THE A DOW FUTURES WE'VE BEEN
DOWN ACROSS THE BOARD AS MUCH AS
350 O POINTS AT SOME POINT
TODAY.
JOIN ARING US NOW FORMER REAGAN
ECONOMIST ART LAUGHER.
FIRST OF ALL I WANT TO GET YOUR
REACTION TO THE GARY KOAN
DEPARTURE.
>> I LIKE HIM VERY MUCH I
THOUGHT HE DID A TERRIFIC JOB
AND SORRY HE'S DEPARTING I THINK
THAT LOTS OF OTHER CANDIDATES
CHARLES, THAT WOULD BE VERY GOOD
THIS THAT JOB.
OBVIOUSLY, MY DEAR FRIEND LARRY
I THINK WOULD BE AS GO AHEAD AS
ANYONE.
BUT --
CONE WAS VERY GOOD.
HE DID A GREAT JOB IN TAX BILL
AND THOUGHTFUL CLEAR THINKING
PERSON, AND I THOUGHT HE WAS
JUST HANDLED HIMSELF BEAUTIFULLY
AND --
I DON'T THINK SO HE LEFT BECAUSE
OF A CONFLICT.
I JUST DON'T.
I MEAN TRMP'S COMECT EARLIER IS
WE LIKE ALL SORTS OF VIEWS.
THAT'S THE RIGHT WAY TO BE
PRESIDENT.
YOU'RE AN ADVISOR HE'S THE
PRESIDENT.
AND TELL HIM WHAT YOU'RE
THINKING.
>> BUT AFTER THE TAX CUT THERE
WASN'T A PER SE IDEOLOGICAL GOLD
MAN SACHSING A PL WE'RE TALKING
ABOUT ECONOMIC NATIONALISM.
AMERICA FIRST THAT'S THE KIND OF
THING THAT DOESN'T EMANATE OUT
OF WALL STREET.
>> YOU KNOW, YORNG YOU'RE RIGHT
THAT ADDING COHEN VIEWS ON
EVERYTHING ARE VERY, VERY
VALUABLE FOR THE ADMINISTRATION
AND JUST BECAUSE HE'S NOT IN
LINE WITH WHAT THE PRESIDENT'S
DECISION IS THIS TIME.
DOESN'T MEAN HE DOESN'T PROVIDE
A HUGE INVALUABLE SERVICE
TALKING WITH THE PRESIDENT.
I THINK THAT'S TRUE OF ANY
ADVISOR.
IF YOU SIT THERE AND TELL PEOPLE
THEY'VE GOT TO TOW THE LINE ON
ADVICE TO YOU.
YOU'VE LOST ALL OF THE
ADVANTAGES OF HAVING A ADVISOR.
YOU WANT ADVISORS THAT SAY WHAT
THEY THINK AND --
ONCE YOU MAKE THE DECISION THEY
GO ALONG WITH WITH YOU.
BUT THAT DOESN'T MEAN THEY HAVE
TO AGREE WITH WITH YOU --
THAT'S NOT GOODS.
BUT YOU SAID ONCE YOU'VE MADE
DECISION AS COMMANDER IN CHIEF
YOU WOULD HOPE THEY WOULD COME
ONBOARD APPARENTLY A LINE IN THE
SAND THAT EVERYONE THOUGHT
EVENTUALLY WOILD HAPPEN.
REAL QUICK BEFORE I GO TO
QUESTIONS ON TARIFFS THEMSELVES,
YOUR NAME IS POPPED UP A LOT IN
THE LAST OVERNIGHT.
WOULD YOU CONSIDER TAKING THE
JOB --
IF IT WAS OFFERED?
>> COME ON I'M 78 AN HAD MY DAY
IN THE WHITE HOUSE AND I HAVE
RONALD REAGAN AND I LOVED IT.
IT WAS GREAT AND THERE IS NO
ENCORE AFTER REAGAN I LOVE
WORKING WITH STEVE MOORE AND
LARRY REI ON ALL OF THIS STUFF
IT IS SUPERFUN FOR ME.
BUT I'M NOT ANY WAY SHAPE OR
FORM GOING TO DO ANYTHING IN THE
ADMINISTRATION PERIOD.
>> YOU KNOW CAN'T BLAME ME
BECAUSE YOU WITH LOOK 20 YEARS
YOUNGER.
