We have, indeed, elected a not very intelligent, unstable man as the next president of the United States. He did, clearly, appeal to many of the least attractive aspects of human concerns and beliefs. But this is nothing new: think even relatively recently of Nixon, George W. Bush, even Obama. We have not done especially well, throughout history, of picking wise, even-handed, bold and prescient leaders. Democracy may not be the best means to identify and to bring to power the best among us.
We’ve survived, and we will again – even the reign of Trumputin. The people who voted for him, in spite of, or because of, his cabinet appointments, his continued embracing of Russia, his off the wall pronouncements, continue without interruption to champion his win and support his “positions.” But the enthusiasm of a very different group, where one sees near ecstasy, is even more telling of how missing the mark are so many critics today. I am talking about the market makers and large investors who are celebrating the end of massive regulations and the freedoms they see in this new administration. One could explain the initial upswing in the market as just a knee jerk reaction to the end of the Obama regime and all the politically correct and anti-business policies of the past eight years. But, that it continues unabated, two months after the elections, portends something much more – something major and important. Because, if the market and the economy continue thrive anew after years of treading water and gasping for air – imbued with new energy - then there is and will continue to be something to celebrate. And, just maybe, we will also see an interest rate environment which isn't held artificially low by the Federal Reserve and a banking system which is no longer derailed by excessive regulation.
Two months, sixty days, is more than just a momentary burst of hope. Let’s see it for what it well may be – a new and fresh moment for innovation and prosperity – and let’s move on with our lives in a country that may never get it absolutely right but that can embrace differences and silliness without revolution and disintegration.
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