Fiction Peddlers Relieved By Trump Victory
The recovery was an illusion, created by academia, politicians, and Wall Street firms who have used this myth to rake in more profits. The results of the 2016 election were shocking, but not because Trump won, in our opinion, but the fact that jobless Millennials and inner-city voters, despite living under horrible individual economic conditions, still overwhelmingly voted for the establishment candidate.
Like trained dogs, or a person who suffers from Stockholm syndrome, the victims continued to identify with their attacker. I am not talking about Hillary Clinton or Barack Obama – I am referring to the entire establishment they represent, along with Bush and both of our two major parties.
It’s the same establishment who has wreaked havoc on our economy for the last 20+ years. The biggest unknown for 2017 will be how the markets and the current crony capitalist system will respond to a President of the U.S. that doesn’t want to play ball.
My knee-jerk reaction is that they will throw a tantrum, and this entire bubble could all explode in early 2017.
However, with a crony capitalist congress still fully intact, perhaps the establishment just rolls with the voters and uses the tax cuts that are coming to further enrich themselves and buy themselves some more time to let the good times roll.
One thing that hasn’t changed is the unsustainable condition the U.S. economy and government is in today. The U.S. will surpass $20 trillion of debt in the first quarter of 2017. Western governments are bankrupt, with hundreds of trillions in unfunded liabilities and a widespread pension problem that will peak during Trump’s first term in office with a wave of baby boomers retiring.
As a father of 3 small children (2yr, 5yr, and 7yr), I certainly won’t be depending on the government or any president to help my personal economy. And neither should you. Getting the government’s house in order is truly out of our control, but making sure your own household is prepared for prosperity is always staring at you in the mirror.
In uncertain times like these, always remember that!