Bring it home?

Eight more sleeps ’til the ruler is chosen. Everywhere comes word advance polls are jammed.

What does that mean?

Conventional wisdom is that people are motivated to vote – and do so as soon as possible – when they crave change. So those long lines should be good for the Cons, after three terms of the other dudes. But things are not conventional these days. This sis more an election about America than Canada. If the ballot question is, ‘who best to protect us from them?’ then the Gray Guy may beat the Pugilist.

Meanwhile this has lots of folks thinking like Peter.

“I’m becoming pessimistic on US stocks and other US assets as a result of Donald Trump’s chaotic and idiotic actions. Should Trump be continued to run amok, stability in US markets seems unlikely for an undeterminable amount of time,” he writes me.

The US Treasuries are beginning to look less secure. The Mark Carney story seems plausible and if it is, there could be more selling on the way in  order to attempt reining in Trump. If more selling takes place and US Treasuries are no longer viewed as a safe haven, what is?

What about the US dollars losing its reserve currency status? I can’t help but think the principals of prudent investing would change dramatically. And Trump appears to be ignoring Supreme Court rulings, trying to take control of major universities as well as apparently looking to close up 30 foreign embassies and consulates. He is intent on shutting out the world, blowing up global trade and damaging the global economy. I don’t see how the US economy is going to grow. And where does he stop? Are foreigners who hold US investments going to get whacked tax wise?

I have been in the markets for some 40 years – former financial advisor. I have made all the mistakes one can make. I have learned to hold steady and not sell in times of trouble. It is a guaranteed way to lose money.

I have not sold a thing since Trump began his stupidity this year. I do hold a  significate sum in US assets – both ETF’s and stocks. Yes, the accounts are down a couple of hundred thousand dollars, but I am holding.

My question: At what point are you going to become concerned about US holdings and begin to bring funds home?

Trump, believing he has no guardrails, is on a rampage.

Gutting government. Deporting the innocent along with the troublesome. Attacking universities. Abandoning allies. Promoting commercial fishing in marine sanctuaries and logging in protected forests. Ending vaccine research, trolling and mocking Canada, laying off scientists and personally enriching himself and his family through crypto and real estate ventures, while being suspected of equity market manipulation. And, yes, he’s caused the US$ to decline, American bonds – the gold standard of the planet – to lose both value and confidence, while he digs up the corpse of 19th Century protectionism to decay and destroy the global trade that’s made mankind more prosperous than ever before. All this is in under a hundred days.

We’re all repelled, Peter. Except the maple MAGAs, of course. But their numbers dwindle as it becomes clear 47 is driven by revenge and doctrine, not a passion to serve. This is a presidency destined to end badly. There’s no other outcome. And, yes, it’s a safe bet things will get worse, darker, weirder before they stop.

But they will. And, yes, there are guardrails.

Public opinion is one, now being mobilized. Hundreds of thousands of people demonstrated in eighty separate events over the weekend. Against Musk and DOGE. Against the cutting of health and education services, the negative impact of tariffs, deportations and the attack on academic freedom and personal liberty. The hapless, defeated Democrats are starting to organize and lead. More to come. Look at what’s been happening at Town Halls conducted by Republican politicians. They’re being eviscerated.

The courts are another guardrail. Trump has been trying to ignore legal rulings against White House executive orders that cross the line. But he can’t continue without creating a constitutional crisis, and involving the Supremes. He will lose.

And the biggest Trump thump may be the midterm elections next year. Losing control of Congress is a distinct possibility, and would hobble the president’s effectiveness. He’d also (likely) be impeached.

In short, Peter, this will end. Trump will end. And while it will take years, or decades, for the US to regain what’s been so quickly and radically lost, it still has the dominant economy, issues the world’s reserve currency, is the most lucrative consumer market and has the most guns and bombs.

Going forward, Trump will probably proceed with slashing corporate taxes, deregulating industry, voiding environmental rules, sucking in offshore investments, dissing the rest of the world and deboning Washington. If you were a billionaire oligarch, you’d be thrilled. He’s one of you. Defrocked or not, this president will leave office enriched as none has been ever before – the grifter king.

In short, do not bet against America. It is what it is. At the moment, repulsive enough to throw our election. But certainly not to have you bail.

About the picture: “I have been with your blog from the very beginning, but I’m glad I didn’t listen and bought a house in 2008! ,” writes Irene. “Nonetheless, your blog has been my go-to source for insightful news and valuable info, more than anywhere else. Thanks for all the hard work you do! I would really appreciate the pic of my cat Tootie, who sadly passed away just a few days ago at the age of 18 years 8 months. She was small and baby-faced, but incredibly fierce and independent. And so loved!”

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