Episode 103: Post-US Election Economics with David Pickler
Summary
The 2024 US Election was a WILD RIDE! With voters using their pocket book to decide a second Trump White House, what about the rest of the economy? In today's episode I welcome back Financial Advisor David Pickler to talk about tariffs, inflation, interest rates, social security, and how all of this will impact not only the US but in Canada. David does a deep dive on the US election and the economy's reaction to the incoming new government, while delivering a simple message: not changing is not an option.
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This Week’s Blog Post:
The Election Outcome
The post-election landscape has certainly been a rollercoaster, and the reaction to Donald Trump's re-election was far from what many expected. There were fears that the results would be delayed, leading to uncertainty, but instead, the outcome was clear and decisive by the night of the election. The results highlighted not just Trump's political strength but also his ability to appeal to a wide, diverse coalition—something that reshaped the traditional political landscape. It was a reminder that, sometimes, politics can surprise us, especially when the power of populism plays a key role in the victory.
The Changing Political Parties
One of the more fascinating aspects of the election results was how both the Democratic and Republican parties have evolved. The Democratic Party, once associated with working-class and labor interests, now seems to lean more toward cultural elites. In contrast, the Republican Party under Donald Trump has gained significant traction among working-class voters, minorities, and those who feel left behind by the current political system. While Trump may not fit the traditional conservative mold, his populist approach has revitalized a new form of conservatism that draws parallels to the Reagan era, offering a different path for American politics moving forward.
Economic Changes on the Horizon
As we look ahead to Trump's second term, one of the most pressing concerns is how his policies will impact the economy. His proposals to reduce corporate taxes, cut capital gains taxes, and roll back regulations could have a significant effect on the business environment. These changes would aim to reduce the burden on corporations and individuals, making it easier for businesses to grow and for investors to keep more of their earnings. For landlords and real estate investors, these tax cuts and regulatory rollbacks could provide an environment where cash flow is more robust and opportunities for growth are more attainable.
Looking to the Future
David's biggest concern for the future lies in the sustainability of the current economic model. With national debt growing and social safety nets like Social Security and Medicare facing potential bankruptcy, there are critical issues that need addressing. The biggest question is whether the government will use its political mandate effectively to make the necessary changes. While there is hope that the current administration can bring balance to the economy, we must all remain engaged in the political process to ensure that the right decisions are made. As David reminds us, we live in one of the greatest countries in the world, but it’s up to each of us to stay involved and work toward a more sustainable future.