Ah, but remember the tariffs stuff; you could be looking at _pretty dramatic inflation_ depending on how that works out (personally I suspect he will be ultimately unable to do that much for long; there is likely a level of market disruption at which he will be Liz Trussed, but who knows). All is risk.

> I wonder if I should look into seeing if I can buy bonds for the EU equivalent of the US treasury...

No such thing; the EU doesn't really have debt-raising powers. This confuses people, but the EU/EC is _not_ a conventional government, and has only a tiny budget (170bn this year). You can buy European sovereign debt, but it's on a per-country level. Bear in mind that by doing this you'd also be taking on currency risk. Personally I wouldn't touch sovereign debt denominated in another currency; YMMV.

Honestly, the rule with indexes is buy and hold. Although I'm confident we have a crash incoming, unless you need the money soon, you should just hold your index funds and add everything you can to it at the bottom. You'll also have to pay taxes on the realized gains if you go to cash. I do believe that Trump's entire presidency is going to be a massive crash, temporary rebound, and then downtrend through 2028. We will probably not return to highs until the 2030s.