Today’s Election in Context w/ our Economy – David Richardson
Donald Trump’s Presidential victory early this morning continues recent countries sway towards populist and more nationalistic governments. When we perceive disorder from immigration policies and overseas conflicts, our natural tendencies are to be more cautious of opening up more to the world (i.e. trade policies, international agreements, immigration, etc.). This is normal and to be expected.
Instead of our normal astonishment, let’s place this morning’s Presidential victory in greater context:
America is much greater than any one President. We have immensely strong institutions with many checks and balances. America’s economy, which directly affects the Stock Market, is based on our businesses—not the government. America has the most creative, innovative, and diverse economy of the world—the world envies our amazing productive capability.
And America has had the best developed economy since the 2008 Great Recession.
America’s government—including Trump—knows our businesses are our Golden Goose. Our tax revenue, jobs, standard-of-living, and energy come from our businesses—therefore, it’s in our government’s best interest to foster our businesses. Even now, it would be very unwise to bet against America—always has been.
In just our recent history, our economy has persevered through the Brexit vote, the Fiscal Cliff ordeal, the Debt Ceiling debacle, and the worst Financial Crisis since 1930. Through all of these recent setbacks, the US Stock Market—after receding—moved upwardly again. However, because Trump is somewhat an unknown variable to the world, we do expect Markets to be volatile for a period of time but they will rise again. Also, since the Republican Party retained control of Congress, the potential of meaningful legislative change has greatly increased. Tax Reform—including Repatriation of Foreign Profits—and ObamaCare improvements are greatly needed. Should any bill make it through both the House and Senate, it’s likely to be fairly moderate and appropriate.
David Richardson | eventsfy.com | Local Events of the Arts
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