President Trump’s job approval rating is the highest it’s been in this two year stretch. 48% approve of the job Trump is doing; on top of that, a record 62% like his approach to employment and 59% are fans of his handling of the economy.
I remember that when he was just elected, people thought he was mad and that he would fail to revive the economy with his direct attitude and protectionist strategy. Americans love results and only approve of presidents in hindsight. I’ve come to the conclusion that the average American is such a sheep at this point, that he doesn’t think anymore. He only regurgitates what he hears from the mainstream media.
Right now, the news is saying that Trump’s trade war with China and Mexico is bound to lead to a recession, so Americans are against it. In fact, only 37% of Americans approve of Trump’s trade policies, while 43% of Americans disapprove. If this strategy works, down the road, they will flip their opinion on a dime.
In Q1 of this year, markets rallied hard; it was the best quarter in decades and an incredible opening for the year.
Now, the markets are plummeting and are struggling to stay afloat. This volatility is caused mainly because it’s extremely difficult to price the future when it is this uncertain.
The big question marks hanging over the heads of China and the U.S. make it so that capital is flowing out of risk and into bonds.
Governments are still considered to be far safer than stocks in the short-term, despite their astronomical deficits and unsustainable social obligations.
As you can see, investors have been SELLING stocks and buying safe havens for months. Even when the stock market was hitting new highs every day, greed did not set in.
What’s most alarming, though, is that Americans do not truly realize that how the S&P 500 is performing is of less significance to their livelihood than how competitive the U.S. economy remains, compared with the rest of the world.
The fact is that most Americans are so damn close to financial hardship that any sudden, negative change in their circumstances could be disastrous.
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Even worse, they’ve come to rely on the government to fix it, not on themselves. That’s a bad habit, one that started with Roosevelt in the Great Depression and became very popular with Obama.
The government will never act as an empowering source, only as a means of sustaining poverty.
I’m shocked that people still believe that government is the solution, when it’s clearly the PROBLEM.
Again, I return to this clearly visible trend of withdrawing funds from equities and converting it to cash.
On the flip side, there are 70%-90% of the general public who are cash-poor, debt-ridden, and incapable of taking big strides forward, since the game is rigged against them.
It will not be until they learn that they must be their own person and fight for their lot in life that they’d steer society in the way of capitalism.
The printing machine has created an imaginary world of credit, which people have been duped to believe is real and sustainable.
The biggest risk to your life is reliance upon these externals.
You must begin to CONSIDER only how you can become a more valuable part of the economy, not how you can apply for additional government aid.
The future is paved by entrepreneurs and independent thinkers; the rest will get punished for falling asleep at the wheel, in one way or another.
Research Partner, PortfolioWealthGlobal.com
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