Side Note: Last month I featured the topic of mass deportations of undocumented workers proposed by the incoming leadership, and it was clearly a sensitive topic. I received more letters and comments than I’d ever received over any article I had written, including the years I was publisher of Tualatin Life. I had an equal amount of opinions from both sides, but all were passionate and convinced of their thinking, no matter which side they were on.
2025 will clearly be a year of many changes. As we await the influence the new administration will have upon our economy and our lives, some are quite fearful over the changes being bandied about, while others are seemingly quite confident that we are in for some very good economic times in our very near future.
In the past month I’ve had the opportunity to speak to several people who are extremely optimistic about what is about to transpire, so I thought I’d share some of their thoughts as it might be interesting to hear their perspective.
One financial planner, who I know to be quite successful, was completely bullish on the economy in both the short and long term. Her specific comments were that Trump’s goal of bringing manufacturing and production back to the US will help our labor market. I asked about the impact of less laborers (those deported) to do this production, and she theorized that it will simply be filled by raising the rates of labor, so the workforce would benefit by higher wages and more secure employment. I asked if that wouldn’t be inflationary, and she simply said that the higher wages would compensate for that.
A banker who I’ve known for years, who is also very much behind the projected financial moves proposed by the Trump administration, anticipates a period of softening inflation mainly because he thinks oil prices will drop, making gas cheaper across the country, positively impacting most Americans. He thinks the less regulation across the board is good for business. He also added that my industry, the staffing business, will flourish as he foresees expansion in all sectors, creating many new jobs for years to come.
Lastly, he spoke of the favorable business environment generally for those businesses that choose to do more business domestically, and less importing of goods and finished products manufactured overseas. In other words, those who get with the program will flourish more than those who don’t.
Much remains to be seen if these particular financial expert’s optimism is warranted, as I am guessing there are an equal amount of experts who would disagree, but in the meantime, I thought it important to share these positions, as difficult as it is for some to fathom.
Much has been said about how divided this nation is, but it’s important to listen to and hear the logic behind both sides if we are to understand each other and flourish as a nation united. The election is over and in just a couple of weeks a new administration will lead our nation into the future.
Wishing all a positive, happy and prosperous 2025.
