Another new year is upon us, and it’s that time again to reflect on what went wrong since the last time we reflected on what went wrong. The goal is to relearn the same lesson we relearn every year: Nobody, including myself, has any idea how macroeconomic and sociopolitical events will play out, nor how they will affect the markets.
The story of the 2016 election centers around the unconventional, unprecedented rise of Donald J. Trump. Last night, with no elected office experience, a grab-bag of policy ideas that reflected neither party’s establishment, and a complete disregard for political correctness, Donald Trump attracted some 59 million votes and was named president-elect of the United States of America.
This has left many on the left in a state of panic and disillusionment. They feel that the election of Donald Trump marks the end of tolerance, diversity, and progressive ideals in America. On top of that, with the republicans winning both houses congress and multiple Supreme Court nominations in the balance, they feel that this might also mark the end of Democratic Party influence in government. This is probably an overreaction.