In my older age, I have mellowed some in my perspective and expressed opinions about most areas of politics. If you think I exaggerate, you should have heard me in my younger years.
The verbal rockets still being fired following the (legal or illegal) election of President Trump really are amazing. This scenario is not necessarily new. We have perhaps had more calm in the past couple of decades, especially following the late 1960’s and early 1970’s. Young people became so disillusioned that they firebombed and otherwise damaged major university campus buildings in protest of the Viet Nam war.
I just read a character sketch of President Thomas Jefferson, his life and Presidency, while on vacation. It was written by various authors during the late 1800’s. Jefferson is still regarded as being the Father of the Democratic Party. (Humorously to me, during the earliest years of the 19th Century, it was called the Republican Party.
Jefferson received vicious verbal abuse from Federalists when he finally won the presidential election by vote of the House of Representatives. After all, he defeated President John Adams before he could serve a second term. The party lines were still being formed and hardened.
But Jefferson refused to engage in any of his follower’s or enemies’ rancor. Later, he and Adams even became quite close again. They died on the same day, July 4, 1826, 50 years to the day after the official Declaration of Independence was substantially approved.
Facebook provides posts of people almost out of their minds regarding the new administration. They can apparently see nothing brighter than the soon-to-be end of the civilized world. Hank Blaustein, illustrator for Grant’s Interest Rate Observer, recently published a cartoon in which a New York wife asks her husband at the dinner table, How can you eat when that man is President? (www.grantspub.com)
I have expressed before in this space that whether you like the current President or not, life in these United States goes on. All of us get up day after day and help each other obtain our needs and wants. Sometimes it is easier and sometimes harder to do that. This is a great and strong economic system.
With respect to financial markets, many have been shocked by the continuation of the bullish trend that began last February after its 6 months drop. Justin Wolfers of Brookings Institution and Jonathan Golub of RBC Capital Markets both expected at least a 10% decline for stocks. (www.businessinsider.com/donald-trump-election-victory-defying-doomsday-predictions-2016-11)
The main reason investors are more willing to put their money where their optimism is? Business might not be so readily beaten about the head and shoulders for unashamedly seeking to make a profit by serving those needs and wants. Also, interest rates are rising and Mr. Average Citizen knew quite well that zero interest rates as a program was illogical and has not trusted it.
Having said all that, there will be hiccups and seismic events still occurring. Those are guaranteed. If George Soros is still funding protestors, the malaise could last a long time. George made his $25 Billion from political instability. He loves to bet that markets somewhere will drop like a rock so he can profit. My advice? Keep your eyes on George.
(Past performance is no guarantee of future results. Advice is intended to be general in nature.)