By Chris Lowe – Inner Circle (USA) –
Tomorrow… Donald J. Trump will be sworn in as the 45th president of the United States.
Love him… or loathe him… he’s going to exert a huge influence on every asset in your portfolio in the years to come.
You can catch up on our most recent recommendations for how to play the Trump era here and here. But Trump is not just going to impact your wealth. He’ll also have a big impact on the direction of U.S. – and global – politics.
And as regular Bill Bonner readers will be aware, the president-elect is not exactly wedded to free-market principles, so far at least. Bill:
In addition to trying to preserve the past in the U.S., Mr. Trump says he is keen to negotiate better trade deals.
We understand free trade. But the exact nature of a “better” trade deal has never been explained. As near as we can tell, it is like a “better” calendar, with 100 days so it is easier to keep track of… or a “better” election process, in which your candidate always wins.
As far as we know, all human economic progress has been made by a combination of technological advances, specialization, and an elaboration of the division of labor made possible by property rights, honest money, and free-market capitalism. Anything that stands in the way of these things – for instance, crony trade deals – reduces output, wealth, and choice.