Yahoo Finance

Barbara, election years introduce uncertainty. I think this year we can agree more than most. I mean serious questions about who's even on the ticket right now. What are you telling your clients, Barbara?

Ah, well, I get do do get that client that call that question from clients. And what I say is basically, you know, um, Trump is more, um, more pro business than Biden. But Biden is also, you know, pro business. And we know who, if Biden remains on the ticket, we do know who Biden is. We know what to expect. I mean, there's going to be no surprises. And in fact, you know, here we are, almost, you know, how many highs in the market? And what's happening with unemployment? We've got a pretty good economy under the Biden administration. And looks like, you know, there's nothing that's going to derail that, you know, in terms of his plans and what he says. Trump, on the other hand, um, it's more for Trump, there's there's two questions. One is the macro. What happens, um, if he implements the things that he says are his priorities? And there's three things that stand out to me. Um, one is the 10%, he's saying across the board 10% import tax increase, and China much more. Okay, what does that do? That raises prices. And what who does it raise the prices that hurts the most? That's the lower income consumer, who we are already seeing through many company reports, reports, um, retail, etc., that that's who is hurting it the most, because they're spending on necessities. Then you have the immigration issue. If he really, um, gets elected and deports millions of immigrants, those are the ones who have been providing, you know, have been taking the jobs that have been open. And that also helps, you know, keep wage pressures down. And then he's also talking about not re about keeping the tax cuts in place. And that's for the wealthy. Well, we've already seen in that administration it really the the deficits and loss of of income for that were not made up in other ways. So to me, what you're seeing is that it probably means higher rates for longer, you know, that's inflationary. And so, you know, what happens then? I don't think it has immediate impact on the market. It's more we're going to see a sector rotation, which everybody's trying to game that out, and we know one that, um, you know, Trump will not be pro regulation. You know, we've already, you know, heard reports from talking with the oil executives. You know, if you support me, I will, you know, um, give you certain benefits. Clean energy will be hurt, no subsidies, you know, anything that supports them. Um, healthcare is interesting because healthcare would kind of would be bifurcated, you know, those with Medicare advantage, like, um, United Healthcare or Humana or CVS will do well, right? Um, those who have more of an Obamacare or Medicaid orientation, like a Centene, they're not probably going to get much support, you know, from the government. Tech, both parties seem not to like. So they'll, you know, in either case, they'll be after them. And of course, banks, you know, anything that requires regulation, but banks, there's not, I think, big changes that would happen, just less maybe attention to enforcing certain regulations. Right.

Right. That's interesting how you're thinking about all of this. Well, um, Barbara, thank you very much. You're going to stick around though, and join us in a little bit for goodbye or goodbye. So just don't go anywhere.

Yes.