Lots of hyperbole and gnashing of teeth this morning about the resignation of ex-Goldman Sachs President, Gary Cohn as Trump’s Chief Economic Advisor. See: Dow drops more than 300 points at the open on Gary Cohn’s resignation.
The manically inflated stock market has seized this occasion for another well deserved nervous breakdown. But popular commentary aside, this is not about the emergence of anti-free trade policies out of the White House. Make no mistake. This is about the financial sector losing its inside man at the President’s elbow. And that is a necessary development in the status quo disruption needed to get the finance sector back in service to the real economy, rather than the other way around. This is one small step in the right direction.
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