Over the past 10 days I have been repeatedly asked to comment on the recently elected President-elect Donald Trump. It is no secret that I, like many others, had and do have my reservations in regard to the soon to be appointed president of the United States.
However, I pride myself on not being blinkered in my opinions and not making a habit of focusing too heavily my personal emotions on global issues I cannot change. When democracy rears its head and decisions are made that aren’t what I agree with I am of the opinion that nations and indeed the world work better when we take a metaphoric five minute funeral and then move forward together to calm the markets and restore confidence.
After watching things unfold over the last 10 days I see a slightly different Donald Trump to what I saw during the election. I have also studied further his commentary from before the decision and I like to think that the rhetoric of the President-elect was exaggerated for the benefit of those voters he needed to gain what he required. If this is the case, then is he a genius? I’m not sure this is true but it is true that we now see a different side to his personality.
I am intrigued by his personal fight between his many characters. First, his attempt to do the right thing so as to not let down his countrymen and the pledges he made. Secondly, to attempt to bring on side those who voted against him, ironically due to those same pledges! And thirdly, his engrained capitalist persona that has driven him as a person for so many years. It’s interesting to say the least.
There are advantages to his presidency. Loosening of regulation may increase productivity (at least in the short term). Companies like Carlton James’ borrowers will benefit, as will areas where fossil fuels drive the economy. Maybe his character will allow the U.S. to not be so hasty with their foreign policy, which has played a large part in the current problem in the Middle East.
In an attempt to stick to the point of this blog I’d like to restrain from focusing on the negatives, because at this stage being negative only serves to continue the lowering of confidence and cause more turbulence for global macro economies.
I will however, speak of his urgent responsibilities. His main job in regard to trade policy will be to fix the current trade deals whilst regaining relationships with other countries, like the U.S.’s two main trade countries China and Mexico. After the recent record breaking increase in the 10 Year U.S. gilded bonds – occurring after the election due to China starting to dump their bonds – this is a task that will need to be swiftly completed to avoid an increase of interest rates for the everyday person.
Building bridges in the Muslim community is also a must for the President-elect, not just for internal policy but for the U.S. relations around the world.
These are but a few. But there is something that the United States of America needs to do and that is get on board and understand that the decision has been made, and if you do not come together as a nation you will see it is a self-fulfilling prophecy. Confidence (there’s that word again) will not and cannot be cemented in an economy with uncertainty.
You never know – this may be the start of a change at the nation’s capital. It may not be President Trump that finally leads the way but he definitely has loosened the lid of change.
Simon Calton is Co-Founder and Chief Executive Officer of Carlton James (www.carltonjamesgroup.com), an investment firm that specializes in hospitality, property and technology.