Let’s Be Adults

I have no desire to oversee a website where folks work out their anger issues by posting snarky political comments. But lately, that anger has been on full display, and we all know why. Love him or hate him, Donald Trump clearly elicits strong emotions.

But here’s the thing: Those strong emotions may be justified—but they’re hard to justify on financial grounds, just as they were hard to justify during the Biden presidency. Consider:

• The unemployment rate was 4.1% when Biden left office, 12-month inflation was running at 2.9% and GDP grew at an inflation-adjusted 2.8% in 2024. If you think those are bad numbers, and that the economy was a disaster under Biden, you need to lay off the hard stuff.
• Since the S&P 500 peaked at 6114.15 on Feb. 19, stocks have slipped 14%. Yes, the decline could get worse. But based on how stock-market investors are currently voting their dollars, the Trump economy isn’t going to be a disaster, and certainly nothing compared to that of 2007-09, when stocks plunged 57%, or early 2020, when share prices fell 34%. We haven’t even matched 2022’s decline, when the S&P 500 slid 25% peak-to-trough during Biden’s second year in office.

My contention: Readers’ views of the economy and the financial markets are getting colored by their political opinions. Got strong political beliefs? Fine with me. I just don’t want to read about them on HumbleDollar, which is a site devoted to personal finance. And based on the numbers, matters aren’t so bad for investors right now, just as they weren’t so bad during the prior four years.

To be sure, if the current administration moves to revamp Social Security benefits, or revise the tax code, or takes actions that cause share prices to plunge, it’s hard to comment on such things without saying who’s responsible. But let’s focus on the details of what’s happening, rather than hyperventilating about the players involved.

Last week, I closed commenting on a Forum thread because it had deteriorated into political mudslinging. I did it reluctantly—but I’ll do it again if necessary.

By the way, political venting isn’t the only thing that’s verboten at HumbleDollar. I’m also anxious for the site to avoid personal nastiness. In the past, there have been folks who simply couldn’t restrain themselves, despite repeated warnings. Their comments now go directly to trash.