If you’re an everyday trader, you probably have heard some version of the story “Wall Street wants Trump to win.”
You’re told to believe that Wall Street likes Trump, or likes Republicans because they keep taxes lower and stimulate the economy.
So you might be surprised to see a headline like this from CNBC:
Wall Street spent over $74 million to back Joe Biden’s run for president, topping Trump’s haul
A Common Misconception
The problem is that Wall Street actually doesn’t care who wins in Washington, at least, not much.
Oh, sure, individuals may want a particular candidate to win. Obviously, Mike Bloomberg wasn’t donating money to Trump, nor was Ken Langone of Home Depot giving a lot of money to Biden.
But overall, Wall Street doesn’t care as much about who wins elections as we think they should, because they don’t have to.
They have bottomless pockets and can spend money on whoever they want. And they can buy out political candidates to protect them even as those politicians step on and screw the little guy.
Wall Street can donate $74 million to Biden because they knew that if Biden won, he’d look at his donors and figure out how to reward them for their loyalty.
And when he’s in the White House, he won’t care that a lot of the same people were also giving money to Trump.
That’s how it works. These Wall Street and Washington elites are playing a game and the only losers are everyday folks.
What Can You Do About It?
But that’s not a reason to lose hope. That’s a reason to get even. And that’s why we’re here.
The first step to not being a victim of these games is to know that they’re being played and that you’re at risk.
The next step is to plan a strategy to start to play your own game and start to win it.
That’s where we come in!
Trading is essentially all about taking back a little bit of what Wall Street has taken from you.
And if you start to do that, and do it successfully, then you too won’t have to worry so much about who wins in Washington, either.