YOU LOOK LIKING YOU'RE FIT FOR
THE GIG THAT'S ALL I'M SAYING.
>> FLATTERY WILL GET YOU 30
YEARS YNGER.
[LAUGHTER]
BY THE WAY.
PRESIDENT TRUMP TWEETING THIS ON
THE TARIFFS TOIPGHT SHARE WITH
YOU IN THE AUDIENCE FROM BUSH
ONE TO PRESIDENT OF OUR COUNTRY
HAS LOST MORE THAN 55,000
TEARKTS 6 MILLION MANUFACTURING
JOBS ACCUMULATED DEFT OF 12,000
AND YESTERDAY A DEFICIT OF 800
BILLION BAD POLICY AND
LEADERSHIP, MUST WIN AGAIN.
NOW YOU'VE MINCED LARRY
RUMOREDDED TO GET THE JOB BUT
HE'S AGAINST TARIFF AND VOICED
ON SIS OPPOSITION AGAINST THEM
LOUDLY AND WHAT IS YOUR VIEW AND
OBVIOUS UNBALANCED RELATIONSHIP
WE HAVE WITH THE REST OF THE
WORLD?
>> SEE, I LOVE THE THING THAT
THE PRESIDENT SAID FROM BUSH ONE
TO NOW.
THAT'S A PERFECT EXAMPLE OF BAD
POLICIES FROM BUSH ONE TO
THOUSAND.
HE DIDN'T GO BACK TO REAGAN
BECAUSE WE SOLVE TRADE PROBLEM
BY ECONOMIC GROWTH AND ENORMOUS
INCREASE IN THE TRADE DEFENDANT
CHARLES, AND ENORMOUS INCREASE
NOW WHY DO I SAY THAT'S GOOD?
BECAUSE THE --
TRADE SURPLUS IS THE --
TRADE DEFICIT IS THE CAPITAL
SURPLUS.
EVERY ONE OF THE FOREIGNERS
TRIED TO INVEST IN THE UNITED
STATES AND THE ONLY WAY THEY CAN
GENERATE THE DOLLAR CASH FLOW
CHARLES IS BY SELLING MORE GOODS
TO US AND LESS GOODS FROM US.
REMEMBER, CAPITAL IMPORTS ARE
THE OPPOSITE OF THE TRADE
DEFICIT.
IF YOU HAVE A TRADE STEFT YOU
CAN'T HAVE CAPITAL IMPORTS
WITHOUT A TRADE DEFICIT PERIOD
IT IS NOT THEORY OR IDEOLOGY BUT
TRADE DEFICIT IS WONDERFUL FOR
US.
NOW THAT DOESN'T MEAN THAT TRADE
DEALS AREN'T BAD.
THEY MAY WELL BE BAD AND I THINK
TRUCH IS PERFECTLY CORRECT IN
GOING AFTER NAFTA THEY'RE VERY
BAD DEALS.
BUT THE TRADE DEFICIT IS NOT THE
PROBLEM.
>> SOME PEOPLE ARE CONCERNED
WITH OUR WEALTH GOES OUT OF THIS
COUNTRY AND THEN COMES BACK IN
AND FORM OF FOREIGN OWNERSHIP OF
THE VERY COMPANIES THAT ARE
BEING PUT OUT OF O BUSINESS SOME
PEOPLE WOULD SEE IT DIFFERENTLY
SIR.
>> I DON'T THINK SO.
I DON'T THINK --
YOU WANT TO BE ABLE L TO HAVE
CAPITAL OWNERSHIP ALL OVER.
WE OWN O COMPANIES IN EUROPE
THEY OWN COMPANIES HERE.
THAT'S NOT A PROBLEM.
>> NOT A PROBLEM BUT I THINK
IDEAS OF WRIEWZING OUR MONEY TO
BUY OUR COMEAN MAYBE IT'S --
BUT THEY'RE GIVEING ME THE --
>> THEY GIVE US THE MONEY TO
BUILD NEW FACTORIES THAT'S WHY
TENNESSEE IS FULL OF FOREIGN OIL
COMPANIES.
>> ALL RIGHT BUDDY.
GOING BRING YOU BACK REAL SOON.
I LOVE THIS CONVERSATION.
>> AND --