2016 Presidential Election: Words of Condolence - Jay L. Gershman
For those waking up this morning to their worst nightmare, I offer some thoughts of comfort and encouragement.
- To make yourself feel better, watch the movie “Being There”. In the film Peter Sellers plays a simple-minded gardener who rises to national political prominence when his simple utterances are misinterpreted as profound ideas and brilliant policy by an American people yearning for leadership.
While Donald Trump has no political experience or practical knowledge of how our Government operates, the American people yearn for someone who can magically change the current course.
- Expect to wake up to a photo of our next president relaxing in a hot tub with Vladimir Putin.
Is it so bad that we keep our friends close and our enemies closer?
- Expect to see a review of Obamacare and other Obama initiatives.
While Trump may not have the power to single handedly pass legislation, he does have the power to appoint new heads of major sectors such as Health and Human Services and the Securities and Exchange Commission. Is it so bad if we see a “less is more” attitude from our bureaucrats in Washington?
- Do not fear the radical change that you’ve been told will happen regarding social issues.
In reality the composition of the legislative bodies, Congress and the Senate, remain unchanged. To pass federal legislation you need cooperation, and that isn’t likely to happen.
- Do not fear economic fallout.
Once again, the global economic system has many checks and balances. As a potentially “strong negotiator” he will eventually recognize that moving too quickly with opinions not based on sound facts is not wise and too risky.
- Don’t fear the country is turning Conservative.
Marijuana was the second biggest winner last night.
- Don’t fear Vice President Pence.
Known to be a strong Conservative, the Indiana governor is not shy about his beliefs on abortion and other women’s rights; but who was the last Vice President that got anything done?
- Don’t expect immigration laws to change soon.
While many of Trump’s most radical comments have concerned immigration, it is not likely that change can occur overnight and without significant discussion. On a positive note, Americans should expect him to work to implement measures to prevent the lapses that have occurred allowing people seeking to harm us to remain in this country undetected.
- Expect a windfall of Corporate Taxes.
Prior to the election both candidates had agreed to a reduced tax on corporate earnings from overseas operations that were brought back to the U.S. This can have two benefits; a windfall one time tax collection, and money can now be used to hire employees or purchase goods.
- Expect the unexpected.
Not all surprises are bad. Be optimistic that your worst fears may be unfounded and that positive change is possible.
Jay L. Gershman is a social Liberal and fiscal Conservative who will find a way to back elected officials who seek common sense solutions to age old problems.
Jay L. Gershman is an Accredited Investment Fiduciary, and a Registered Life Planner. This material was prepared by the author, and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note investing involves risk, and past performance is no guarantee of future results. Jay L. Gershman is a Registered Representative of Securities Service Network, Inc. Member FINRA/SIPC. Advisory Services offered through SSN Advisory, Inc. Registered Investment Advisor.