Showing posts with label economic disaster. Show all posts
Showing posts with label economic disaster. Show all posts

Saturday, July 11, 2020

Coronavirus Will Be the Real Swing Voter in November

Less than four months before the 2020 presidential election, America is the laughing stock of the world and the Trump/Pence regime has demonstrated its incompetence in dealing with the pandemic. "Old Europe" so demeaned by many of the right, has done a far better job and is reopening on a much sounder and safer basis.  Meanwhile GOP led states - especially Texas, Florida and Arizona where governors heeded Trumps demands to reopen to save the economy and Trump's reelection chances - things are dire.  In Texas the GOP dolt in the governor's mansion has indicated that perhaps a new lock down will be needed and belatedly officials are pleading for Texans to wear masks.   Ignoring the recommendations of health care experts to satisfy Trump' narcissism and self-centered focus is having deadly consequences.  In this nightmare situation, Andrew Sullivan suggests where things are with the virus come November will be the real swing determinant in the presidential election.  The choice will be between the horrifically incompetent Trump/Pence regime and Joe Biden and whoever his VP choice turns out to be.  Many will feel, if nothing else, Biden - who actually will listen to medical experts - is the safer choice.  Here are highlights from Sullivan's column:

If you want to see the appeal of Joe Biden, I urge you to watch a recent appearance on ABC News. It was tweeted out, in a doozy of a self-own, by Sean Hannity no less. Grandpa Joe is in front of a window that looks out on a calming, summery garden. His speech just a little bit slurry, he says the following to the camera: “All the talk in the last 20 years about driving down the rationale for unions, all of a sudden, this phrase ‘Everybody’s been woked,’ well, guess what, the rest of the working-class people in America have been awakened and realized, ‘Whoa, why, because I work at a fast-food restaurant that I have to sign an agreement that I will not compete, a non-compete agreement, that I will not go across town to another fast-food restaurant to try to get a raise?’ What in the hell is that about?”
He somewhat inartfully makes a good point about the weak leverage workers have at the bottom end of the income scale, he speaks in simple language, and, rather wonderfully, he proves he doesn’t really have a very good idea what being “woke” is. He appears completely normal, unthreatening and reassuring.
[T]he decision largely to get out of the way of Trump’s constant bouts of self-destruction has so far seemed a smart one. Trump is currently losing this election, and there’s no reason to intervene in any major way. And if the election really is a referendum on Trump, then it is very hard to see how the president can win at this point. The only word for this administration’s handling of a dangerous epidemic is catastrophic. The first wave is becoming a tsunami in the South and Southwest.
The economy, already cratered, could very well falter again in the next few months if new shutdowns are forced upon us, and even if they’re not, workers and consumers are simply not going to have sufficient confidence to rebound when the virus still lurks. The comparison with Europe is devastating. Even those countries that have done poorly, like the U.K., now look like success stories compared with America. The only mildly good news is that the death rates have not yet reflected the soaring infection rate. . . . All one can say politically is that a new jump in death rates would render Trump’s reelection even less likely than today. How does he win an election with a 200,000 death record looming?
So what could go wrong? The press went apeshit over Trump’s Mount Rushmore speech, decrying its divisiveness, bigotry, base-pandering, and so on. But when I read the transcript (forgive me, but my mental health couldn’t endure actually watching the speech itself), I could see what he was trying to do, and it isn’t strategically crazy.  In the surge of emotion after the murder of George Floyd, rhetoric on the left kept upping the ante.
I don’t believe for a second that this loathing of the Founders is felt much in the broader Democratic Party — but that doesn’t mean some protesters and media figures haven’t already given the GOP plenty of ammunition. And although the public has been generally supportive of police reforms, there’s always a point at which attacks on law enforcement can backfire.
The culture war is always there, and Trump is an expert in igniting it.
But a few things defuse this, I think. One is that the electorate of 2020 is nothing like that of, say, 1968 — and these core law-and-order and cultural appeals have less traction than they once did. Trump’s main achievement in immigration policy has been to permanently stigmatize the whole idea of lowering immigration to help the working poor, thus actually moving the U.S. to the left on the issue. Voters are also a bit more sophisticated than they may have been: Polling suggests that many Americans understand, for example, that “Defund the Police” is shorthand for reforming them.
Another reason Biden might avoid a culture-war election is that every issue has now been subsumed into or dwarfed by the pandemic and unemployment crisis and a fight over trans rights, say, seems peripheral in contrast. And then there’s simply Joe Biden’s affect, record, and faith. It’s hard to see this lifelong Catholic really conniving with neo-Marxist atheists pledging to “dismantle whiteness.” He’s clearly not in favor of allowing crime to run rampant in the streets. He has made a critical distinction between Confederate statues and those of the Founders, and he has insisted that any removal of monuments be done peacefully and democratically. It’s just hard to paint him as a stalking horse for Ilhan Omar, as some on the right hope to. It doesn’t work.
I suspect, the veep choice will be more important than usual. No men need apply, Biden has told us. No white women either, perhaps, if Amy Klobuchar’s withdrawal from consideration turns out to be dispositive. And the nonwhite woman who will therefore be nominated will have yet another burden: Because of Biden’s advanced age, and the likelihood of his serving only one term, she will be deemed the future leader-in-waiting. The GOP media-industrial-complex will define her pretty quickly as the person who is really in charge and try to run against her, rather than against Biden.
I hope Biden is figuring out how to counter this obvious strategy and doesn’t walk into a trap. Kamala Harris? Susan Rice? To be honest, I don’t know. But if the Trump narrative is that Biden’s surface centrism disguises a resurgent far left, and that he’ll be a puppet of the woke, the veep choice may matter more than it otherwise might.
Trump’s last gambit will be the debates. Tom Friedman is obviously a bit worried that Biden might stumble in a mud fight with the one-man clown car he’ll be up against. And I see his point.
But the virus will be the real swing voter in this election. The sheer scale of the health crisis, and its current trajectory, obviously sweeps every other issue before it, as it should. It sure hasn’t ended the culture war, which at the elite level is arguably more intense than ever, but it is in the driving seat of the economy, and that is almost always dispositive. If we enter November closing in on 200,000 deaths, with the toll rising, and in a virally caused economic slump, I just can’t see how any incumbent can get elected, and I’m usually pretty good at seeing the worst.
The only way Trump can win is to ignore the pandemic or lie about it. He is trying both right now, and neither tactic is working. And as it becomes clearer and clearer that the U.S. is now a disgraced and humiliated outlier in the developed world in its tackling of the virus, Trump’s ultimate responsibility for this dismal response and thereby our struggling economy will be harder and harder to deny. . . . Which suggests to me a Biden and Democratic landslide is no longer out of the question.
The world is laughing at us, when they are not crying at what we have become. And if that isn’t the Trumpiest reason to vote against Trump, I don’t know what could be.

