I normally don’t fear the unknown, but this is precisely how the election of Donald Trump as US President made me feel. My first reaction to the approaching result was disbelief.
Looking back, it has been difficult to identify the Republican Party’s policies throughout the hailstones of Trump insults. The continual emphasis on the Clinton emails detracted from his list of adverse dealings, unpredictable behaviour and rudeness.
Now the results are out and obviously Americans feel like a change. They said this when Barack Obama came to power and didn’t he have a tough battle? If only his term could have been extended.
However America is a powerful country and perhaps is in a position to take extreme risk, even while its economy deteriorates. Australia has a huge vested interest in the USA and it’s not as though this can change.
So I have some questions.
- Where does this leave we Aussie battlers?.
- How will Australia work with Trump? It is not about our Prime Minister liking him or not. It is about getting on with the job of looking after Australian interests.
- What about our foreign relationships? Obama was a great ambassador and strived to be a peacemaker. I didn’t like Trump’s attitude during his campaign almost promoting the concept of war.
- On a more personal note and I am sure my fellow Baby Boomers will have similar thoughts: How will the result affect our Super?
I can only imagine the share market will drop. But like the recent Brexit shock, when things do drop, they in time, seem to pick up. It makes one think about staying longer in the workforce rather than choosing the path of a self-funded retiree.
I did feel a flicker of hope as I watched Trump’s acceptance speech as President elect, live on TV. I sensed a softer tone. Was he being humble, respectful, calm and in control while promising America will “come together as one united people”?
Like many others I will wait and see what happens. I have no other choice. It takes time to build trust and gain faith in someone who appeared to be like a walking time-bomb. The USA needs help, Australia does not want to go into decline and I want my investments to be stable. We can only wait while the share market most likely drops and I tell myself not to panic.
My advice to ‘self’ is to let things settle and stabilise then decide on my next path in life. We always seem to bounce back. Let’s hope it doesn’t take too long.