I have spent most of the last week on Zoom calls with accountants in New York, trying to figure out the personal finance implications of moving to the UK – lugging dual citizenship behind me. (Short version: they’re not good.) Since these conversations deal with economic outcomes it has felt, as a matter of form, necessary to mention that given the US just elected a maniac, at some level – don’t we think? – all bets are off. Joking not-joking: we can talk about pensions or college savings until the cows come home but really, why aren’t we screaming? A remark that has elicited, to a man, either blank looks or cheerful entreaties not to be so alarmist.
It is three weeks since the presidential election and, crazy cabinet picks aside, Americans are in that strange interim period where normality resumes, and it is possible to convince ourselves that actually this might not be so bad. The markets are holding steady, helped by a sensible pick for treasury secretary (unlike other Trump cabinet picks, Scott Bessent, a billionaire hedge fund manager, has – so far as we know – never been accused of sexual assault, had a white nationalist tattoo, or taken part in an exhibition wrestling match). Trump’s threats to tear up the script on tariffs and immigration on day one are unnerving, but his follow-through skills can be weak. Technically, he’s a lame duck president. And so on. Meanwhile, real life continues.
