Extreme financial hardship brought dramatic changes in the past to Germany and the US according to an article by Niels Clemen Jensen at ARP Investments. In Germany, hyperinflation in 1923 and the following Depression brought Hitler to power and led to the rise of Nazism.

The Great Depression in the 1930s led to the dumping of Republican President Hoover and the election of Democrat Franklin Roosevelt by a landslide.

In 1928, Republican Herbert Hoover won both the popular and electoral votes to become the President as shown in the chart below:

Click to enlarge

However after years of suffering in the depression, the American population turned against Republicans and voted in Democrat Franklin Roosevelt.

Source: Five Lessons from History by Niels Clemen Jensen, The Absolute Return Letter, February, 2020

More recently financial hardship directly led to the election of President Trump in the last election including “deplorables” voting for a change.Out of desperation rural folks such as coal miners and others decided to go Republican.

Here is the million dollar question now. Economic issues helped Trump win the last time.With the economy going strong, will voters re-elect him again this time or look for a fresh face in the highest office of the land?