The Prudent Retiree - November 2016
“Elections Have Consequences.”
Wow. Unbelievable. Shocking. Extraordinary. Donald Trump is the 45th President of the United States. Many are thrilled. Others are terrified. Prudent Retiree believes it is critical to remember that business and the markets carry on. Due to uncertainty, there may be volatility. This is not, however, a harbinger of economic chaos.
Eight years ago, Barack Obama won an historic election. We received many worried calls about an imminent collapse. That didn’t happen. Prudent Retiree has already begun to receive those calls. Investors need to look past immediate fears just as they did eight years ago.
President Obama told us that elections have consequences. He was and still is right. Mr. Trump in his victory speech did not call for the building of a wall, but instead for the building of infrastructure. Let’s take that as a positive sign for economic growth and jobs. Something all sides can agree on.
The Russians and James Comey did not elect Donald Trump. The American people did. James Carville, a key figure in President Clinton’s 1992 election, famously said, “It’s the economy, stupid” to keep the Clinton team focused. Mr. Trump’s victory and how it came to pass is the American people loudly saying it’s the economy. We want jobs and raises. Let’s hope that Washington will listen.
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