Recently, as I was watching a conversation among so-called “progressive Democrats,” two fascinating discussions came out of it.
One was discussing what President Donald Trump has NOT done yet. No healthcare! No tax reform! Caught in scandals! They seem to have been very happy about it.
The second was about the current state of our US economy. They were accurately discussing how retail spending has dropped significantly. How investment spending has not moved and how our government is not spending enough to solve our social ills. Again, they came to the conclusion that it was Trump’s fault.
Yes, I couldn’t help it. So now I go into a conversation with people 25 years younger than me, asking a simple question:
“You are very correct about our economy. It’s slowing down significantly. But, if Donald Trump, as you say, has not done anything, then wouldn’t our slowing economy, still be the fault of President Barack Obama?”
After, of course, a reheated one-hour conversation, I noticed out of eight progressives, four of them agreed that you could not blame Trump for our economic ills.
But as I went home, I thought about this a bit more. How sadly, as a nation, we cannot figure out that our citizenry is more divided today than almost ever before ( in a peaceful way).
We now have policies economically created by Obama. And with no new economic policy going forward, we have no way to correct anything.
So, if we are in a period of lower consumer, investment, government spending and higher interest rates, well, one does not have to be an economist to know what will happen next.
We will be in for a devastating economic recession, which Trump will probably be blamed.
But more importantly, how do we invest in this new economy? Is it going to get stronger? Weaker? The craziest part, we have a divided nation with 20 million questions, 40 million blames but cannot unify for any solutions.
Still feel good to be an American?
Anthony Rivieccio is the founder & the CEO of The Financial Advisors Group, celebrating its 20th year as a fee-only financial planning firm specializing in solving financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Klipingers Personal Finance, The New York Post, News12 The Bronx, Bloomberg News Radio, Bronxnet, Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Bronx News and The Bronx Chronicle. For financial assistance or a FREE 2017 401k Analysis. Mr. Rivieccio can be reached at (347) 575 5045.