Mailbox: Ex-SA fund manager now in US shares brighter side of Trump triumph

From Anthony Ginsberg in California:

Anthony Ginsberg
Anthony Ginsberg

Clearly a huge shock here with Trump victory – all experts got it wrong!  Frankly I’m more optimistic as we need a drastic change and Clinton was a boring status quo option – basically a 3rd term of Obama type policies that would have raised taxes and made health care more expensive.

Definitely a huge shakeup in Washington – but also more business friendly, lower taxes etc. Frankly not such a bad thing to have a big shakeup in Washington and bringing some business brains in to cut out all the graft, execute new trade deals, get rid of wastage, inefficiencies of govt etc.

Exciting times here – but a huge shock as all the pundits got it so wrong. Unfortunately this is partly due to a largely very biased mainstream media (anti Republican).

Arguably this is far bigger than the UK’s Brexit. The anger of the average American voter reflects frustration with a weak economy where wages have barely risen the past 6-7 years and the middle class continues to shrink.

This is a huge repudiation of Obamacare (nationalized healthcare effort). The sweeping new health care policy is broken and has led to a massive increase in medical aid premiums across the US.

It is very likely Trump will get to appoint 1-2 new business friendly Supreme Court justices which bodes well for the economy.

Also read: Worldview: Making sense of shock Trump victory – ‘voting cattle’ era over

He will likely reduce corporate taxes substantially – helping to facilitate the massive repatriation of billions of offshore earnings back to the US – boosting the local economy.

Under current tax laws Apple and other multinationals have not wanted to repatriate their foreign profits – for fear of paying around 35% corporate tax on these earnings.

  • Ginsberg is the founder and CEO of GinsGlobal Index Funds, an asset management company which specialising in compiling and distributing index trackers.
Visited 38 times, 1 visit(s) today