"History may not repeat itself but it often rhymes." Mark Twain
Today's primary concern is that from a historical perspective, the last time the U.S. unilaterally enacted tariffs on incoming goods was the Smoot-Hawley Tariff Act that was signed into law by Herbert Hoover in 1930. Of course these events occurred well before my time but being a bit of an investment historian geek it's clear that knowing what happened in the past can be instructive in today's environment. Spoiler alert. The results of those tariffs was a disaster for both American and international business and trade.
My second concern is the general feel of the advice I'm reading in some of today's financial blogs and articles, many which seem to suggest that today's U.S. tariffs won't last for long or just stay the course and don't worry about it. Meanwhile, American Republicans are saying they're ready to double down on the tariffs they've just enacted. Read into those differing messages what you will.
So, should you be taking some kind of corrective action with your current investments?
To paraphrase a previous post from 2012: Financing My Retirement Part One "Like with most things financial, unfortunately there are no one size fits all solutions because everyone's family, finances, current and future needs and wants are quite different from each other. Professional investment prescriptions can depend on many things, including health, ages, assets, current income, how much income you want and the estate outcomes you want and can afford."
Along these lines, we offer professional investment advice and solutions that provide investment safe havens, principal guarantees and income streams that are guaranteed for life.
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