"Trump paid plenty of lip service to working-class Americans, but as president-elect, he's moved quickly to stack his administration with billionaires that share his vision of a rigged economy that only works for people like them."
I’m not sure it’ll develop positively as a whole. There will be some winners but there are also likely to be losers, perhaps more losers than winners. Perhaps investing in Trump’s donors’ companies.
It all comes down to patience. I’m also keeping some of my investment funds in cash against the possibility that Trump crashes the economy again. Getting oil stocks at a 90% discount paid off my student loans.
That’s the opposite of what people who have a problem with oligarchs buying the government should do. If you don’t have enough capital for real estate investment, you are better off taking your money out of the markets and putting it in something low yield, long term, and stable. Bonds, CD’s if you find a good credit union, and those sorts of things.
If you are not already wealthy, basically you’re fucked. You can mitigate that by making some (rather large) changes in your life:
Move every dollar you can from for-profit banks to member owned coops or credit unions
Purchase as much as you possibly can used or second hand (there is a secondary market for all durable goods)
Move any managed investments to a fiduciary (a type of financial advisor that is legally required to act in your best interest, other advisors are not required to)
Legally I cannot advise anyone to take any actions that would risk destabilizing the US or its economy and you absolutely should avoid engaging in these activities:
vandalism and destruction of property that disrupts a regional, national, or international business
Using collective action to force a bank run
Refusing to comply with the laws of the United States until such a time that citizens again have representation in government
Malicious compliance when interacting with the government or at work
Yup, there are a lot of options for civil disobedience in the use of your money. I bank with a credit union, myself, and love that CU’s give you away around fees. Mine, for instance, lets you have a line of credit that, if you accidentally overdraw, will make the payment without triggering fees. You just pay back the few pennies in interest and you’re good to go.
I look at investing in stocks the way I look at people using gasoline.
You have no real options. With a president like Trump, and both ruling parties being owned by Wall Street, it’s just unwise not to be invested if you’re able to be.
There are tons of options other than investing in the markets. If you have enough to invest, instead you could start a housing coop with a few other folks (it’s easier than it looks) and spend your resources maintaining or increasing the property values, as an example.
If the incoming administration is able to pull off even one or two of their more spectacular plans every single person on earth will be affected by the ripples. Deporting the migrants alone will decimate our economy and lead to skyrocketing inflation.
The only way we are going to have a chance at doing anything but surviving is if we come together for mutual aid & support and find new ways (or rediscover old ones) to how to build a future. Investments help the Oligarchs (especially if you invest in indexed funds and things like it) and won’t be worth the bits they’re stored in if inflation gets out of hand.
But then again I have lived at or below the poverty line for most of my adult life, so “investments” are something for other people to take advantage of.
If you can, make sure you’re investing in the stock market.
I’m trying to invest in some groceries…
Yeah, don’t ignore that ‘if you can’ part of the sentence.
I’m not sure it’ll develop positively as a whole. There will be some winners but there are also likely to be losers, perhaps more losers than winners. Perhaps investing in Trump’s donors’ companies.
It all comes down to patience. I’m also keeping some of my investment funds in cash against the possibility that Trump crashes the economy again. Getting oil stocks at a 90% discount paid off my student loans.
That’s the opposite of what people who have a problem with oligarchs buying the government should do. If you don’t have enough capital for real estate investment, you are better off taking your money out of the markets and putting it in something low yield, long term, and stable. Bonds, CD’s if you find a good credit union, and those sorts of things.
If you are not already wealthy, basically you’re fucked. You can mitigate that by making some (rather large) changes in your life:
Legally I cannot advise anyone to take any actions that would risk destabilizing the US or its economy and you absolutely should avoid engaging in these activities:
Yup, there are a lot of options for civil disobedience in the use of your money. I bank with a credit union, myself, and love that CU’s give you away around fees. Mine, for instance, lets you have a line of credit that, if you accidentally overdraw, will make the payment without triggering fees. You just pay back the few pennies in interest and you’re good to go.
I look at investing in stocks the way I look at people using gasoline.
You have no real options. With a president like Trump, and both ruling parties being owned by Wall Street, it’s just unwise not to be invested if you’re able to be.
There are tons of options other than investing in the markets. If you have enough to invest, instead you could start a housing coop with a few other folks (it’s easier than it looks) and spend your resources maintaining or increasing the property values, as an example.
If the incoming administration is able to pull off even one or two of their more spectacular plans every single person on earth will be affected by the ripples. Deporting the migrants alone will decimate our economy and lead to skyrocketing inflation.
The only way we are going to have a chance at doing anything but surviving is if we come together for mutual aid & support and find new ways (or rediscover old ones) to how to build a future. Investments help the Oligarchs (especially if you invest in indexed funds and things like it) and won’t be worth the bits they’re stored in if inflation gets out of hand.
But then again I have lived at or below the poverty line for most of my adult life, so “investments” are something for other people to take advantage of.
Yup, unfortunately not everyone can invest.
That’s what happens when 99% of voters choose capitalism every single election.