In 1824, Andrew Jackson ran for President against John Quincy Adams. In a highly contentious outcome, Adams struck a deal with Henry Clay which denied Jackson the presidency and gave Adams the highest office in the land.
It was called by Jackson a “corrupt bargain” and he used it the next four years to discredit Adams and his government.
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In 1828, Jackson won the Presidency by defeating Adams. Jackson, known for his military leadership and great victory in the Battle of Orleans, was the father of populism and coattails in government.
In April of 2016, Treasury Secretary Jack Lew decided to replace Andrew Jackson on the front of the $20 dollar bill and replace him with Harriet Tubman, a former slave and abolitionist.
When Donald Trump defeated Hillary Clinton this week to become our country’s President elect, he used Jackson’s playbook populism strategy of speaking to the common man.
The implications of the election are huge, in my opinion. With respect to future policy, financial markets see a Trump Administration enacting policies which help many industries suffering from Obama’s heavy regulatory touch.
Energy will benefit from a far less intrusive Department of the Interior, far fewer restrictions on exploration, and a more welcoming attitude towards building infrastructure like pipelines.
The healthcare industry may have to deal with less criticism about drug pricing. Insurers are jumping for joy over the prospect of a repeal of the Affordable Care Act.
Cable and telecommunications providers may see the whole debate over net neutrality wane.
All over the corporate landscape, high fives are being given about the possibilities of a lower corporate tax rate and a relief on the repatriation of capital from overseas subsidiaries.
In education, the private suppliers of secondary schooling might see welcome relief after being devastated by financing restrictions.
Builders, material suppliers, and engineering firms also can look forward toward far more aggressive fiscal policy to repair the country’s aging roads, highways, bridges, and ports.
The defense industry should see a boost in spending from its largest customer, the Federal Government.
The high tech industry may feel some pressure about encryption and H-1B visas, but will benefit from a lower potential tax rate on repatriation of foreign profits.
As for losers, certainly the alternative energy industry comes to mind, as does any industry which relies on foreign manufacturing of its products.
You knew this election was a win-lose proposition, and the judgment has now been rendered.
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