No. of Recommendations: 6
"Funny part is, this helps the very people who mostly can't stand Trump :)"
I am taken aback when I reflect a little on the Trump years. I retired in 2018, had
done some reading on sequence of returns risk, and for whatever reason, I was steadfast
in the belief that if there was any type of disaster, Trump would bungle the handling
of it. So I stayed heavy out of equities, even though wasn't earning squat in safe
fixed income. And then came covid. And Trump ham-fisted bungled the handling of covid
terribly. And I started going heavily into equities, because the lesson I learned in the GFC was that the government was going to do all it could to protect the wealthy and their
assets. A good friend later told me that he had contemplated having an intervention for me, as they were afraid I'd lost my mind and was going to lose everything,lol. But that's exactly what happened, Government to the rescue, of the wealthy anyways.
In Trump's 2nd term, I derisked from equities early, went down to 50% equity and
50% safe-fixed. I did not have the same conviction that equities would bounce back
from Trump's Tariff-Taxes as I did that equities would bounce back from the Government
throwing everything in it's power to save the assets of the wealthy as in covid.
So I left some money on the table. But net worth ( nominally, not inflation adjusted )
is by far the highest it's ever been. And I despise Trump and almost everything
he does. Trump's base is getting hurt the worst, they just can't seem to see it, yet.
So the Trump inflicted beatins need to continue until the base feels it. Farmers
sure seem to be doing a lot of yelping, and they will almost certainly get bailed out
again, just like in Trump's 1st term. The average hardcore, belligerent, bellicose
MAGA member ain't in the favored class, though, so they are the ones that need to feel
his policy effects on their pocketbook. Not holding my breath for them to wake
up anytime soon, though.
