Cutting Off Your Nose to Spite My Face…Again
Let’s face facts.
If you have a significant amount of money invested in the stock market, the chances are that, no matter how much you might hate Donald Trump, you are secretly very happy with how the stock market has performed on his watch.
If you don’t have any money invested in the market, well, you might not be so happy with Donald Trump, especially if you took a hit on your income taxes last year.
The surging stock market causes me grief…actual physical grief…because I want the stock market to take a dump in order to disaffect as many people as possible from Trump on the basis of their pocketbook issues.
This puts me in the horrible position of finding myself rooting against the home team.
(Disclaimer: A long, long time ago, I was a bond analyst for the venerable investment firm of Thompson McKinnon. I have also made – and lost – a lot of money in the stock market. I no longer play with stocks. Once burnt, twice shy. Burnt three times….c’est la vie and, for that matter, c’est dommage!)
I haven’t felt this badly since the summer of 1968, when I was pining away at my desk at Thompson McKinnon while all my friends were getting tear gassed at the Democratic National Convention in Chicago. Those were the days.
Now, every time I happen to notice that the market has put in another high during a bull rush, I mourn for what this means for the Democratic party’s hopes in 2020.
If you believe, as I do, that the future of this country – and perhaps the planet – depends upon removing Donald Trump’s fat ass from the Oval Office and sitting his junk down in a prison cell, preferably at the Guantanamo Bay branch of Club Fed, then you have to be wishing for the mother of all stock market crashes.
Isn’t that nuts? Hoping for a huge reversal in the market to wake people up to the reality of Donald Trump’s inability to rule wisely?
But this is where we are at right now.
Americans -just like everyone else – vote their pocketbooks. You may not want to believe that because neither you nor any of your friends want Trump around, regardless of how your retirement portfolio looks right now. Right?
Unfortunately, more than 54 percent of all American FAMILIES are invested in the market, according to a 2017 Gallop Poll, reported in this Politifact California article. With an adult population of around 248 million in 2010, this indicates that there’s a potential voting block of around 124 million Americans who have benefited at least to some extent by the rise in the value of the stock market.
This group represents the largest single voting block in the history of the United States…and I think it is safe to say that the majority of those shareholders in America, Incorporated will vote for whomever promises to keep the markets rolling along while also promising not to tax their winnings as if they were regular income, which is the single biggest tax dodge in the IRS code.
Look at it this way: Together, Clinton and Trump gathered 128 million votes in 2016.
We all know that the popular vote doesn’t matter in presidential elections. We also know that the 2016 election was swung by less than 107,000 votes by giving Trump the win in Michigan, Pennsylvania, and Wisconsin.
If the stock market continues to surge over the next 15 months, Trump may be renewed for a second four years, like being forced to take out a book that you borrowed from the library once before and being forced to read it again, even though you hated every minute of the first reading.
That thought depresses the hell out of me.
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