Another week, another plunge in the markets after a tweet from President Trump…
This time, he demanded that U.S. companies leave China. Of course, it’s something I don’t think he can enforce… at least, not now. Seems like every time he opens his iPhone or his mouth these days the market tanks.
There are also conspiracy theories constantly jamming signals. A big one is whether the current President of the United States is a pawn of the Russian government, aiding Vladimir Putin’s effort to undermine America’s position in the world.
A few weeks ago, I wrote in The Rich Investor that I plan to vote for Donald Trump in November 2020. Our e-mail inbox exploded with less than kind comments…
Apparently, I struck a nerve.
What I didn’t mention in that article was that I originally supported Bernie Sanders. I’ve known about Sanders for decades. I grew up skiing in Vermont in the winters and playing other sports in the summer. He’d walk in the Fourth of July parade in the village nearby. Of course, as a conservative, my dad thought Sanders was a total nutjob.
Trump Knocked on the Doors That Mattered
When he announced his bid in 2015, I took him seriously. I didn’t think he should be underestimated. His ideas back then were extreme. However, I thought him capable of cutting deals and making some of his outlandish ideas acceptable to the mainstream.
Sanders got hosed last time. Really, I was an anyone-but-Clinton supporter. I knew Donald Trump would win when I read an article about a former Sanders supporter who was going to support Trump. He decided to organize and knock on the 800,000 doors that mattered.
Those doors in Pennsylvania and Ohio and Michigan and Wisconsin that would decide the election… the doors Hillary Clinton ignored.
Think about how bad a candidate Hillary Clinton was. First, she lost to a community organizer. Then, she almost lost to a disheveled, gruff, socialist who looks like he went through two cycles of the washing machine. The Dems had to rig the system against Sanders just for Hillary to secure the nomination. Then, she lost to a reality TV star.
This time around, Sanders is catching up to Sleepy Joe Biden. But I think he’ll fall short. Now, the Democrats are falling over themselves to be left of left. Sanders is even more extreme than four years ago.
That’s why I still plan to vote for Donald Trump this time around.
The Electoral College Saves America
Last night, I watched a fascinating documentary, Active Measures. The gist of it is that Donald Trump is a pawn for the Russians. The collapse of the Soviet Union wasn’t a good thing for the Russians. Vladimir Putin has been working ever since to reclaim its former glory.
Trump got into trouble financially, and Russian mobsters used his properties to create shell corporations to launder money. When Trump’s credit was completely shut off, the Russians got him financing through Deutsche Bank (NYSE: DB).
Now, Trump owes the Russians and now he is in Putin’s pocket.
Those are the accusations.
They could be true, to an extent. Trump was in trouble financially. Shell companies are used to buy and sell condos he’s developed.
Russia has meddled in elections in the past. When Putin had used force to impose his will, it didn’t work out quite well. So, the Russians started to adopt less iron fisted tactics. They used technology. It worked beautifully.
Here’s where it falls short, in my opinion.
And thanks be to God for the Electoral College. The same Electoral College that gets criticized constantly. If we had a popular election, there’s no doubt in my mind it could be influenced by foreign governments.
But how did the Russians influence this one? Hillary Clinton won the popular vote by 3 million votes. The election came down to a few areas in several states that are populated by people that speak Donald Trump’s language. They’re economic nationalists. They’re places she didn’t visit.
There’s no doubt that with technology and social media today, outside influences will meddle in our affairs.
What’s That Have to Do with Being Rich?
Well, in my “Middle Class Millionaire” series I suggested that reading the news is hazardous to your wealth. So is social media. I no longer have any presence on social media. I find my life is more fulfilling. I’m also making better decisions. My head is clearer. I’m not a zombie scrolling through a feed.
We also need to focus on ourselves. There’s a lot of misinformation out there. But, if we focus on taking care of ourselves, we will be better off. That includes our finances, too.
Soon, my third book will be published. It’s called Unbounded Wealth. In it, I describe a simple strategy to earn the same returns of the market over time but with just a quarter of the risk.
Being consistent is what matters for achieving financial security.
Then, it won’t matter who’s president. It won’t matter what the conspiracy theories are. And you can do more productive things with your life than worry about the day-to-day gyrations of the markets while still reaching your long-term goals.