Ah, ladies and gentlemen, gather round! What a riveting time to be alive in the political dollar store known as the United States! It’s like a game of chess but with more shouting and fewer pieces. The final phase of the presidential election campaign is upon us, and it seems we’re about to witness a fierce tug-of-war between Kamala Harris and… well, legally, it’s probably “the other guy” since you’ve got to keep your campaign tidy, like a good pair of shoes on a first date.
Now, Kamala Harris, bless her heart, got off to a roaring start. It was as if she was handed a golden ticket and immediately proceeded to lose it in the couch cushions. The polls show her popularity is dipping faster than a kid chasing an ice cream truck. In the swing states, her chances seem as flaky as a pastry from an old bakery. A tight race is the order of the day, and if you ever wondered how indecisive the American public can be, look no further! They’re as confused as a chameleon on a Smarties box!
What’s going on with the economy, you ask? Well, despite inheriting an economic landscape that could make the average American drool—2.4% inflation, 4.1% unemployment, and stock markets popping off like firecrackers—Kamala still can’t seem to convince voters that the proverbial “good times” are back. It’s like showing up to a party with a piñata full of cash, only to realize everyone else is still locked in a game of Monopoly, waiting to pass “Go.”
And let’s not forget that 80% of the populace apparently feels the economic situation is better compared to a soggy sandwich. Those pesky inflation rates from 2021 and 2022 have left many feeling about as financially stable as a pogo stick on a tightrope.
Now, both candidates are offering shiny new toys—oh, I mean, economic programs—like a kid’s birthday party gone mad. You’ve got Harris with her “new way forward” manifesto, targeting the middle class like Cupid with a bow and arrow, aiming to bring them home with promises of electric vehicles and AI. Meanwhile, Trump has tossed out a summary document titled “Make America Great Again,” which sounds like a motivational poster that’s been left out in the rain. His focus? The defense industry and fossil fuels—because what could be better than digging up the past while pocketing a hefty sum for it?
Goldman Sachs has even jumped into the fray, developing indices that seem to crystalize the mood better than a fortune cookie. A month after the candidates’ debate, they unveiled that the Democratic stocks are down like a bad soufflé, while the Republican basket is rising like bread on a sunny windowsill. If that doesn’t scream “tune in for the grand finale,” I don’t know what does!
As we inch ever closer to the nail-biting conclusion, one thing remains certain: the outcome may very well shape the future of America more than a Hollywood blockbuster will shape summer blockbusters! So mark your calendars for November 5th—you won’t be just wiping dust off your old Steinbeck novels; no, you’ll be glued to your screen, popcorn in hand, heart racing, because whether you love them or hate them, elections in America are more entertaining than the last season of any reality TV show!
And remember folks, it’s all fun and games until someone forgets to share the article. So spread the word, because before we know it, we’ll be living through a political soap opera that’s less “Days of Our Lives” and more “Days of Our Lies!” Cheers!
The final phase of the presidential election campaign has begun and both the results of the polls and the bookmakers’ odds point to an extremely close outcome.
After initially enjoying strong support following her surprise nomination, Kamala Harris’ popularity now appears to be waning, with polls reflecting strong indecision in the polls Swing States reflected, the US states that are so crucial to the outcome of the election.
Harris cannot take advantage of the positive economic balance
Although she inherited a positive economic record as Joe Biden’s vice president, it is difficult for her to capitalize on these successes as a candidate for the White House. Inflation is now under control at 2.4% year-on-year, unemployment is near full employment at 4.1%, growth is solid at an average of 3.5% from 2021 to 2024, and stock markets are breaking record after record . But none of that is enough to convince voters. The wave of inflation that weakened the purchasing power of American consumers between 2021 and 2022, as well as the drying up of excess savings from the Corona period, are certainly contributing to the fact that 80% of the population perceive the economic balance of the Biden-Harris team a little differently.
Although the election has not yet been decided, it is already clear what economic consequences will be associated with the final result.
Even though the candidates’ programs are very different, there are some similarities. They are very costly, although a deficit of 6.6% is estimated for 2024 and the debt-to-GDP ratio is close to 100%. Protectionism, particularly towards China, is also a common denominator.
However, if you look closely you can see numerous and clear differences.
Election programs: Innovative sectors versus armaments and fossil energies
In a nearly 80-page document entitled “A new way forward for the middle class,” the Democratic candidate presents a program that is clearly aimed at lower and middle class households and small businesses. It aims to provide support for those most in need by covering basic needs such as nutrition, health and housing, but also promotes innovative sectors such as electric vehicles, semiconductors and artificial intelligence.
Donald Trump’s economic program, laid out in a more general and summary document entitled “Make America great again,” favors certain sectors such as the defense industry, supports cheap fossil fuels in keeping with his “drill baby drill” mantra, and makes a U-turn in the automotive industry towards combustion engines. Candidate Trump also appears to be in favor of deregulation in general and in the cryptocurrency space in particular.
The American bank Goldman Sachs has created indices of securities that are preferable in the event of the victory of one party or another. These indices clearly reflect polling trends: a month after the candidates’ debate, the “Democratic” basket of stocks was down about 5%, while the “Republican” basket was up over 5%. On November 5th we will find out who the lucky election winner is.
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Disclaimer
The opinions expressed correspond to the author’s assessments. LFDE assumes no liability for this.
