The Press Is Bunk! Thoughts On Political Discord

By Christopher R. English, President of Lumen Capital Management, LLC                          

As we approach the end of this year (and decade), I’ve taken some time to reflect, but surprisingly not on the markets. Though the past 10 years have brought us much to talk about from a financial standpoint, I’m going to save a review of the markets for another time. 

From what I hear from clients and others I’ve talked to, I’ve observed a deep-seated anxiety about the direction our country is moving. As you know, I don’t write about politics other than stating known facts and how they play into the financial world. But multiple conversations have led me to address this undercurrent of pessimism. Please forgive my veering away from my usual discussions of all things financial. More of that will definitely be coming later this winter!

A Look Back At American History

While I understand where the overall pessimism comes from, I’m more optimistic than most. Here are a few reasons why.

First, we all know there are fissures in American society. There always have been and likely always will be. It is harder to drown these out today given modern communication tools, but heated political debate has been a constant since the founding of our Republic. George Washington famously spoke against factions while he was President, but the country paid him no heed. Many believed the nation wouldn’t survive once the unifying presence of Washington left the scene. Yet survive and thrive the nation did.  

Whatever we’re witnessing today pales in comparison to the butchery of the Civil War. Yet even then, Americans were able to bind their wounds and come back together as a nation, though bitterness remained and the promises of the war were left unfulfilled for people of color for another 100 years. The Great Depression came close to undoing us, but we pulled together to fight and win World War II. The 1960s were a truly ugly period. Cities burned while we fought an unwinnable war in Vietnam. Many of the old structures were overturned as the chits from Reconstruction were turned in. We survived that and we’ll get through this period as well.

If you listen to the view spewed daily by the press, America is more deeply divided than ever. The media and political class speak of an America that is so polarized that people are willing to turn on each other, even to the point of violence. The media panders to this narrative while locked up in their fortresses on the east and west coasts and especially in Washington D.C. The further away you get from these places, the less you notice the discord. Away from the glare is where one sees not just our differences but the ties that bind us to each other. The motto of the United States may read “from many, one,” but the inverse of that is true as well. From the one comes many and in that multiplicity is our strength.  

These United States are a nation of enormous geographic range and diversity.  It is sometimes hard to imagine the enormity of the country. That vastness also spans four time zones and everything from tropical climates, mountainous regions, deserts, island paradises, and the Arctic Circle. What eventually became the United States was first colonized and still inhabited by the indigenous nations, then came the Spaniards and immigrants from England, then those from all parts of the globe. Polynesians settled what became Hawaii, Acadians became the Cajun peoples of Louisiana. Our country reflects all of these groups. Many of us came as free peoples, some came involuntarily as slaves. Most of us have either arrived or had ancestors that arrived speaking a language besides English. We either worship or don’t worship as we please, doing so in many different ways. Most of us either have experience or had ancestors that experienced being the “Other.” Irish, African Americans, Italians, and now Hispanic peoples are a small list of groups who’ve had to fight for a place at the American table. And we are good at fighting. You could argue that it’s bred into our DNA. The country was birthed in revolution and we’ve experienced or known how to use violence ever since. We know how to throw a punch or fling venom with words.  

Different, But Not Necessarily Divided

We are, therefore, a polyglot of people, representing many, many things. But what I can tell you is that when you get down to it, people are pretty much the same everywhere. While we may not agree with each other on everything, we all have a lot more in common than many would have you believe. I travel far and wide in this country, and many of the places I have visited are not glamorous. Nobody goes to my hometown of Union City, Indiana, to see the sights, nor to any of the other places I’ve been that are off the beaten path. I found it interesting that a caddie that worked for me out in Oregon shared many of the same sentiments with a woman I met on a plane from Birmingham, Alabama. Some of the wealthier people I know harbor sentiments not too dissimilar from folks who are less well off.   

