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My Reaction To Economic Talk At Presidential Debate
Today’s letter is brought to you by Domain Money!If you’re reading this right now you don’t need financial advice, if you did you would use Domain Money, a company of flat fee financial planners that craft you a personalized, in-depth plan with unbiased, straightforward, and real sound advice based on your values and goals, but you are all better than that. You know about money. That’s why you’re here. If you had questions, you’d use Domain Money. See Disclaimer below¹ Book A Free Strategy Session Today To investors, The Presidential debate was a circus last night. Rather than a conversation focused on policies and results, the American people were subjected to a poorly scripted theatrical performance by two candidates who seemed to be focused on scoring internet points. Anyone with eyes could see that the moderators were biased, Trump took multiple pieces of bait pushing him into an angry rhetoric, and Harris dodged every question about her track record like Mohammed Ali in his prime. However, my biggest takeaway was not the things said during the debate, but rather the things that were not said. The American economy is in a precarious position. Inflation currently sits nearly 25% higher than the Fed’s target of 2%. Home affordability is the worst it has been in decades. The national debt is skyrocketing to more than $35 trillion. Over half the country reports living paycheck-to-paycheck and tens of millions of Americans don’t have enough savings to cover a $400 emergency payment. There are real problems that must be solved. Neither candidate presented a plan on how to address these issues. There was no promise of getting inflation down, nor a believable plan on how to do it. Both candidates just kept blaming each other for what happened in the past and tried to convince the public “it wasn’t me!” Not one word was uttered on how to address the structural issues in housing so American families can afford a place to live. Saying housing is unaffordable doesn’t count as a plan, nor does promising to give people free money for down payments, especially since that would make the affordability problem worse. And in one of the most shocking developments, there were zero mentions of a desire to balance the annual budget. Imagine the United States running a nearly $2 trillion deficit annually, with the national debt accelerating, and the individuals who want to be the next President don’t even mention the issue. Wait, you don’t have to imagine. That is literally what happened last night. We can’t solve our problems if we don’t talk about them. And candidates won’t present solutions to the problems unless they believe the American people will change their vote in November based on the economic plans. Instead of focusing on nonsense like taxing unrealized gains, we need more people asking for specificity on getting inflation down, balancing the budget, dropping the national debt burden, and increasing the quality of life for hard-working Americans. Many people vote with their wallets. Last night was a missed opportunity for either candidate to present themselves as the economic leader who could get the job done. Hopefully that changes for the next debate. The American people deserve to know what our next leader plans to do for the US economy. And my guess is the candidate who seizes the moment will capture real momentum going into the November vote. Hope you all have a great day. I’ll talk to everyone tomorrow. -Anthony Pompliano Founder & CEO, Professional Capital Management Reader Note: BUILD Summit, our annual conference in NYC for founders, is coming up next month on September 26th. The event will provide top tier speakers, networking opportunities, and insightful business discussions on raising capital, scaling businesses, and building products. Current speakers include angel investor Balaji Srinivasan, Khosla Ventures’ Keith Rabois, Perplexity CEO Aravind Srinivas, Eight Sleep Founders Matteo Franceschetti & Alexandra Zatarain, and Passes CEO Lucy Guo. The event is free to attend and will be full of insights on how to operate a company at world-class level. RSVP for Free Attendance to Build Summit Polina Pompliano, Author of ‘Hidden Genius’ and Founder of The Profile, and Anthony Pompliano, CEO of Professional Capital Management, discuss what is going on with bitcoin, future catalyst, and price outlook into bull market, we break down the OnlyFans business, shocking revenue share breakdown, SpaceX, Starlink, Elon Musk, and predictions for the Presidential debate. Listen on iTunes: Click here Listen on Spotify: Click here Anthony & Polina Pompliano Discuss Bitcoin, Presidential Debate, OnlyFans Financials, and Elon Musk’s StarlinkPodcast SponsorsGemini is the safe and secure way to trade crypto. Use code Pomp100 and start trading crypto to earn $100 in BTC. Xapo - Xapo Bank is the only way to bank with Bitcoin. CrossFi isthe Apple Pay for Crypto. For the first time in history, anyone with a web 3 wallet can spend crypto through a physical or virtual Visa card where Visa is accepted. Domain Money makes financial planning straightforward and accessible.They tailor plans to your personal priorities and goals, whether it’s buying a house, funding college, or taking that dream vacation. iTrustCapital allows you to buy and sell cryptocurrency in a tax-advantaged crypto IRA. Open and fund an account today to receive a $100 USD funding bonus. ResiClub - Your data-driven gateway to the US housing market. Professional Capital Management - Anthony Pompliano’s asset management firm is now on Linkedin. Please subscribe by clicking here. You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research. 1While I am not a financial advisor and can’t give financial advice, Domain Money has board-certified CPAs who can give you financial advice and keep you on track to reach your goals. 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