Ric’s Analysis of America's Decision on the Election

Plus, Ric reveals the biggest winner of all 

 It's Wednesday, November 6th, and we have a presidential decision. Donald Trump, of course, as you know, has won the 2024 election. And, I think everybody is surprised at the speed with which the election was determined.

My first prediction was that we weren't going to know for days, possibly weeks. Because the polls had suggested that so many of the contested states were so close, too close to call that it would take quite a long time to figure them out. We knew in the wee hours of this morning that Donald Trump had secured 270+  electoral votes.

The outcome of this election is not a shock, not a surprise if you went through the exercise of using my election tool that I provided for you throughout the month of October.  My Excel spreadsheet that so many of you have downloaded and used listed the 34 categories, the topics, the issues, the policy platform positions that were subject to conversation by Donald Trump and Kamala Harris.

And if you went through that exercise, the focus of that tool was to help each of us decide which candidate do we like better, who do we want to vote for?  I created that tool to help me because I was in the undecided category. If you took a different perspective on that toolkit and said, "I'm going to use this to try to predict who's going to win", it was pretty clear what the result was going to be.

Kamala Harris won on the issues of character. Very clearly. I don't think really there was anybody in the country who was arguing that Donald Trump's. character was superior to that of Kamala Harris. So, she won on the issue of character and ethics, morals, values, racism, bigotry, religious freedom. Kamala Harris clearly won on that issue.

She also won on climate change in the environment because she cares about climate change and the environment. Donald Trump frankly doesn't, other than the economic impact of it. And Kamala Harris clearly won on the abortion and contraceptive freedom issue.

Those were three very big topics in this year's presidential campaign. Character of course, the single most dominant issue many people were choosing. It's either character or it's policy. And for a great many Americans, nearly half as it turns out, character was really the only issue that they cared about, which is why the race was so close and why Harris was doing so well.

Many others were citing abortion and contraceptive freedom as the #1 issue. And clearly, Kamala Harris and the Democrats own that issue. Climate change and environment was of a much lower concern for most Americans. There were very few who were single issue voters on that particular topic.

Harris also won on the issue of housing and homeownership, judicial reform, presidential nominations, veterans affairs, drug addiction, treatment and incarceration.But guess what? Nobody cared about those. I don't know anybody who was voting particularly because of Kamala Harris's position on homeownership and certainly not on veterans affairs or drug addiction policies. In the opinion of most Americans on these issues? It wasn't really making any difference when it came to the voting booth.

And on a couple of really big issues: LGBTQ and the transgender issue, Kamala Harris blew it.  Not because her viewpoint was wrong, but because it was out of step with the majority of Americans. She also lost big on the student loan issue and on her choice of vice-president. On the student loan issue, she was simply on the wrong side, thinking that giving away hundreds of billions of dollars to people who rightfully ought to be repaying their student loan debt angered a lot of Americans who worked and struggled really hard to pay for college for themselves or their children. So, she lost on that topic.

And she also lost on her choice of Tim Walz, who proved to be a knucklehead and didn't engender the support that she was hoping for. He was going to produce either in the Midwest or elsewhere in the country. And he didn't fare very well against J.D. Vance in their one and only debate.

Kamala also failed to win on healthcare. Healthcare is typically a very important issue. The Democrats generally perform better on this than Republicans, but Kamala failed to make this a successful conversation and it kind of got lost.

And perhaps most notably from my perspective, near and dear to my heart, Kamala lost big time on the topic of crypto. The Democrats have been anti-crypto for years, Joe Biden strongly opposing it, supported by Elizabeth Warren and Bernie Sanders and their choice of SEC chair, Gary Gensler, one of the staunchest opponents of crypto. Kamala tried,but failed miserably in persuading the crypto community that she would be on their side.

Trump won big time on crypto, but more importantly, Trump won on the topics that people voted about. Not necessarily the topics that people cared about, but the ones they voted about. First and foremost, of course, the economy and jobs. That old adage, it's the economy, stupid, prevailed once again in a presidential election here in 2024.

Trump also won on national security and particularly Israel. Kamala Harris lost big time on that issue when she placed qualifiers on her support for Israel in its defense against the attacks from Hamas and so many others throughout the region.

Trump also won big time on immigration and border security. No, wait, let me invert that. Trump didn't win on immigration and border security. Harris lost. For four years, the Biden administration, with her as the so-called border czar, failed miserably at controlling the borders and stopping illegal immigration. This was a big win for Trump. He was also stronger on crime and guns.

Crypto, as I'd mentioned that Kamala lost. Trump has been overtly supportive of crypto, even going to the biggest Bitcoin conference of the year this past summer, announcing his total support for crypto and saying that he'll fire Gary Gensler on day one.

Trump also won on energy, higher education, regulation. He's going to bring Elon Musk in to help reduce government regulation.  Trump also won on transportation and infrastructure and even on the topic of euthanasia, which you would have thought would have been a Democrat-supported position. But Kamala blew it there by announcing her opposition.

