Truth Be Told (and It Seldom Is), Trump Is Getting It Right

 | Jun 07, 2017 | 2:00 PM EDT
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The perpetual and ubiquitous shrill treatment of all things concerning President Trump and his administration by his supporters and detractors in the mainstream media has revealed a fact about the news industry that those in it have always denied. 

That fact is that there is no mass-media organization compiling, reporting and disseminating data and information any longer, and this includes Reuters, Associated Press and similar. Everything and every event is layered with ideologically driven editorializing

This is not new, of course, but it has reached extremes since Trump's election, stirring debate on whether news organizations and those employed by them share an overwhelming liberal bias that is not only actively expressed by them in their "reporting," but is the primary message being delivered. 

Technology, especially the internet, has allowed for the creation of multiple forms of mass-scale news distribution not previously financially viable. This has afforded a plethora of other ideologically driven organizations the opportunity to meet a consumer demand that had been ignored. 

As positive as alternative sources of news are, though, none of this involves truth-seeking. It is, in fact, the exact opposite. It's just more opinions being provided a stage. 

This is not offered as a critique of the industry, or in support of it. It's simply an observation. 

The germane point, as concerns this column, is that this environment provides excellent opportunities to profit, if one can ignore the media and its editorializing, and focus on the raw facts concerning events and situations. 

As concerns Trump and his administration, he and they are successfully advancing the economic agenda that he campaigned on. 

It is a work in progress, but informing the NATO members and Far East countries, especially Japan, that they'll have to start increasing substantially their spending on defense was necessary, a campaign promise and will have a positive impact on the domestic U.S. economy. 

The same is true for restructuring NAFTA, withdrawing from the Paris Agreement, and shifting back to bilateral trade agreements from multilateral ones, which even the World Trade Organization is aware of, as I discussed in the column, "China Needs U.S. More Than U.S. Needs China." 

On the domestic front, restructuring of federal tax schemes and pursuit of some kind of infrastructure investment will also have a positive impact on the economy. 

This is not to say I'm in support of everything being done, or that I understand why some things are being done. 

Pursuing a restructuring of healthcare now is nonsensical to me. It distracts political attention away from the economy and it's being done pre-emptively, before the Affordable Care Act has collapsed on its own. 

I also don't understand why the administration is giving up on pursuing a border adjusted tax and not considering a reduction in the residential mortgage interest deduction. 

Having said all of that, though, Trump is successfully pursuing the economic vision he outlined in his campaign, and doing so with far greater success than I expected without having first filled the executive-branch vacancies. 

I am expecting the administration to get those positions filled soon, though, and to accelerate the rate of pursuing the Trump agenda as a result. 

I also expect that the more successful the administration is, the more shrill the media will become. 

That is a very difficult environment in which to make rational, objective decisions, and I suggest reading the 2012 column "Maintaining an Even Strain" to help with such. 

For traders, this will be extremely challenging. For long-term speculators and investors, the degree of stress experienced will directly correlate to the amount of mainstream media one exposes themselves to. 

This will not be a perpetual situation, though. 

I expect that as the administration's successes are evidenced, along with the initial stages of investors' approval of them, company boards and CEOs will shift to a position of public support for the president. 

Everyone wants to be on the winning team. 

I also expect that much of this transition will occur before the midterm elections of 2018.

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