55% of Americans own stocks. If you follow global stock reports, there is a pattern that goes against the “isolation” policy that we currently have in America. America first has some unexpected consequences. That is a lesson to be learned. America may think that isolation and America first is a good strategy until you realize that our financial life is impacted directly by what is happening in global markets. It really isn’t possible to go it alone as we need to always be thinking in global terms whether it is in the world of finance or climate change.
If you were wondering about the power of the Presidency, all that you have to do is follow the stock reports. This past week President Trump sent out signals that he may not go “peaceably into that good night” if he loses. He then put the nation and the democrats in a double bind by indicating that he would leave the office peaceably if he thought the election was fair. He went on to say that if he wins then he knows it would be fair. What? He has not put pressure on Congress to offer those on Main Street more financial relief. He is also rattling his sabers toward China and keeping the financial wizards in suspense regarding another possible trade war. All of this has affected Wall Street and the stock market with increased volatility. Wall Street doesn’t like uncertainty.
There is one area that has hurt both Main Street and Wall Street. That is the pandemic and a failure to have a national plan that would include mask wearing, social distancing, and good handwashing techniques. The President should lead the way on this, but now we don’t know when the vaccine will be ready and who will be ready to get it due to Presidential pressure on the CDC. Will politics win out over science?
I am not sure what street the President is on. He certainly isn’t on Main Street. He seems to possess stock in only his brand and businesses. It still boggles my mind that someone who has never done a hard day’s work in his life with his hands is supported by working class people on Main Street.
He embodies classism at its worse. The only question after using a private foundation in his name to help children and then using all of that money to help his election is how low will he go. Unlike other possible convictions of his crimes this one was won by the state of New York.
He is the hero to his base because they feel that he “hears” them and that is an important issue for any of us. Trump put it rather well when he said to the Democrats, “You people got me elected.” He is right.
I can’t get use to people referring to the market in almost human terms like “the market is having a bad day”. But maybe that is a good thing because it reminds us that money directly affects our personal lives and it is like the air we breathe. Everybody needs it. But Main Street isn’t getting enough of it!
We have to get back to the realization that Main Street has made and will continue to make America what it should be, a beacon of light to the world. Wall Street depends on Main Street. We can’t survive without the American worker. Let’s start listening to those on Main Street for the Pandemic has caused the American worker to lose his or her self-esteem and the reality of their central importance to our country. That is what is needed to solve our national challenge, but remember human beings are very reluctant to give up anything that they have to others particularly financial resources. That is an unfortunate part of us. But then again millions of lives are at stake here and around the world..
Like the stock reports maybe we have to realize that what we do impacts everyone here and afar and vice versa. We literally are all in this together. We will rise or fall as one world. Time to own that truth. When we realize that with a global identity, things will change for Main Street and Wall Street. It will also decrease the impact of any president on our financial world when a steady hand at the helm is needed..
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