The financial commentariat and the robo-machines are all in a tizzy because Gary Cohn up and quit. But we say good riddance: The man gave Trump bad advice on nearly every single issue—trade, taxes, fiscal policy, and the Fed.

We didn’t make any bones about that viewpoint during our appearance on Fox Business this AM. When Maria Bartiromo asked us about Cohn’s departure, our reply was: Hallelujah, the Goldman Sachs Regency in the White House is finally over!

The fact is, we do have a trade crisis, but Gary Cohn and the Wall Street pseudo-free traders don’t care and never have. That’s because they fiercely support a perverted, self-serving monetary regime that systematically and massively inflates financial assets, even as it strip mines and deflates the main street economy.

As we have been pointing out in this series, there is a perverse symbiosis between the Fed and the Dirty Float central banks of the 10 major countries (China, Vietnam, Mexico, Japan, etc), which account for 90% of the nation’s $810 billion trade deficit (2017). Together they have ripped the guts out of the US industrial economy—effectively sending jobs and production abroad and cash flow and liquidated capital to Wall Street.

For its part, the Fed has monkey-hammered US competitiveness. That’s the result of its insensible 2.00% inflation policy, which has fatally inflated nominal dollar wages in a world market drowning in cheap labor priced in artificially under-valued currencies.

At the same time, its massive interest rate repression and price-keeping operations in the stock market have turned the C-suites of corporate America into financial engineering joints. So doing, they have slashed real net business investment by nearly 3o% since the turn of the century, by 20% from the 2007 pre-crisis peak and, actually, to a level in 2016 that barely exceeded real net investment two decades earlier in 1997.

Meanwhile, the C-suites shuttled upwards of $15 trillion of cash flow and debt capacity during the last decade alone into stock buybacks, vanity M&A deals and excess dividends and recaps. As we said in today’s Fox interview, America’s business leaders will not stop strip-mining their companies in order to juice Wall Street and goose their own stock options until they are taken to the woodshed by a stern task-master at the Fed.

By that, we mean a central bank that is willing to get out of the financial asset price propping and pegging business, and to thereby permit the kind of stock market collapse that would finally expose the folly of corporate America’s endless financial engineering. Indeed, at this point, nothing else will stop them except being run out of their jobs for massive dissipation of corporate resources and piling their balance sheets high with unproductive debt.