Finance teacher Ramit Sethi Don't be afraid to talk about politics. He was very critical of Trump's tariffs, which led to some telling him to knock it down. It seems that when any celebrity or influencer talks about politics, people who don’t like that person’s point of view want the political conversation to be lowered.
For some industries, discussing politics makes more sense than others, and finance is one of them. You don't have to bring politics into every conversation, but it makes sense to discuss politics when it comes to finance. Sethi explains the reason briefly.
"Money is political," he said in a recent Tiktok.
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Sethi explains the role of currency in politics and why it is important to put politics at the forefront of financial dialogue.
SETHI first explains how politics affects the prices of key investments and services. Some people need medical services to live, but higher costs can be priced. Medical expenses are one of the main reasons people file for bankruptcy, so political issues surrounding health care affect personal finances.
Sethi makes the same claim on housing and university tuition. Politicians can shorten the maximum mortgage period or prevent large investment firms from swallowing up single-family homes, but that is not the case. Trump did not do this during his first term, nor did Biden do this.
"This is the political choice for the United States to keep the house expensive," Sisi said.
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The same logic applies to universities. College tuition soared when student loans were introduced. Strict guardrails around student loans can make colleges affordable for everyone. Talk about these issues can cause debate and allow people to discuss constructive solutions that can improve people’s financial situation.
Money and politics are intertwined.
Sisi also explains how politics affects the stock market. This is a big deal for finance because people put money into the stock market to retire. Tariffs, geopolitical tensions and fiscal policy are some of the forces that affect stock prices.
People want to know how to navigate the stock market and what to monitor. They look at earnings reports and industrial trends to evaluate which stocks are worth buying. Politics will also affect the stock market, and investors want to stay informed.
Later in the video, he claimed that Trump inherited a great economy from Biden, which has recovered better than any developed country. Sethi asserted that Trump had put the economy in trouble and believed to his supporter Gas that Biden's economy was terrible.
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Sethi then signed Trump’s tariffs, saying they taxed the poor and the middle class. Since many products are produced overseas, tariffs make most products more expensive. Companies that exclusively make all manufacturing in the United States can handle tariffs well, but these companies may also rely on overseas materials to create their products.
Additionally, U.S. companies not affected by tariffs may increase the price of their products and services. Sisi later said he believed Trump was using the theory of tariffs so that companies could pay him to make exceptions.
Sisi suggested in the video: “(He) basically set up a bribery structure for him.”
Tariffs are policies that have a significant impact on people's finances. That's why financial influencers discuss politics. It’s hard to talk about personal finance without raising major political issues that affect people’s wallets.
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This article Ramit Sethi explains why he won't stop talking about politics: "Money is political" originally appeared on benzinga.com.
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