FOLLOW THE MONEY Our beat is money. So we will skip the culture wars, nominee confirmations, and foreign policy initiatives. Let’s just follow the money. And what we notice immediately is that the last decade (save the final three months) was a great time to be rich. The Fed pumped up your stocks, bonds, real estate, and collectibles… And then, Donald J. Trump added a tax cut. Even after the sell-off at the end of the year, the typical stock owner was still two to three times richer than he was in 2009. FROM 2018 By Bill Bonner It was little to show for a whole year, but at least it was something real and durable. But what about the wider world? Are our foundations more solid? What did we learn? The headline events are easy to recall. “If it bleeds, it leads,” say the old newspaper editors. Mr. Trump, waving his saber wildly, made the headlines every day. North Korea, China, Canada, his own staff... trade wars... porn stars... shyster lawyers... Trump charged like Cardigan at Balaclava – with great gusto, but little reconnaissance. And like Cardigan, he
survived and became a hero to his fans. But for all the sound and fury, what did it accomplish? Where did it take us? Are we better off?
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American Consequences 61
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