Tuesday, November 15, 2016

Tim Price On The Implications
Of The U.S. Elections On Investing
Of Investing After The U.S. Elections
Millennials Appear To Be 
Pushing The Socialism Agenda
"We’ll have to wait until the U.S. more conclusively experiences ‘Soft Trump’ or ‘Hard Trump’ before assessing the prospects for specific equity market sectors or for the dollar. But it’s plausible to anticipate not so much 'global disaster' as a potentially huge U.S. reflationary stimulus from lower taxes and higher infrastructure and defense spending. Good for stocks, bad for bonds would seem to be a crude but fair summation. Our strong preference for real assets over paper ones remains absolutely unchanged. The status of global trade is clearly something of a wild card. But is a Trump victory any more dangerous for Europe than, say, the continued existence of the EU? We favor Asia, more especially Japan and Vietnam, in any case, not least on the back of compelling valuations (as opposed to secular stagnation in the euro zone) .. For believers in free markets, small government and the primacy of the entrepreneur over the State, there may yet be much to celebrate about President Trump. But not for millennials, obviously. Their perpetual tin ear turned to reality and what can only be described as hysterical grief, in every sense of the word, is reason enough for the rest of us to be quietly encouraged about the future. Educators – in economics and history in particular – have a lot to answer for, having perverted the mindset of a generation. As the U.S. economist Thomas Sowell once said, 'Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.' .. Say what you like about Donald Trump, but he isn’t a socialist."
LINK HERE to the commentary

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