cnn.com/2018/03/01/investing/dow-jones-trump-tariffs/index.html

Just a coincidence... nothing to worry about...

1.
400 points=1.6%

It's 1929!!! The market has plummeted!!! IBM was off 1.6% the other day, down 2 1/2 points, to $155 1/2!!!!!!!!!!!!!!It plummetted!!!!

2.Dow up over 35% since Trump elected.Just a coincidence... no correlation..

Cricket...cricket..

 

[The Barbarian]

1.
400 points=1.6%

So the market drops a bit less than 2% of its total value in one day, just because Trump said something stupid that looked like it was going to set off a trade war.

It's 1929!!!

Just a big drop, and it was entirely unnecessary.

The market has plummeted!!!

Wall St. Journal said "tumbled." But what do they know about the markets?

IBM was off 1.6% the other day, down 2 1/2 points!!!!!!!!!!!!!!It plummetted!!!!

Shares of International Business Machines (IBM) are down $6.34, or almost 4%, at $162.78, continuing last night’s losses, as the company’s return to revenue growth last quarter is overshadowed by scrutiny of margins and skepticism about the company’s outlook, offered on its conference call yesterday, of “at least $13.80” this year.
https://www.barrons.com/articles/ib...growth-versus-margins-versus-taxes-1516378068


Turns out, there was a reason for that, too.

2 .Dow up over 35% since he was elected.Just a coincidence... no correlation..

It continued the upward trend of the past 8 years until he did something stupid:

You're confusing weather and climate, again.

Cricket...cricket..

In this case, cockroach. You don't know your Dictyoptera very well.

 

[john w]

So the market drops a bit less than 2% of its total value in one day, just because Trump said something stupid that looked like it was going to set off a trade war.



Just a big drop, and it was entirely unnecessary.



Wall St. Journal said "tumbled." But what do they know about the markets?




Shares of International Business Machines (IBM) are down $6.34, or almost 4%, at $162.78, continuing last night’s losses, as the company’s return to revenue growth last quarter is overshadowed by scrutiny of margins and skepticism about the company’s outlook, offered on its conference call yesterday, of “at least $13.80” this year.
https://www.barrons.com/articles/ib...growth-versus-margins-versus-taxes-1516378068


Turns out, there was a reason for that, too.





It continued the upward trend of the past 8 years until he did something stupid:

You're confusing weather and climate, again.





In this case, cockroach. You don't know your Dictyoptera very well.

A 1.6% drop is a big drop? Sure it is, kid.


Well, Babbs, I will let you carry on, and keep an eye on your CD's(and I do not mean compact discs),as you are beginning to bore me with your kindergarten "analysis" of the current "market melt down/crash."

Bye, bye, and don't buy bonds.

 

[john w]

Wall St. Journal said "tumbled." But what do they know about the markets?




Shares of International Business Machines (IBM) are down $6.34, or almost 4%, at $162.78, continuing last night’s losses, as the company’s return to revenue growth last quarter is overshadowed by scrutiny of margins and skepticism about the company’s outlook, offered on its conference call yesterday, of “at least $13.80” this year.
https://www.barrons.com/articles/ib...growth-versus-margins-versus-taxes-1516378068


Turns out, there was a reason for that, too.

What a mess-I cannot resist. Look, kid, I used IBM as an analogy, i.e., I just made up the #'s. I only used IBM, to "dumb it down for you," as it is probably one of the few stocks that you recognize. The point? ABC stock goes down $2 3/4, to $155.25, from $158, i.e., 1.75%, and people do not jump out the window, cheat on their wife/husband, take ludes/crack cocaine, build bomb shelters, look for a second job/coming, .....But, when the Dow drops 400 points, 1.6%, the idiots in the media, and you, who would not know the difference between "over the counter," and the counter at a diner, freak out. It's called "Bad News Sells." Ecclesiastes 1:9 KJV

I wish you well, Babbs, when you enter college in a few years.

 

[The Barbarian]

What a mess-I cannot resist. Look, kid, I used IBM as an analogy, i.e.

Bad luck, um? Maybe you should have used the stock of a company not in transition. Something a little more stable.

I just made up the #'s.

