“The U.S. dollar is losing ground against major currencies in the wake of President Donald Trump’s inauguration.
“President Trump’s inaugural address has been interpreted as a retreat from America’s global leadership role,” said Paul Donovan, global chief economist at UBS Wealth Management.
“The vehemence in his address is causing markets to reassess other parts of the campaign rhetoric as it seems candidate Trump is occupying the Oval Office with little moderation of tone.””
See Premarket: 4 things to know before the bell – Jan. 23, 2017Folks were thinking, “He can’t be this crazy, can he?” previously but here we are at inauguration day and Trump is as crazy as ever. So, the optimism brought on by empty promises is being replaced with the reality that Trump is a bull in the china shop. That’s no way to get new china. It’s certainly not likely to be good for the economy of USA or the world where people are investing their hard-earned money into already risky businesses. A business can be wrecked just by the words of this demagogue. That’s no way to run a government and it’s not good for business.
Trump is serious about wrecking the world’s trading system. After all, his business largely doesn’t import or export, so what does he care? Here is the first evidence of a critical conflict of interest. While he’s actively sabotaging world trade and global businesses, he’s more concerned that the press report extravagant claims about attendance at his inauguration than dealing with important issues, like running the government.
Got a 401K? Does it depend on trade? Expect to lose. Got a job? Does it depend on trade? Expect to lose. Buy stuff? Is it imported? Expect to lose. Sell stuff? Is it exported? Expect to lose. So, because Trump has verbal diarrhea, can’t maintain a coherent thought, can’t do maths and thinks the end justifies the means just like an economic terrorist, you lose. Glad you voted for him still? Enjoy it until you lose.
Six months ago, I took steps to steer my pension annuity away from business that buys and sells and moved to stuff people want when the “end times” are nigh, gold. I’m doing fine. Are you? Chuckle. Despite knowing how bad things can get with Trump at the helm, I’m going to enjoy the short-term benefits of chaos while I can. I could put down a deposit on my little red electric car this week… and pay for it, cash, with the profits in my accounts. I’m going to live the good life despite Trump. It sure does help not being in USA, but I’m still too damned close, being on the same planet.