Investment managers were stunned when the dot-com bubble burst in March 2003.
They were stunned again with the Global Economic Crisis of 2008.
I challenged my financial advisor for a plan in case TFG returns to the presidency. The signs are all there for a financial crisis (disaster?).
- He will order mass deportations of undocumented immigrants and probably many legal residents with brown skin. This will wreak havoc on US agriculture, meat packing, construction, and many service sectors.
- He will impose a 10% tariff on all imports driving inflation and suppressing the consumer market which is the mainstay of the economy.
- He will use the Justice Department to prosecute his detractors.
- He will use the National Guard or the Army (under the Insurrection Act) to shoot demonstrators. This will include demonstrators opposed to his policies and possibly the Women’s March.
- He can disappear his detractors to Guantanamo or Black Sites with no due process under the Patriot Act.
- He could authorize the right-wing militias to attack or kill his detractors.
- The Supreme Court thinks he might be immune from prosecution for staging a coup, assassinating a political rival, or selling military secrets.
Will this end with regular street battles with burning barricades and tear gas? I hope not. But, I fear that there is a real risk to the economy and to the health of my investments. Maybe, I should establish a Swiss bank account before the election and re-invest if we keep Biden/Harris.