Old school Irish mothers are fond of saying "Self praise stinks". And so, having been raised by
by Mae McCoy, I am surprised at how long The Donald (Trump) has lasted as a presidential
candidate. Not only does he grate on many folks, he commits an even bigger sin: He is a crashing
bore. But he has captured the interest of lean living white folks, the latest collateral damage of
modern economic times in the US. Blacks have been badly treated throughout our history. Eleven -
twelve million illegal Hispanic immigrants now live here in virtual serfdom. The trade union
movement was busted starting in the 1980s. And now, as US companies keep moving operations
offshore and open trade agreements flood our markets with imports, the final insult to the
heretofore safe white middle class has come: The rewards of enterprise flow primarily to capital
and not to labor, thus leaving millions of whites with stagnant or falling real wages and much
diminished mobility. The GOP elites have pissed all over their shoes for years, and The Donald
has scooped them up. As this peasant class both grows and seethes, they may represent a new
and potent political force. A white democrat might have appealed to them at one time, but not
a super bright man of color. They have rejected him. The GOP stands for the wealthy as it has
for over 100 years and does not know what to do with them. Our new peasant class will grow
further and will be joined by the elderly if the GOP gets its way. Watch to see how this potent
this force might become. And note too, the popularity of Bernie Sanders with the young folks.
Fascinating stuff.
I have ended full text posting. Instead, I post investment and related notes in brief, cryptic form. The notes are not intended as advice, but are just notes to myself.
About Me
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!
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