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In the pause: One of the giants of the investing world expresses concern about Trump

“In matters of style, swim with the current; in matters of principle, stand like a rock.” ~Thomas Jefferson

In my ongoing pursuit to understand the strange economic climate that Mr. Trump is generating, I read this article about non-partisan investor Seth Klarman one of the most interesting reads as of late. (Hat tip to my friend, Alex, for sending it to me.) While the societal impact Mr. Trump is having garners most of the press and public opinion, what his leadership style and actions are doing, and will potentially continue to do, to our economy makes me increasingly nervous. Mr. Klarman has communicated the same fears.

Though the journalist who wrote this piece doesn’t share the entire contents of Mr. Klarman’s letter to his investors, he pulls out some of the most salient and relevant points. One point is that Mr. Trump’s protectionist trade policies, which he dubs as “America First”, are dangerous and historically have proven to be harmful to the U.S. in the long-run. Eventually, it will drive prices higher, harm all manner of relations with countries around the globe, comprise safety, and increase interest rates and inflation. For all those voters who said their number one reason for voting for Trump was that he promised to cut taxes, Mr. Klarman also views that as a short-sighted reason. These tax cuts could ultimately harm the U.S. because they have the potential to balloon national debt with rising interest rates and cause societal unrest by growing economic disparity. Essentially, they make the poor poorer and the rich richer. And that my friends, is a recipe for revolution that has toppled leaders, and at times entire governments.

I highly recommend reading this brief article but if you don’t have time, here’s the crux of it: buckle up, keep reading and discussing to stay educated on the issues, and don’t be a bystander. To borrow Mr. Klarman’s turn of phrase, be an upstander. Democracy needs each one of us, now more than ever.

About Christa Avampato

The short of it: Writer. Health, education, and art advocate. Theater and film producer. Visual artist. Product geek. Proud alumnae of the University of Pennsylvania (BA) and the Darden School of Business at the University of Virginia (MBA). Inspired by ancient wisdom & modern tech. Proliferator of goodness. Opener of doors. Friend to animals. Fan of creative work in all its wondrous forms. I use my business skills to create passion projects that build a better world. I’ve been called the happiest New Yorker, and I try hard to live up to that title every day. The long of it: My career has stretched across Capitol Hill, Broadway theatre, education, nonprofit fundraising, health and wellness, and Fortune 500 companies in retail, media, entertainment, technology, and financial services. I’ve been a product developer and product manager, theater manager, strategic consultant, marketer, voice over artist, , teacher, and fundraiser. I use my business and storytelling to support and sustain passion projects that build a better world. In every experience, I’ve used my sense of and respect for elegant design to develop meaningful products, services, programs, and events. While building a business career, I also built a strong portfolio as a journalist, novelist, freelance writer, interviewer, presenter, and public speaker. My writing has appeared in The Washington Post, The Huffington Post, PBS.org, Boston.com, Royal Media Partners publications, and The Motley Fool on a wide range of topics including business, technology, science, health, education, culture, and lifestyle. I have also been an invited speaker at SXSW, Teach for America, Avon headquarters, Games for Change, NYU, Columbia University, Hunter College, and the Alzheimer’s Foundation of America. The first book in my young adult book series, Emerson Page and Where the Light Enters, was acquired by a publisher and launched in November 2017. I’m currently working on the second book in the series. A recovering multi-tasker, I’m equally at home in front of my Mac, on my yoga mat, walking my rescue dog, Phineas, traveling with a purpose, or practicing the high-art of people watching. I also cut up small bits of paper and put them back together as a collage artist. My company: I’m bringing together all of my business and creative career paths as the Founder of Double or Nothing Media: • I craft products, programs, and projects that make a difference; • I build the business plans that make what I craft financially sustainable; • I tell the stories that matter about the people, places, and products that inspire me. Follow my adventures on Twitter at https://twitter.com/christanyc and Instagram at https://instagram.com/christarosenyc.

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