Trump sure as hell ain't no Kennedy, although he does fancy himself to be. His bigger problem is the idiots he chose as advisors. Bannon and Priebus are obviously giving him very bad advice, and Bannon especially, is over-stepping his position. And then we have one of the "gifted ones" off skiing in Aspen while one of the most important of Trump's election promises is on the butcher's block. Trump has surrounded himself with ass-kissers that don't have a clue about how to run a country. And Trump's threats to let ObamaCare "explode" just demonstrates how little he actually cares about the American people.
So that sets the stage for the really important economic agenda that will affect our investments. Any meaningful tax reform and infrastructure spending is off the table, as both would require more debt ,without off-setting cuts to health/social spending, They will likely get something passed, but it won't be enough to mean anything to us. So we will depend on the economy to stay strong on its own. It seems to be doing ok, as it is in the other major economic zones in the world. The question is, what is driving it? Is it just the follow-through from the massive injections of monopoly money over the last decade, or is it real economic growth? I tend to think it is the former, as labour participation rates are low, and more and more money is going to people who don't produce anything, such as government workers. Fewer and fewer people produce a product, whether it be a washing machine, a piece of computer software, a barrel of oil, or a head of lettuce. Those are the things an economy is based on, the rest of the population just churns that money over and over again, producing nothing of value. It is a Ponzi scheme, and Ponzi schemes never end well.
Sorry for the rant, I am just putting down in print what is bouncing around in my head these days. After the incredible run the stock market has had, I am once again wondering if it is time to exit, stage left, maybe for good.