This Donald Trump Story Reveals the True Power of Whiteness
Buried among the mountain of tales in Bob Woodward’s excavation of Donald Trump’s Hogwarts Acadamy for Grand Wizards, is a story that reveals the ineptitude of Donald Trump and the brazen supremacy of whiteness.
According to Business Insider, Woodward’s new book, Fear, contains an anecdote about Donald Trump that boggles the mind. It details a conversation between former National Economic Council Director Gary Cohn and Donald Trump, in which the two discussed rising interest rates, the deficit and the national debt, to which Trump offered an interesting solution.
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said.
According to Woodward, this left Cohn “astounded at Trump’s lack of basic understanding” about how the government works and what borrowing would mean. Although businesses sometimes sell off their debt during times of low interest rates, Cohn tried to explain to Trump that borrowing more money would increase the deficit and the federal debt and is akin to Trump believing he could prevent himself from drowning by storing all of the water in his lungs.
When Cohn tried to teach this 8th-grade economic theory to Trump, the president came up with an alternative solution.
“Just run the presses,” Trump suggested. “Print money.”
In response, Cohn again tried to lay out the basics of how debt, inflation, the stock market and the debt ceiling worked, to no avail. Trump continued to repeat his suggestions to print more money or borrow some money during the meeting until Cohn just gave up.
“It was clear that Trump did not understand the way the US government debt cycle balance sheet worked,” Woodward wrote.
But this is not news, Trump offered the same sage advice when he was running for the office. He often voiced his belief that the country could borrow its way out of debt and just print money whenever it needed.
“People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government,” Trump told CNN’s Chris Cuomo in May 2016. “First of all, you never have to default because you print the money, I hate to tell you, OK?”
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