President Biden?
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The Taliban endorse Trump
“We hope he will win the election and wind up the US military presence in Afghanistan,” Zabihullah Mujahid, a spokesperson for the Islamist group, told CBS
https://www.dw.com/en/taliban-endorse-donald-trump-in-us-presidential-race-report/a-55232735
a Biden victory in November is unlikely to halt the slide towards a new cold war…the Democrats will be more able, and perhaps more willing, to build an international anti-China alliance that would further sour Sino-American relations. People everywhere ought to be profoundly worried at such a prospect.
So now it’s Trump who’s the Lesser Awful.
By accident I came across the first post in this thread thinking it had just been posted and thought you were being a bit bold when I read:
“I now make another new prediction…Trump will win his second term against Biden is Sleepy Old Joe.”
But then I checked the date and noticed the opening line:
“Well, never place faith in any of my predictions.“
Certainly the polls now indicate a comfortable win for Biden but be ready for a winter of very much discontent.
The pandemic financial measures offered by Trump has been rejected by Pelosi which means if he loses, he won’t care about softening the economic effects of the pandemic and it will be late January before Biden can implement any policies and so workers will be without any compensation whatsoever through the winter.
Apparently the same thing happened when Hoover lost and FDR had not taken over and there was genuine hardships. So this may be another time that working people will become very desperate, indeed.
I wouldn’t like to predict what might happen but i do think the right and the left will polarise even more…and it is difficult to reason with a very hungry person who is suffering.
Chomsky and the fear of Trump
Noam Chomsky: Trump Is Willing to Dismantle Democracy to Hold On to Power
The “law and order” appeal is normal, virtually reflexive. Trump’s threat to refuse to accept the result of the election is not. It is something new in stable parliamentary democracies.
https://www.theguardian.com/business/2020/oct/14/joe-biden-win-us-stock-investment-patterns
As the odds of Biden victory have shortened, investors appear to have become less fearful of a Democrats-controlled government pushing through corporate tax increases and increased spending, and more focused on the likelihood of a generous, post-election fiscal stimulus package.
Increasing expectations of a Democratic party victory in the race for the White House and on Capitol Hill appear to be driving investors towards stocks that could benefit from the policies that could accompany a Biden administration, including generous government stimulus spending. Investors have also marched into stocks in renewables – which could boosted by the Democrats’ commitment to greener energy initiatives.
The Lancet Psychiatry editorial endorse Biden
https://www.thelancet.com/journals/lanpsy/article/PIIS2215-0366(20)30437-5/fulltext
“…To be clear, a Biden victory is an absolute necessity, not just for the USA, but for the world…Support for Biden must not be an end in itself—it needs to be accompanied by a new commitment after the election.”
“…Although Trump loves to tout the stock market gains that have occurred during his tenure, Wall Street has donated more money to Biden and Democrats this election cycle than to the president and his party. Biden has praised and reassured corporate leaders, shareholders, and the wealthiest Americans, promising to not “demonize” them and vowing that “nothing would fundamentally change” for them if he is elected…The former senator from Delaware—a state known as a haven for banks and corporate headquarters—cast key votes to deregulate the banking and financial services industries, which showered him in campaign cash and other support. Biden was also a leading champion of a bill that made it much more difficult for Americans to declare bankruptcy—just before the most devastating economic crisis since the Great Depression. ..As vice president during what many progressives derisively called the “Goldman Sachs administration”—for the number of Wall Street and corporate executives it employed, the amount of corporate donations it received, and how it was influenced by big money interests—Biden played a key role in advancing what many saw as President Barack Obama’s Wall Street and corporatist agenda. “
So what will be new this time? There will be some progressives who won’t agree but they will not be in the majority, nor hold any influence.
^ The US is the world’s number one corporatocracy, the ugly off-spring of capitalism. The economy of the US would have to collapse completely before anything will change. But the likelihood of that happening appears to be greater everyday. The US debt is currently at $27 trillion, most of which was the result of shoveling newly minted money into Wall Street coffers since 2008. This has been the largest transfer of wealth (and power) from the working class to the corporate class in the history of the US. The Weimar Republic did this in the 1920’s and bankrupted the country.
I’m no economic expert but the argument against the inflationary case is given elsewhere on this forum, LT, which you i noticed have comment upon with a collapseist viewpoint
I don’t see how an increase in the US government’s debt is a “transfer of wealth (and power) from the working class to the corporate class” if only because the working class never had such wealth and power to transfer. It would better be described as a transfer of wealth within the corporate class, from one section of it to another.
In any event, there is no chance of the US government going bankrupt, ie being unable to repay what it has borrowed or the interest in it. If those capitalists who lend money to it had the slightest hint that this might happen they would be reluctant to buy US government bonds and interest rates on them would soar as, to attract buyers ( ie capitalists to lend to it), the government would have to offer a higher interest rate on them. But this is not happening. I think we can trust capitalists who lend to governments to know which way the wind is blowing and they show no signs that they think that the US government won’t be able to repay what they lent to it.
Incidentally of course it would be the government and not “ the country” that would go bankrupt. To describe the US government as “ the country” is to let go unchallenged the myth that the US government represents the interests of all the people living in the US (most of whom are workers) whereas in fact it represents the interests of the US capitalist class.
Marcos has sent this which suggests that more and more US capitalists have decided that Biden is the Greater Good for them. Liberals, progressives and other reformists, in calling for a vote for Biden as the Lesser Awful, are helping this campaign by putting their mouths where the capitalists’ money is. In any event, by taking sides in this vote, workers are being used by different groups of capitalists.
Goldman Sachs on a Biden presidency
“We recently analyzed the implications of a fiscal program similar to the Biden campaign proposals and found that the boost to growth from fiscal stimulus would outweigh the negative effects of tax increases, particularly in light of the fact that the increased tax revenue would go to fund new spending.”
Chinese corporate leaders say they do not see much difference in policies of Donald Trump and Joe Biden towards China.
Biden, no joke, literally.
A staggering 97% of the jokes Stephen Colbert and Jimmy Fallon told about the candidates in September targeted President Donald Trump, a study found. That’s 455 jokes about Trump and 14 about Democrat Joe Biden, according to the Center for Media and Public Affairs at George Mason University. That doesn’t even count 64 jokes made about Trump’s family or administration, the study said.
In the 2016 campaign, Trump was the punchline for 78% of the jokes to Hillary Clinton’s 22%
Since 1992 Republicans are usually targeted more than Democrats by the comedy writers
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