Category Archives: Dawn J. Bennett

Dawn J. Bennett & Joran Goodman Discuss President Trump

Dawn J. Bennett, host of the nationally syndicated radio show
Financial Myth Busting, recently interviewed Jordan Goodman on her show. Goodman is a former journalist at Money, the leading personal finance magazine, as well as the host of Money Answers, a weekly national radio show. Goodman has also authored 14 books, with The Ultimate Guide to Student Loans being the most recent.

On Financial Myth Busting, Bennett and Goodman discuss President Trump. Bennett notes that Trump’s Inaugural Address was provocative. In it he says his presidency will be a real break from the past eight years.

Goodman says the address was much like his campaign speeches. “It did not have the usual soaring rhetoric that people are used to in these kinds of things,” he says. “It was ‘America first. Hire American. Buy American. Forgotten people.’ It was very much like his campaign speeches, and I think he’s going to continue the same way, whether people like it or not.”

Goodman says he is hopeful about Trump’s presidency. He explains that Trump is a businessman and is going to run the country like a business, which has certain advantages.

“It’s the government, different from business, but getting regulations down… we’re vastly over-regulated,” Goodman says. “The industry that you’re in, the financial services industry, this fiduciary rule that’s coming is a good example of massive over-regulation for a problem that didn’t exist that much, and it’s going to hurt a lot of people, both financial advisers and customers. I think that could be rolled back or eliminated.”

He continues, “I think in the energy industry, we have a huge amount of regulations that are preventing drilling, environmental regulations and so on. I could go through a whole series of things. With Obamacare, 20 million more people have gotten insurance than had it before, but at a huge cost. People can’t afford these premiums, which on average went up 25 percent on January 1st. Arizona, 116 percent. Many states over 50 percent. That’s because of regulations. So, if you get regulations down, you’re going to free up what John Meynard Keynes, the economist, used to call the ‘animal spirit.’ I think you’re already seeing that, certainly, in the stock market, so that’s why I’m hopeful.”

Goodman says what he is most concerned with Trump’s presidency, though, is trade wars, particularly with Mexico, Japan, and China.

“He [Trump] has very strong rhetoric, and maybe that’s a bargaining ploy, and maybe it will work,” explains Goodman. “Maybe we’ll get better deals, maybe our trade deficit will come down with these countries, but I think the opposite could happen. If we don’t get a deal we want, and he does put a 35 percent tariff on them, they’re clearly going to retaliate and make it hard for American goods to go there as well. That’s my biggest economic concern. Then politically, I’m concerned about wars. In the South China Sea, or if we move the embassy in Tel Aviv to Jerusalem and that causes a Middle East war. Those are the kind of things I’m most concerned about on the down side. He didn’t get elected in China, so the Chinese aren’t his constituency. So that’s what I’m most concerned about is getting into trade wars.”

To view the complete discussion between Dawn J. Bennett and Jordan Goodman, click here.

Dawn J. Bennett, host of the nationally syndicated radio show Financial Myth Busting, recently interviewed Jordan Goodman on her show. Goodman is a former journalist at Money, the leading personal finance magazine, as well as the host of Money Answers, a weekly national radio show. Goodman has also authored 14 books, with The Ultimate Guide to Student Loans being the most recent.

On Financial Myth Busting, Bennett and Goodman discuss President Trump. Bennett notes that Trump’s Inaugural Address was provocative. In it he says his presidency will be a real break from the past eight years.

Goodman says the address was much like his campaign speeches. “It did not have the usual soaring rhetoric that people are used to in these kinds of things,” he says. “It was ‘America first. Hire American. Buy American. Forgotten people.’ It was very much like his campaign speeches, and I think he’s going to continue the same way, whether people like it or not.”

Goodman says he is hopeful about Trump’s presidency. He explains that Trump is a businessman and is going to run the country like a business, which has certain advantages.

“It’s the government, different from business, but getting regulations down… we’re vastly over-regulated,” Goodman says. “The industry that you’re in, the financial services industry, this fiduciary rule that’s coming is a good example of massive over-regulation for a problem that didn’t exist that much, and it’s going to hurt a lot of people, both financial advisers and customers. I think that could be rolled back or eliminated.”

He continues, “I think in the energy industry, we have a huge amount of regulations that are preventing drilling, environmental regulations and so on. I could go through a whole series of things. With Obamacare, 20 million more people have gotten insurance than had it before, but at a huge cost. People can’t afford these premiums, which on average went up 25 percent on January 1st. Arizona, 116 percent. Many states over 50 percent. That’s because of regulations. So, if you get regulations down, you’re going to free up what John Meynard Keynes, the economist, used to call the ‘animal spirit.’ I think you’re already seeing that, certainly, in the stock market, so that’s why I’m hopeful.”

Goodman says what he is most concerned with Trump’s presidency, though, is trade wars, particularly with Mexico, Japan and China.

“He [Trump] has very strong rhetoric, and maybe that’s a bargaining ploy, and maybe it will work,” explains Goodman. “Maybe we’ll get better deals, maybe our trade deficit will come down with these countries, but I think the opposite could happen. If we don’t get a deal we want, and he does put a 35 percent tariff on them, they’re clearly going to retaliate and make it hard for American goods to go there as well. That’s my biggest economic concern. Then politically, I’m concerned about wars. In the South China Sea, or if we move the embassy in Tel Aviv to Jerusalem and that causes a Middle East war. Those are the kind of things I’m most concerned about on the down side. He didn’t get elected in China, so the Chinese aren’t his constituency. So that’s what I’m most concerned about is getting into trade wars.”

To view the complete discussion between Dawn J. Bennett and Jordan Goodman, click here.