Is Donald Trump a narcissistic blowhard or an astute businessman with the ability to make America great again?
We will all find out over the next four years, but we should also keep in mind that he will not be running the country by himself. He has a Republican majority in Congress and most states are now run by Republicans (the party that most media were writing obits for a month ago).
Although President-elect Trump is a former Democrat and has expressed support for expanding many government programs, the advisors he has picked to date signal that the regulatory state we’ve lived under for the past eight years will be reined in. That would be good news for the economy and for the markets.
Regardless, he is not Hillary Clinton, who was poised to tack left of President Obama and bring us closer to the socialist state that U.S. Senators Bernie Sanders and Elizabeth Warren have been advocating.
While we worry about his stands on trade and immigration, President Trump will undoubtedly be stronger than President Obama, more bipartisan and more focused on economic growth. In all cases, it wouldn’t take much. (more…)