Yeah, I figured, but the real thing was too good for me to pass up, after your imaginary data.

I only used IBM, to "dumb it down for you,"

I figured so; it's likely one of the few stocks that you recognize.

The point?

The point is, you're confusing weather and climate. Noise and signal. You see, there are random variations in the market that are pretty much noise. And then there are things like that "plunge" that were caused by Trump's idiot protectionist tariff announcement. They aren't the same. Would you like me to show you why?

I wish you well, Babbs, when you enter college in a few years.

You're a couple of weeks late. One of the good things Texas has done is to make college very affordable for retirees. This semester, I'm working on St. Thomas Aquinas. But thanks for the wishes.



You have a nice time and remember, noise isn't signal, hear?

 

[The Barbarian]

Meantime, another adult leaves the WH, with fewer and fewer people on hand to keep Trump from flipping out and announcing idiot ideas. At the same time, Hicks' departure removes a source of emotional support that kept Trump from being completely isolated. Nothing good can come from that.

 

[john w]

The point is, you're confusing weather and climate. Noise and signal.

No, I'm not. Check.

You see, there are random variations in the market that are pretty much noise.

Oh. I did not know that. That was my point. You had to GOOG that.

"You see"-translated-filler, empty "argument," as the poster does not see.It is akin to saying, "To be honest with you...It is obvious..."

And then there are things like that "plunge" that were caused by Trump's idiot protectionist tariff announcement.

No, the so called analysts most of the time, attribute the market's drop/rise, to day-to-day events, that have/had NADA to do with the movement.

You are quite naive, kid, and believe the headlines. You need to get out more. In contrast, the "smart" people, such as myself,"get" the real reasons for the market's trend, and are not so stupid, naive, ignorant, to believe we are smart enough to "call" the day-to-day reasons, although all these so called "experts" in the press/media, and you, allegedly are. I've been through 34 years of the up's/down's, and understand how not to listen to the fools in the media; and thus, should be retiring next year, with an approx. $850,000 net worth, 95%+ derived from the equity market. I am not a Warren Buffet/Peter Lynch, but that will do.

You have a nice time and remember, noise isn't signal, hear?

Oh. And remember-Social security won't allow you to by dentures.

 

[The Barbarian]

Barbarian observes:
The point is, you're confusing weather and climate. Noise and signal.

No, I'm not.

I get that you don't think so. But you're still unclear on the difference between trends and random fluctuations.

Barbarian explains:
You see, there are random variations in the market that are pretty much noise.

Oh. I did not know that.

Most analysts, however do know that. I was in graduate school at USC, when the foundational work in analyzing the fractal nature of market movements was done. My interest was in biological systems, and it was surprising to see that things like weather and climate, the stock market, and so on, acted the same way that interacting populations act. But there you are. Turns out the noise has an orderly structure in each case, and can be analyzed itself.

That was my point. You had to GOOG that.

I forgot a lot of things, but not that. It will be 40 years this spring since I found out about it.

"You see"-translated-filler, empty "argument," as the poster does not see.It is akin to saying, "To be honest with you...It is obvious..."

Funny how people who do that, are never aware of it, isn't it? :wave:

No, the so called analysts most of the time,

Do you call yourself an analyst?

You are quite naive, kid,

Well, you know how naive barbarians are. Notoriously so.

and believe the headlines.

You need to get out more.

Unfortunately, I don't get to stock exchanges much. Most of my out time is down in the backwaters of the Trinity:

Or getting asked to leave the roofs of parking garages...

Fortunately, there's this thing called "the internet" that lets me check my stuff online, as well as what the market is doing generally. You should try it.

In contrast, the "smart" people, such as myself,"get" the real reasons for the market's trend

You clever devil, you. I'm just a dumb old barbarian, remember? And you with a net worth of $850,000! I am impressed.

Oh. And remember-Social security won't allow you to by dentures.

So far, I haven't paid for any dental work, not even co-pays; there is a way to make sure all of that is covered. My wife handled insurance problems for a department of the medical school, and she set us up so that we don't pay anything at all for care. It's not cheap, but it's quite a good deal.

 

[The Barbarian]

What drove the markets?

