“The Stuff You Won’t Hear Anywhere Else”
Economic’s 2017 = The World According to Me
So 2016 is coming to a close, and what a year it has been…politically that is , economically it has been pretty boring, not much to praise, but the outlook look’s promising. Let me tell you why.
As a financial planner for the last thirty years and a student of economics we can reasonably predict how the economy will grow with the economic policies put in place by our Government. Another words are our leaders putting the interests of our country and it’s people first and foremost or are they putting their ideology first, regardless if it’s in our benefit or not? Let’s look back before we look forward.
Let me say this I am not looking at the economy either from the right or left point of view, I am looking at it from an objective economic analysis point of view and my excellent ability to interpet it. Ok lets start, Eight years ago when Barak Obama took office he ran on a platform of “Hope and Change”. Eight years later we have a lot of change, but not a lot of hope! Our economic growth has been the lowest on record, in my opinion this was due to the amount of massive regulations his administration has imposed on American Businesses and the people, with political correctness run amok.
In my opinion President Obama has put the rest of the world especially the interest of the Arab Nations first, while using a European Model for our economy, which has set Europe into a tailspin, and on the verge of collapse. It does not work! Socialism is a disease not an antidote! Cowtowing to the rest of the world does not strengthen our economy, it makes us look weak and inept and at this moment we are! That is the plain truth, like it or not! His administration adding eleven Trillion dollars to the national debt has put us at the mercy of China, Japan and Russia who own a substantial amount of that debt, and because of that fact they think they can dictate policy to us about us….Whew that was a rant.
Each and every American wants our President to be successful, wants our economy to grow, wants a nice and easy life to live, and not worry about making ends meat, do you agree? Let me say that first of all it all starts with you, get educated, stay in or go back to school, go to college and learn…learn..learn….build a better mouse trap, there are no excuses in bettering yourself. President Elect Tump became a billionaire not built on laziness, or luck, it was built on education, desire and drive and a whole lot of courage to face the unknown…head on. Like him or not you have to acknowledge what he has accomplished in his life time. Can he transform his experience in business to the next level and run a country, a country with the largest economy in the world?
Let’s analyze what it looks like some of his policies will be. He wants to do away with Obamacare. As Americans we are forced to carry and pay for health insurance, a good thing or not, you decide, but premiums have more than doubled since the Affordable Care Act has been implemented, it is NOT affordable, and we are mandated by law to carry it, or pay a fine , seems to me its more Un American to force people to do something they may not want to do, Seems like socialism creeping into the picture. President Trump answer to this seems to be adding health savings accounts, making healthcare available across state lines which will add competition and should bring down the cost of insurance premiums, theoretically.
President Trump wants to do way with thousands of regulations which has stifled business growth over the last eight years, including lifting moratoriums of drilling for oil and natural gas on Federal Lands. Alright don’t get crazy with this, it is a good thing and I will tell you why. As I have written before the Opec Cartel is a colluding organized crime family that wants to control the worlds economy by deciding the output of the production of crude oil. Like it or not oil is the basis of how our economy runs, our transportation system, runs on gasoline, in parts of our country it is how homes are heated in the wintertime, until engineers can come up with an economically feasible alternative it’s what we got. Electric cars with a range of two hundred eighty miles on a full charge at a cost of seventy five grand a pop is not the answer. With all the new technology being developed every day you would think they can fix the problem, or maybe they don’t want to!
President Elect Trump also wants to lower the corporate and individual income tax brackets, and add tariffs to imported goods coming into our country. Lowering the corporate tax rate will entice companies to expand and hire new employees and if the companies stay in America give our American citizens jobs..jobs..jobs.That’s an economically sound policy, anyway who doesn’t want to keep more of the money they earn, hey if you think we are under taxed and want to pay more you can. Just give the IRS a bigger check when you pay your income taxes, thats legal, all you Hollywood types should step up and practice what you preach, be the rule not the exception, like that would ever happen. Adding Tariffs, well we pay a tariff to every country we export to, but foreign companies pay nothing when they import their goods to our country, does that seem fair to you? We will be doing to them what they do to us, thats how you level the playing field make it fair to everyone involved. It will also add to the income we receive as a country, to offset the lower income tax we will have to pay, and keep businesses in America, putting the interest of our country and it’s people first.
Those are just a few of the proposed policies of the incoming administration, mathematically and economically it makes sense. Remember our economy is made up of so many facets that interlock with each other, we have to learn from our mistakes of the past on how to proceed in the future. Mathematically we can figure thing out to the millimeter, have sound theory’s, but our lives go forward on emotion, this election was an emotional election and we are still feeling the impact of it. We need to find middle ground for the two to exist, our country needs change from the change we have had for the last eight years, while I don’t trust any politician it seems our economic fate is in President Trump’s hands now, let’s hope he does what he’s says and our country can be as successful as his business is, and we can all reap the rewards of success one way or another.