Monday, June 27, 2016

Brexit Economic Disaster Ought to Be Cautionary Note to Trump Supporters

There are significant parallels between British voters who favored leaving the European Union and the low information, low education supporters rallying to Donald Trump's sound bit of >Make America Great Again."  Trump, of course has no specifics as to how he would deliver on the campaign promise.   Neither did those advocating Britain's exit from the European Union.  Like Trump they offered platitudes and sound bites and now that the leave vote has prevailed, they are already changing their tune on what they had promised.  Meanwhile, a slow moving catastrophe is overtaking the British economy thereby showing that feeling good about one's self or wanting "change" doesn't necessarily translate into something good or viable.  Will Trump supporters be chastened by what is happening to Europe?  Probably not.  Their xenophobia, racism and fantasies about restoring a lost past will likely overwhelm rational thinking.  The New York Times looks at some of what this "feel good vote" is wreaking on Great Britain.  Here are excerpts:
A few weeks before Britons voted on whether to remain part of the European Union, Michael Gove, one of the leaders of the Leave campaign, was asked why he should be trusted over the overwhelming number of economists and international authorities who opposed Brexit. “People in this country have had enough of experts,” he replied.
Experts are, of course, known to make mistakes. But in this case, the people who voted for Brexit will pay a big price for ignoring economic expertise. The harmful effects of this vote are both immediate and lasting.
Britons are already worse off. The pound has — so far — plunged by nearly 9 percent against the dollar, slashing the value of British assets, with higher import prices likely to follow. The stock market has also taken a hit. The prices of property, most British people’s main asset, are almost certain to fall, too. While Mark Carney, the governor of the Bank of England, has already pledged 250 billion pounds (about $345 billion) to support the financial system and has said he could offer more if necessary, central bankers cannot protect against an enduring economic shock.
Now, a country renowned for its political and legal stability is descending into chaos. The future prime minister is unknown, as is the direction his or her policies will take. The favorite to replace David Cameron, Boris Johnson, the former mayor of London who opportunistically campaigned for Brexit, styles himself as pro-market and pro-globalization, but in the lead-up to the vote he said he supports curbs on European Union migration, tariffs on Chinese steel and higher public spending. The future terms on which Britain will trade with both the European Union and all the countries with which it has negotiated trade deals on Britain’s behalf are uncertain. Domestic regulations on everything from finance to environmental protection may change.
All that uncertainty is amplified by the prospect of a second referendum on Scottish independence, which may this time be won.
The resulting downturn will cause the government’s budget deficit, already large, to swell. The pound’s depreciation, which might have been expected to boost exports, is unlikely to do much to cushion the blow. Its huge decline in 2008 failed to boost exports and Brexit will dent them.
This unpredictable situation will not be brief. Once triggered, the formal process of leaving the European Union is supposed to take two years. But extricating the union’s second-biggest economy from 43 years of European Union legislation is a daunting task.
Brexit’s supporters are deluded when they argue that Britain could cherry pick what it likes about the European Union and discard the rest. Since exports to the European Union (13 percent of G.D.P. in 2014) matter much more to Britain than exports to Britain (3 percent of G.D.P. in 2014) do to the European Union, the European Union will call the shots. Other governments have every incentive to be tough, both to steal a competitive advantage and to deter others from following Britain out the door.
The young, the higher educated and city dwellers, the most dynamic members of Britain’s economy, voted to Remain. They were outvoted by the old, the less educated and non-urban English, who often rely on taxpayer largess. With economic opportunities stunted, everyone will suffer for Leave voters wrongly blaming hard-working, taxpaying European migrants for everything they dislike about modern Britain and wrongly trusting economic charlatans like Mr. Gove.

Again, look at the British voters who voted to Leave and you see mirror images of Donald Trump's base.  They seek to do the same damage to America that the proponents of Leave have inflicted on Britain.  And, like Gove, Trump is a charlatan.