The winning party will cheer, and there will be great hope for change across the land.
There will be further discussion on a new bail-out plan for a country in Europe.
There will be hatred, bitterness, and signs of war in the Middle East.
The National Debt will increase about $4 Billion that day, as is typical.
Economic growth will be flat, or slow, at best.
The dollar will buy a little less than a month before.
More Americans will be receiving food stamps and worried about finding a job.
I could go on… with more useless predictions….
But, really, new president or old president, a few political faces may change, but most economic facts are unlikely to change. Keep your perspective, and remember that the big economic picture is more important than the details.
So what are you doing to protect yourself and your family from the increasing instability, risk, volatility, and inflationary policies of our financial markets?
In my opinion, you can safely assume that:
Congress and the President will NOT decrease spending, but they will talk about it.
The Fed will continue “printing” dollars (injecting liquidity into the financial system), and this will lead to even more price inflation.
Price inflation is already a problem for most people, and it is getting worse, regardless of the official statistics. Severe inflation in a couple of years is possible.
The Dollar’s purchasing power for daily essentials is decreasing, on average, every year.
It is wise to buy inflation hedges with your savings and retirement funds. Choose what works for you, but I like gold, silver, agricultural ETFs, oil ETFs, and precious metals mining stocks.
Accept what you cannot change in our financial and political systems, and take care of your family and personal finances as best you can.
Conclusion
Protect yourself from the politicians and from our inflationary economic system. Economically speaking, nothing substantive will change for the better as a result of this election. Buy gold, silver, and your favorite inflation hedges.
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