Greetings! I trust that this will find you well and enjoying life!
Speaking of enjoying life, so so much hype around the election. I feel like I’m being taken advantage of by the media, how about you?
I’m often asked my opinion on how either a republican or democratic winner will affect the country’s economic future. It’s pretty safe to say that another democratic administration will lead to a very similar economic environment and conditions that we currently experience, so there you have it. If we are content with the status quo, we put another democrat in office.
One of the hallmarks and great institutions in America is capitalism. For many decades we lead the world in it and introduced it to developing economies, which is leading to advanced quality of life in those countries let there be no mistake. With quality job development (manufacturing) on the decline in America, ever increasing personal and corporate tax rates, companies leaving America right and left and national debt that threatens national security; we need a different perspective and focus on capitalism. Since our founding it has been a big component of the American dream. It has been under attack with the current administration. The advancement of capitalism from the start up smallest one man company to the mega companies that comprise the S&P500 is a huge part of America’s strength.
Investment markets love certainty so it’s likely there will be some volatility surrounding the election. And external forces such as an over zealous FED, a terrorist attack or irresponsible lending practices will have a short term effect. Over the long term they are because of capitalism cyclical in nature, which ultimately rule their behavior.
In the era we live in involving global economy and the advancement of capitalism around the world, even in communist and socialist countries; I think it would be very interesting to see what a focus on capitalism and leadership under a capitalist focused administration would do for America. It seems to me that we have treated our friend capitalism poorly for the last eight years and even relinquished much of our clout as a global leader in it.
If you have any questions about the above or any questions related to retirement, don’t hesitate to contact us.
Jeff Christian CFP, CRPC