Investors were nervous, fleeing assets perceived as more risky after the news of Cohn’s resignation. He is regarded as the chief architect of Wall Street-friendly corporate tax cuts signed into law last year, and he was seen as a level head in an administration that has seen tumult.

His decision to leave the role as the president’s top economic adviser adds to fears that Trump is adopting an increasingly protectionist stance and could spark a global trade war. That type of conflict could threaten the U.S. economic growth and corporate earnings.

The European Union said Wednesday it is discussing which American products it would hit with tariffs if Trump moves ahead with his plan. In addition, the Trump administration is reportedly considering a broad range of import tariffs on Chinese goods.
https://www.marketwatch.com/story/dow-set-for-300-point-drop-after-cohns-exit-2018-03-07

 

[john w]

Barbarian observes:
The point is, you're confusing weather and climate. Noise and signal.

No, Babbs, do not confuse your lack of reading comprehension skills, with any alleged confusion on my part.

I get that you don't think so. But you're still unclear on the difference between trends and random fluctuations.

No, Babbs, do not confuse your lack of reading comprehension skills, with any alleged confusion on my part.

You see, there are random variations in the market that are pretty much noise.Most analysts, however do know that. I was in graduate school at USC, when the foundational work in analyzing the fractal nature of market movements was done. My interest was in biological systems, and it was surprising to see that things like weather and climate, the stock market, and so on, acted the same way that interacting populations act. But there you are. Turns out the noise has an orderly structure in each case, and can be analyzed itself.

Thanks, Oprah.

Do you call yourself an analyst?

Yes/Others do. I'm quite brilliant.

Unfortunately, I don't get to stock exchanges much.

We know. My evidence? Your posts.

Fortunately, ...

No such thing as "fortune/luck."

I'm just a dumb old barbarian, remember? And you with a net worth of $850,000! I am impressed.

Not dumb-just ignorant, by buying headlines.Yes, quite impressive, for a confused analyst.

 

[The Barbarian]

Barbarian observes:
You see, there are random variations in the market that are pretty much noise.Most analysts, however do know that. I was in graduate school at USC, when the foundational work in analyzing the fractal nature of market movements was done. My interest was in biological systems, and it was surprising to see that things like weather and climate, the stock market, and so on, acted the same way that interacting populations act. But there you are. Turns out the noise has an orderly structure in each case, and can be analyzed itself.

Thanks, Oprah.

I doubt if Oprah has a master's in systems. You don't have any idea what this is about, do you?

Barbarian observes:
Unfortunately, I don't get to stock exchanges much. Fortunately, there's this thing called "the internet" that lets me check my stuff online, as well as what the market is doing generally. You should try it.

We know. My evidence? Your posts.

Well thank you. Give it a try. It might clear up your confusion about why the market took a dive when Trump announced his hare-brained tariff idea.

I'm quite brilliant.

A very stable genius, um?

 

[The Barbarian]

Cohn's resignation may be a 'turn for the worse' in trade: Larry Kudlow

White House chief economic advisor Gary Cohn's resignation may be a "turn for the worse" in the ongoing trade battles, said Larry Kudlow, CNBC senior contributor.

"I wouldn't necessarily say the cause for freer trade is over," Kudlow said Tuesday on CNBC's "Fast Money." "But we'll see who is appointed. I personally regret this [resignation] very much."

Kudlow said he's spoken with Cohn in recent days and "personally urged him to stay" in his post as President Donald Trump's economic advisor.

Cohn, a former Goldman Sachs president and free trade advocate, announced Tuesday evening that he would leave his post at the White House. The departure date has not yet been set.

"I'm quite sorry that this is true," said Kudlow. He said Cohn's resignation was "not great" for trade.

The news comes as Trump continues to move forward on his proposed steel and aluminum imports, pushing for a 25 percent tariff on steel and a 10 percent tariff on aluminum. Cohn and Trump's advisors did not agree on several important tariff issues.

Markets immediately dropped about 1.5 percent after the announcement of Cohn's resignation.
https://www.cnbc.com/2018/03/06/cohns-resignation-may-be-a-turn-for-the-worse-larry-kudlow.html