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the Democrats hold fewer shares, tobacco and weapons production than donations of
the Republicans.
Another set of surveys has shown that concerns about the federal budget deficit
varies depending on which party was in power. Less than half of Democrats thought
that deficit reduction is the priority tasks performed by Bill Clinton and Barack
Obama, as the other two-thirds of Democrats gave their preference for Bush. For Re-
publicans, the results were just the opposite, according to the Pew Research Center
report.
These political leanings can easily penetrate into your investment behavior.
«People's positive mood when their party is in power makes them believe that the
world will deliver higher returns with lower risk, « says Professor of the University of
Santa Clara Meir Statman, a specialist in the field of behavioral finance. «It can be
misleading».
Indeed, one study on the behavior of some 60,000 investors from 1991 to 2002
found that people take big risks in the market, when their party controls Washington.
In the study titled «The political climate, optimism and investment decisions», it was
also found that investors affiliated with the ruling party, as a rule, are growing rest-
less and trading securities are more likely. As you can see, investing, like everything
else, not quite rationally now.
«There were some remarks, due to which small businesses are a bit more cau-
tious because of the elections. I have not seen yet, to show that it affects consumers»,
said chief financial economist at Jefferies Ward McCarthy. «I guess our approach to
elections is to drink and have fun, because we all want to die in November».
Very controversial US election where Democrat Hillary Clinton and Republi-
can Party candidate Donald Trump was expected negative impact on the economy.
Some economists point to the uncertainty as a factor affecting mainly business ex-
penses.
The National Federation of Independent Business Small Business survey for
August found evidence. The study showed a surprisingly large number of concerns
about the political situation at the level, which was not there before.
On-time high, 39 percent of business owners in the survey pointed to the politi-
cal climate as a reason not to expand the business. There was also a jump in uncer-
tainty about the economy and government policy.
As for the consumer, it is difficult to link data on retail sales of the government
to the same concern. But it was clear drop in demand for expensive purchases.
August retail sales fell by 0.3 percent, showed the first overall decline since
March. Nonstore retailers, including Amazon, saw a drop of 0.3 percent. Building
materials were off by 1.4 percent, clothing sales were a bright spot, at 0.7 per cent.