It appears that America's long and treasured history of allowing poorly-paid academic abacus jockeys in dandruff-dusted discount suits dictate our economic policy has come to an end:
President Donald Trump has offered a simple explanation for his wealthy Cabinet choices: Rich people know how to manage money better than poor people do.
In a rambling aside at a rally in Iowa on Wednesday night, Trump responded to criticism about his choices for top economic jobs, including billionaire investor Wilbur Ross for Commerce secretary and former Goldman Sachs President Gary Cohn for chief economic advisor.
And when CNBC says "rambling," hoo boy. While explaining to Iowans why Big Grundle, Stevie Warlock and The Slipper King are the people at the top of our economic decision pyramid, President Trump held one of his patented one-way congratulatory conversations about letting traders, hedge funds managers and distresses asset investors take a turn running the economy:
So, somebody said, 'Why did you appoint a rich person to be in charge of the economy?' … I said, 'because that's the kind of thinking we want.' I mean, you know, really. Because they're representing the country. They don't want the money. They're representing the country and they had to give up a lot to take these jobs. They gave up a lot. And you get the president — this is the president of Goldman Sachs. Smart. Having him represent us. He went from massive paydays to peanuts, to little tiny — I'm waiting for them to accuse him of wanting that little amount of money. They wanted that. But these are people that are great, brilliant business minds. And that's what we need, that's what we have so the world doesn't take. … We can't have the world taking advantage of us anymore. And I love all people, rich or poor. But in those particular positions, I just don't want a poor person. Does that make sense? Does that make sense? If you insist, I'll do it. But I like it better this way, right?
"RIGHT!" yelled Steve Schwarzman, watching from home.