We are told that the old hatreds and prejudices will never go away. For some, this is correct. In a nation of over 300 million people, you will always have some like that. Yet America has also elected an African American as president and Chicago elected a female, gay woman of color as mayor this year, with resounding margins. This would have been impossible not that long ago. South Carolina, that bastion of the Old South, twice elected a woman as governor whose parents hail from the Punjab in India. Turns out, many people usually care more about putting the most competent person in the job than worrying about all these other things. Few today seriously believe that among those running for the Democratic nomination, sexual preference, gender, or race should disqualify any of the candidates from potentially becoming president. They’ll rise or fall on their ideas and vision for the future, among other issues. On these things, our country has changed for the better. Let’s not let any of that get lost when the media tells us how bad things are. 

When all you hear is negative reports, remember what doesn’t get said, like the outpouring of aid and effort after a calamity or natural disaster. After a hurricane, you see members of the so-called “Cajun Navy” of Louisiana fishermen aiding stranded homeowners, not discriminating by race, creed, or wealth. People volunteer their time to go down to the border and help stranded immigrants. People living alternative lives hold events to buy toys for poor kids at Christmas. There was a video that aired a few years ago that shows a bridge collapsing in South Florida. While the collapse sadly killed several people and injured many more, the video shows people of all colors immediately getting out of their cars, running to help. At that moment there was no division, just the desire to do good. These things and countless more don’t get reported often enough. 

Be Careful Who You Listen To

The media and certain political entities love stereotypes. News outlets on both the right and the left love to accentuate these things, particularly their worst characteristics. Sadly, in a nation as broad and diverse as ours, you can always find evidence of the worst kind of behavior. But to take the example of an illegal immigrant that perhaps commits murder, this is a tiny percentage of immigrants here, legally or illegally. Most simply want to get on with their lives, abide by the law, and improve things for their families, which is no different than what most of us want. Remember also that the folks in the media get paid to find the bad. They hold the perspective that good news rarely sells. Data shows the most popular opinion news talk programs on both the far right or far left rarely draw more than 3 million viewers a night. Now that’s not an insignificant number, but it represents less than 1 percent of the population. In the end, the majority of us think more alike and want basically the same things, and I find that to be a positive indicator, especially in a season such as this, that’s full of hope.   

A Season Of Hope

Perhaps it’s my Midwest roots, but I carry a higher degree of optimism about the future. I hope you get a sense of this in some of my past writings. It is almost impossible for me not to be excited given the advances I am seeing in all sorts of fields around the globe, and I’m optimistic as well about the generations of young folks coming up behind us “boomers.” One of the biggest changes that has occurred in the past 10 years is that I’ve watched my children grow into wonderful young adults and, if nothing else, this letter is dedicated to them. You can bet that you’ll hear me elaborating more about why I’m so excited about the future.

Thank you for indulging my meanderings off the beaten investment letter path this one time. I am immensely grateful that you allow me the opportunity to work with you and your investments. I consider myself so fortunate to know each and every one of you. I also look forward to catching up in the new year.  Until then, from myself and my family, I wish you the happiest of holiday seasons and a prosperous 2020.  

Happy holidays, but mostly, God bless!   

If you want to catch up in the new year to review your investments, reach out to me at 312.953.8825 or by email at lumencapital@hotmail.com 

About Chris

Christopher R. English is the President and founder of Lumen Capital Management, LLC-a Registered Investment Advisor regulated by the State of Illinois. A copy of our ADV Part II is available upon request. We manage portfolios for investors, developing customized portfolios that reflect a client’s unique risk/reward parameters. We also manage a private partnership currently closed to outside investors. Mr. English has over three decades of experience working with individuals, families, businesses, and foundations. Based in the greater Chicago area, he serves clients throughout Illinois, as well as Florida, Massachusetts, California, Indiana, and other states. To schedule a complimentary portfolio review, contact Chris today by calling 312.953.8825 or emailing him at lumencapital@hotmail.com.