Stop Hyperventilating – Trump Isn’t Planning to “Cheat Retirees”

A good friend of mine told me the other day that at the rate he is churning out executive orders, Donald Trump could be done with his work as president by the end of March and then turn over the keys to Mike Pence and return to Trump Tower to preside as king.  While that might make many of his detractors happy, Mr. Trump appears to be enjoying turning the political world on its head too much to fade away so quickly.  The pace he is setting of overturning laws and regulations that are suffocating economic growth and enthroning mindless political correctness is breathtaking.  A politician who is actually doing what he promised – imagine that!

One of the areas in which Mr. Trump is keeping his promises is financial services, where he signed executive orders last week delaying the idiotic fiduciary rule cooked up by Barack Obama’s socialist Labor Department and vowing to undo many of the Dodd-Frank rules that do little to protect investors while saddling financial firms with mindless and useless regulations.

Naturally, the mainstream financial media is in paroxysms over Mr. Trump’s latest executive orders, churning out incendiary headlines like “What Trump Could Do to Your Retirement”, “Three Ways to Protect Your 401(k) If Trump Kills The Fiduciary Rule” and “Donald Trump Just Made It Way Easier for Your Financial Adviser to Rip You Off”. What this all really means is “How dare Donald Trump upset the status quo?”
Of course, this is another progressive meltdown. The fiduciary rule is a bad idea that deserves to be dead and buried.

Here’s why Mr. Trump’s latest plan is actually a good idea (and why your retirement was never in danger).


Here’s Why The EU Won’t Last Another Five Years

I told you last week that I was working on my Europe forecast for 2017, and – as it turns out – it’s not a very rosy one.

The truth is, we may be much closer to the end of the current form of the European Union than most people – and markets – assume.

Investors treated Brexit and rejection of the Italian constitutional referendum as reasons to rally in 2016, a reaction I did not expect and believe is misguided (perhaps the negative reaction will be delayed until later in 2017). The current structure of the European Union and the monetary policies of the European Central Bank (ECB) are anti-growth.  The ECB is pursuing the same policies that failed to stimulate sustainable economic growth in the United States and Japan – ZIRP and QE.  Rising economic and political pressures may hasten a new governance model in which individual nations could regain control of their own economies and currencies, but such a process will engender serious economic and market instability.

With important elections on the horizon in Germany, France and Italy, the future of the European Union may be rewritten by voters before the end of 2017.

As I’ve been explaining for a long time, that instability will create ripple effects that are felt round the world.

And it could start a lot sooner than we think.

Here’s where Europe is headed in the near future – and how to profit.


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