In a break from the monotonous political horseshit questions levied at Trump, CNBC did a good job in an interview this morning– getting Trump to discuss business and how he’d approach managing the U.S. economy. I’ll try to get the video up later when available. In the interim, here are some of my notes.

He thinks Yellen is great, but she’s a goner. He’d probably replace her. He does, however, like low interest rates. Moreover, he feels a rise in the interest rates would have a disastrous effect on the U.S. economy. I’ve been saying this for 5 years. He noted how it would be nonsensical and deleterious to the management of our soon to be $21 trillion debt load to have it at higher rates. The lower the better. And he favors a weak dollar policy.

In regard to the debt, he fashioned himself ‘The King of Debt’. He thinks we should refinance the national debt at longer durations. In other words, buy back the short term paper and finance long term. People like Jim Cramer have been begging the treasury to do this for years. I recall when he had Tim Geithner on Mad Money a few years ago and asked him to do that. Timmy, basically, laughed at Jim and made him look stupid.

Trump wants to use some of the savings realized on debt refinancings for infrastructure spending. He cited our schools, tunnels, bridges and airports as being unsafe and disgraceful. Furthermore, he said he’d be the single best person in the history of the White House to rout out the corruption in the bidding process, since he knows all the tricks of the trade. No more 30 year highway jobs.

Obamacare is a horrible mistake, according to Trump. Both premiums and deductibles will skyrocket in 2017 and it needs to be replaced. He noted how ‘almost no one’ benefits from it.

Lastly, and without question my favorite part, Trump mentioned how in Iraq we’d build a school, only to see it blown up. We’d rebuild it and it’d get blown up again. We’d build it 4 times; meanwhile, if a school was needed in Brooklyn or Oklahoma we wouldn’t have the money for it. He described this mishandling of the treasury, this gigantic fraud, as being criminal. We’ve spent upwards of $4 trillion in the middle east since the beginning of the Iraq war, and have nothing to show for it.

In summary, Trump wants low rates, refinanced debt, big infrastructure spending, weak dollar, better trade deals (NAFTA is going away) and he will repeal Obamacare.

Update:

Here is part of it.



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