As Big as Upcoming Election Will Be, Some Things Will NOT Change
Political analysts have said the upcoming election may be the most consequential since the years leading up to the American Civil War. But savvy investors understand that regardless of who wins the White House on November 5th, there’s little reason to believe that some of the most persistent threats to economic stability will be resolved.
Whether Kamala Harris or Donald Trump wins the White House:
- The national debt, which recently was rising as fast as $1 trillion every 100 days and now is closing in on a stunning $36 trillion, will continue to grow at a relentless pace. For that, we can thank the fundamental unwillingness of major political party to embrace fiscal soundness.
- The geopolitical landscape is expected to remain fraught with instability. Conditions in the Middle East – which are rarely stable – remain especially volatile in the wake of the events of October 7, 2023. The ongoing conflict between Russia and Ukraine means Europe’s largest ground war since World War II continues to rage. And in recent analysis, world’s largest asset manager BlackRock said there is a “high” probability of an escalation of tensions between China and the U.S., as well as a “high” probability of a major terror attack.
- Potential dollar instability is a growing concern, as well. Experts agree that de-dollarization, is, in fact, real, with the dollar’s share of central bank reserves having dropped from 72% at the beginning of the millennium to 58% today. And in a recent survey, a majority of the world’s central banks say they expect that percentage to keep falling.
- Then there are the dynamics of inflation, which can be both a cause and a consequence of these and other geoeconomic factors. Many retirement savers are unaware that an inflation rate as seemingly modest as 3% per year can reduce the purchasing power of a hard-earned nest egg by nearly half over just 20 years.
It is incumbent upon earnest investors to be able to see through the smoke and mirrors of election season soundbites and understand that long after the next occupant of the White House has been determined, they still will be faced with some of the most profound challenges to long-term financial security that have ever existed in the modern era.
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ABOUT DEVLYN STEELE: Devlyn Steele is an experienced economic analyst with Augusta Precious Metals. He specializes in explaining complex economic trends in a way that’s easy for everyday Americans to understand, providing valuable insights into how to navigate financial challenges.
CONTACT TO BOOK DEVLYN STEELE: To schedule an interview with Devlyn Steele, contact Todd Baumann at:
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