Barack Obama opened his presidential center in Chicago. Former presidents showed up. Celebrities showed up. Dignitaries showed up. Donald Trump did not show up.
The center cost over $700 million and sits in Jackson Park. It will house archives and host events where people can remember when they felt better about things. The building's primary function is converting wistfulness into foot traffic.
George W. Bush attended. Bill Clinton attended. Jimmy Carter probably would have attended if he were still alive. Wait, he was alive when this happened. The man defies actuarial tables like they're suggestions.
Trump skipped it. This surprised nobody. The guy doesn't attend events where he's not the centerpiece unless someone tricks him into thinking there's a better buffet. You could host a summit to prevent nuclear war and he'd send Melania if it conflicted with his tee time.
The real story is what happens next. Tourists will visit. School groups will take field trips. Everyone will stand in front of exhibits explaining decisions made in 2011 and pretend those decisions still matter to their portfolio. They don't.
Presidential libraries exist so retired politicians can point at stuff and say "I did that" while donors write checks to feel proximity to power they no longer possess. It's a pyramid scheme with better architecture.
Retail traders will somehow find a way to lose money on this. They'll buy commemorative coins. They'll invest in South Side real estate three years too late. They'll convince themselves that Chicago municipal bonds are undervalued because of renewed civic pride.
The dedication featured speeches about hope and change and the future. None of those words mean anything to your brokerage account. The S&P doesn't care about ribbon-cutting ceremonies. Neither should you.
But you will anyway, because you're bad at this.
Photo by Unseen Histories on Unsplash
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