2025 Review

 

I’ve learned from experience not to make predictions or resolutions at the New Year. But there is no harm in looking back over the past year and trying to assess whether it was a good year or not. In my opinion I rate 2025 as a good to very good year. Here are some reasons.

The World did not come to an End.

There are still real problems facing the world today but 2025 turned out to be a pretty good year despite dire predictions following the Trump victory. War still goes on in Ukraine but no one can say that the Trump administration has not tried to broker a peace. For the time being, the war in Gaza is over, and the Iranian nuclear program has been derailed. Despite threatening gestures China did not invade Taiwan.

President Trump has also brokered a number of peace deals, and the U.S. military must be given credit not only for the destruction of the Iranian nuclear sites, but also for the weakening of Iranian surrogates in the Middle East. 

The United States did not go down the Drain.

Predictions of doom did not materialize after Donald Trump was sworn in as President in 2025. Somehow, the nation has survived his first year as President. Despite unprecedented and vitriolic hatred on the part of his enemies, President Trump and his administration have chalked up a number of achievements. I said at the beginning of his first term that it would be wise to see what Trump does as President rather than obsess over his words and tweets. I think this still holds true today.

In his second term President Trump seems to have put together a skilled and experienced set of advisors at the Cabinet level and on down. It appears as if adults and not ideologues are now in vital government offices. It would be hard for anyone to deny that Marco Rubio has done a good job as Secretary of State, or Scott Bessent has done a good job at the Treasury. More than anything else, Trump is an active and energetic President. He is out there every day answering questions from all sides. In this important respect he is the opposite of his predecessor.

The Stock Market hit an all-time high.  

The Dow Jones Industrial average rose 14%. The tech heavy NASDAQ gained more than 20%, and most global markets also hit record highs. Stock market gains benefit everyone, not just wealthy capitalists. Retirement plans, both public and private, are primarily invested in the stock market. Employees of profitable companies also get higher bonuses. President Trump cannot be given all the credit for this economic boom but his election did not cause the economy to collapse. So far Trump's tariff policies have not produced the dire results predicted by his opponents in politics or the media. 

Despite unanimous Democrat opposition, the Republican Congress passed a Tax Reform Bill. Although it is still too early to tell, it would appear that the bill will benefit low income workers more than the well to do. With the increased standard deduction those living at or below the poverty level will pay little or no income tax, and most Seniors will see a reduction in the tax on their Social Security benefits. Eliminating fraud and waste also benefits those in real need.

Inflation seems under control. 

During President Trump's first administration Democratic opponents never tired of complaining about income inequality, but in 2025 they switched to an affordability mantra. My wife tells me that prices are up at the supermarket, but she also noticed that gas is cheaper at the pump. Now that winter is here consumers will also see a marked decrease in the cost of their home heating oil. In 2023 during the Biden administration I paid $6.50 per gallon for home heating oil. That's $6500 for 1000 gallons. This year my price is capped at about $3.00 per gallon, and so our home heating cost will only be $3000. Interestingly, the price is down to what it was in the first year of Trump's first administration. In the first three years of the Biden administration my oil price cap was $6.50, $4.94, and $5.04. Why didn't anyone talk about affordability then? 

I compared my electricity and water bills and they are practically the same this year as they were last year. The cost is remarkably cheap considering the essential importance of electricity and water in our daily lives. I was even able to switch our cell phone carrier and reduce our monthly bill from $125 to $70. The new carrier even threw in two new smart phones (I hated to part with my old dumb phone), as well as $650 in Costco bucks. Competition is still the best way to keep costs down.

I really wonder about affordability concerns when I see the following:

The LA Dodgers won the World Series and the cheapest seat in their ballpark was around $800 and the stands were packed. Prices for playoff games in Yankee Stadium were similar. The cheapest seat in Madison Square Garden for a Knick game is around $200 but people in court side seats pay up to $13000 for even a meaningless regular season game. When cameras pan the fans in these expensive seats, most appear to be young men. Are they the same ones who can't afford to get married and start a family?

Of course, anyone's evaluation of 2025 will probably be based mainly on personal and family considerations. Despite old age health concerns last year, by the end of the year my wife and I were in relatively good shape for our age. In addition, our children and grandchildren seem to be doing well, and we are even expecting a third great-grandchild in Texas in 2026. Personally, it was a good year and we have much to be thankful for.

Speaking of thanks, I found the lovely and poignant song "Thanks for the Memory" on Youtube last year. It was sung by Bob Hope and Shirley Ross back in 1938 in an otherwise awful film, but it is amazing to watch the two performers put over the song that would become Bob Hope's signature for the rest of his long career. Click on this link or watch below. 

Happy New Year!