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Trumpism

 What followed over the next 8 years was one of the most successful economic periods in American history.

  • 20 million new jobs created
  • Inflation dropped from 13.5% in 1980 to 4.1% in 1988
  • Unemployment fell from 7.6% to 5.5%
  • Net worth of average earning families grew by 27%
  • Real gross national product rose 26%
  • Interest rates down from 21.5% in 1980 to 10% in 1988

You know when a period of economic success has taken place when they name it after the leader and the term Reaganism economic policy is now embedded into American political history. It is true that Reagan held a degree in Economics but Donald Trump’s personal economic record is not too shabby either.

I have a feeling that Trump would be fired up to prove the world wrong and would want to make America great again. The American and world economy would be something he would take on as a personal challenge to establish his own place in history and he does seem to have the Midas touch.

How a President Trump would affect Europe is anyone’s guess.  Hopefully he would listen to his advisers and not continue to poke his nose into the affairs of Europe.  Criticising Merkel and other European leaders is not something that will build relationships and let us hope that the comments he is making about European policies on immigration, for example, are just his own electioneering.

What is needed is something to give the markets a boost.  Shares have continued to spiral downwards over a prolonged period and the price of Oil is continuing to float around the $30 a barrel price – though whether this is due to the normal supply and demand factors or whether it is due to the USA controlling the price by flooding the market for their own political reasons is another question.

 

Other News

NEWS WRAP – 2019 Was the Year of the Bulk Pension Transfer

Pension FundsThe value of defined benefit pension scheme transfers in 2018 was an all time-high of £24 billion.

In 2019 the value of pension scheme transfers, according to Willis Towers Watson (WTW)*, is likely to be around £40 billion, which represents a substantial increase and a further record breaking amount.

The figures describe a market in which final salary pension schemes are increasingly transferred in favour of the opportunities and returns to be found in alternative products and investments.

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AROUND THE BRANCHES – French Economic Growth Predicted to Slow

France flag with cracksThis time we look at what the central bank of France’s latest predictions may signal for the country’s economy and President Macron’s reactions to the latest pension protests.

Banque de France has predicted slower than expected growth of the French economy over the next 12 months as the second largest economy in the eurozone negotiates twin obstacles in the form of global uncertainty and simmering trade wars. It also comes on the back of a 5 December nationwide strike and controversy over President Emmanuel Macron’s proposed pension reforms.

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