Financial guru Ramit Sethi hasn't been afraid to talk about politics. He's been very critical of Trump's tariffs, and that has caused some people to tell him to knock it off. It seems like when any celebrity or influencer talks about politics, people who don't like the person's opinions want the political talk to tone down.
It makes sense for some industries more than others to discuss politics, and finance is one of them. You don't have to bring politics into every conversation, but it makes sense to discuss politics when talking about finance. Sethi concisely explains why.
"Money is political," he said in a recent TikTok.
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Sethi explains money's role in politics and why it's important to bring politics to the forefront of financial conversations.
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Healthcare, Housing, and College Are Expensive Because Of Politics
Sethi starts by explaining how politics influence the prices of critical investments and services. Some people need healthcare services to live, but higher costs can price them out. Medical bills are one of the big reasons why people file for bankruptcy, so political issues around healthcare affect personal finances.
Sethi makes the same claims about housing and college tuition. Politicians can shorten the maximum mortgage term length or prevent big investment firms from gobbling up single-family homes, but they aren't. Trump didn't do that during his first term, and neither did Biden.
"That's a political choice that America made to keep your housing expensive," Sethi states.
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The same logic applies to colleges. College tuition soared when student loans were introduced. Tighter guardrails around student loans can make college more affordable for everyone. Talking about these issues invites debate and allows people to discuss constructive solutions that can improve people's finances.
Money and politics are intertwined.
Politics Impact The Stock Market
Sethi also explained how politics affects the stock market. This is a big deal for finance since people put their money into the stock market for retirement. Tariffs, geopolitical tensions, and fiscal policies 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 gauge which stocks are worth buying. Politics also affect the stock market, and investors want to stay informed.
Later in the video, he claims that Trump inherited a great economy from Biden, which recovered better than any developed country. Sethi asserts that Trump messed up the economy and gaslighted his supporters into believing that the economy was horrible under Biden.
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Sethi Goes Off On Trump's Tariffs
Sethi then went off on Trump's tariffs, calling them a tax on the poor and middle class. Tariffs make most products more expensive since many products are made overseas. Companies that exclusively do all of their manufacturing in America can do well with tariffs, but these companies may also rely on overseas materials to create their products.
Furthermore, it's possible that American companies that are unaffected by tariffs raise prices on their products and services because they can. Sethi then stated that he believes in a theory that Trump is using tariffs so that companies can pay him to make exceptions.
"[He's] basically setting up a structure for him to receive bribes," Sethi suggested in the video.
Tariffs are political policies that have significant ramifications on people's finances. That's why it makes sense for financial influencers to discuss politics. It's hard to talk about personal finance without bringing up big political issues that affect people's wallets.
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