But again, those topics, energy, higher ed, regulation, transportation, euthanasia, nobody was really voting on these issues. They were really voting on the few issues of the economy, immigration and national security.

It's worth highlighting crypto in the conversation on the economy, not only because Trump has been so strongly supportive of crypto, but because the Democrats have been so strongly opposed to it. One of the most important races this year was in Ohio in the U. S. Senate race. Democrat Sherrod Brown lost his re-election campaign, defeated by Republican Bernie Moreno.

This is really, really noteworthy for a couple of reasons. First, the reason that Sherrod Brown lost is specifically because of his opposition to crypto. The crypto community has been fed up over the past several years over the lack of support they have gotten from Democrats in the Senate and in the House. And they have amassed a half a dozen political action committees that raised more than $200 million, making them one of the most powerful PACs in the country. Up there with agriculture big pharma and banking. And they were throwing money at candidates that they liked and against candidates they didn't like and #1 on their hit list was Sherrod Brown of Ohio.

Why? Because Brown was the Chair of the Senate Banking Committee, the most influential committee in the Senate regarding crypto legislation. Brown was a staunch opponent. He was a blockader. He refused to allow any crypto legislation through and he put a target on his back. The crypto community worked really hard to defeat him and they succeeded. And in the course of doing that, they not only succeeded in getting rid of Sherrod Brown, they also succeeded in flipping the Senate to the Republican majority control, diminishing Elizabeth Warren and Bernie Sanders and their influence and inserting the pro-crypto lobby into the U. S. Senate.

You add this to a Donald Trump White House and regardless of what happens in the House, because we won't know yet for several more weeks likely as to which party controls the House. It is very likely that we're going to see a lot of crypto legislation in the coming four years. And that means the biggest winner in this election is Bitcoin. Bitcoin jumped 7% percent on the news that Donald Trump was elected once again. It's now over $74,000.

Gary Gensler will be out at the SEC. The government obstacle is gone. You can watch for new regulations, new laws, the laws and regs we need, and that for years we've been asking for. That the Democrats persistently refused to provide. And with more than 50 million Americans owning Bitcoin right now, you can be certain that this was an issue in the voting booth. And when you compare the projected performance of Bitcoin over the next four years to that of the stock market, Wow, it's a stark contrast.

Goldman Sachs, just last week, says they predict that the stock market is going to grow only 3% per year for the next 10 years. Bitcoin is going to become the investment of choice for institutions, pension funds, endowments, sovereign wealth funds, hedge funds, family offices. As well as for ordinary financial advisors and RIAs.

And the price of Bitcoin is going to double, might even triple, in just the next year. Well on its way to $420,000 by the end of the decade, the prediction I gave you a year ago. Remember, Bitcoin is only $74,000 right now.

We are still waiting for the results in the House of Representatives. We're not going to know for a few days, maybe even a couple of weeks, because some of these races are very, very close. Lawsuits are likely in some of those races. And, as you know, I made a couple of predictions that we wouldn't know the results of the election for days or weeks, that lawsuits are going to be likely.

My third prediction? God forbid, I hope we do not see violence over the next four years. However you voted, whoever you supported, let us pray for the safety of our elected and appointed officials, and for the safety and prosperity of our nation.

Hey, coming up,I invite you to join me for my next webinar. It's next Wednesday, November 13th, 1:00pm EST. If you're in retirement and you're looking for ways to generate income in the middle of an environment where we have declining interest rates, I’ve got a webinar just for you. I'm going to be joined by Rene Reyna and John Burello of Invesco. And we're going to show you some ETFs that are designed for investors who are seeking growth, consistent monthly income, and lower volatility.

The webinar is free. If you're an advisor, you get one CE credit. You can sign up right now. The link to do so is in the show notes. Look forward to seeing you next Wednesday, November 13th, 1:00pm EST.

If you like what you're hearing, be sure to follow and subscribe to the show, wherever you get your podcasts, Apple, Spotify, YouTube, and remember leave a review on Apple podcasts. I read them all. Never miss an episode of The Truth About Your Future. Follow and subscribe on your favorite podcast app.  

I'll see you tomorrow.

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Links from today’s show:  

Click here for Ric's worksheet on evaluation of the candidates

The 34 Issues of Election 2024 – The Daily Podcasts https://thetayf.com/blogs/this-weeks-stories/tagged/election-2024

Kamala Harris Official Campaign Website Policy Page: https://www.kamalaharris.com/issues/

Donald Trump Official Campaign Website Policy Page: https://www.donaldjtrump.com/platform

11/13 Webinar - An Innovative Way to Generate Income in a World of Declining Rates: https://www.thetayf.com/pages/november-13-2024-an-innovative-way-to-generate-income

10/9 Webinar Replay- Crypto for RIAs: Yield, Staking, Lending and Custody. What’s beyond the ETFs? https://dacfp.com/events/crypto-for-rias-yield-staking-lending-and-custody-whats-beyond-the-etfs/

Certified in Blockchain and Digital Assets including Crypto Taxation Course/Webinar: https://dacfp.com/certification/

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