Sometimes, the more you protect your force, the less secure you may be. Sometimes, the more force is used, the less effective it is. - Bob Woodward

He talked about how tariffs risked roiling the markets and jeopardizing a lot of the stock market gains. He said the tariffs would be, in effect, a tax on American consumers. Tariffs would take away a lot of the good that Trump had done through tax and regulatory reform. You’re the globalist, Trump said. I don’t even care what you think anymore, Gary. Trump shooed him away. Cohn retreated to a couch.

In a small group meeting in his office one day, Kelly said of the president, “He’s an idiot. It’s pointless to try to convince him of anything. He’s gone off the rails. We’re in crazytown. “I don’t even know why any of us are here. This is the worst job I’ve ever had.

Next, Cohn repeated what everyone was saying: Interest rates were going to go up over the foreseeable future. I agree, Trump said. “We should just go borrow a lot of money right now, hold it, and then sell it and make money.” Cohn was astounded at Trump’s lack of basic understanding. He tried to explain. If you as the federal government borrow money through issuing bonds, you are increasing the U.S. deficit. What do you mean? Trump asked. Just run the presses — print money.