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Why Bloomberg is Unlikely to Outpace Trump in 2020 Despite House Dems' Impeachment Effort

© AFP 2023 / STR / Former New York City mayor Michael Bloomberg
Former New York City mayor Michael Bloomberg - Sputnik International
Even if Michael Bloomberg joins the 2020 race and outperforms his progressive contenders for the Democratic presidential nomination it does not mean that he will manage to win the support of Bernie Sanders and Elisabeth Warren's electoral base, says Wall Street analyst Charles Ortel, suggesting that Bloomberg's run is good news for Trump.

On 7 November, The New York Times broke the news that Michael Bloomberg, an American businessman and former New York City Mayor, whose net worth is estimated at over $50 billion, is preparing to enter the 2020 presidential race.

"Mike believes that Donald Trump represents an unprecedented threat to our nation," Howard Wolfson, one of Bloomberg's advisers, tweeted last Friday.

​According to Wolfson, in 2018 the ex-New York City Mayor spent more than $100 million "to help elect Democrats to ensure that Congress began to hold the President accountable."

"We now need to finish the job and ensure that Trump is defeated – but Mike is increasingly concerned that the current field of candidates is not well positioned to do that," the billionaire's aide stressed.

While the newly minted candidate has yet to officially announce about his run, US politicians and pundits have weighed up his chances in the 2020 election.

Thus, according to Morning Consult, Bloomberg is currently polling at 4 percent, being the sixth-favourite Democratic candidate.

American progressives, including Bernie Sanders, Alexandria Ocasio-Cortez and Elizabeth Warren have criticised Bloomberg for his apparent motivation to join the race. According to Sanders, Bloomberg's potential presidential bid shows the "arrogance of billionaires".

As for Donald Trump, he confidently said: "Little Michael will fail".  

Why Bloomberg's Decision to Run is a Good News for Trump

"Mike Bloomberg may secure the nomination to run as Democrat candidate for US president, but he will lose decisively to President Trump in the 2020 general election, after parting with hundreds of millions of dollars should he follow through with his announced quest," believes Wall Street analyst and investigative journalist Charles Ortel.

According to Ortel, "even if Bloomberg manages to beat hard left progressives in the quest to win the Democrat nomination, he will likely find that these prospective supporters will not be moved to vote for him in the general election, as happened to Hillary Clinton in 2016, when Bernie Sanders supporters did not turn out for her."

Meanwhile, US media have started digging up some "inconvenient truths" about the potential presidential candidate. Thus, National Review draws attention to Bloomberg's "terrible record on abortion and on Second Amendment rights," while Fox News is blaming the businessman for his refusal to call Chinese President Xi Jinping "a dictator."

For its part, Slate is ringing the alarm over Bloomberg's "history of sexism" adding that the billionaire "reportedly admitted he’d said, of multiple female employees, 'I’d do her.'"

Charles Ortel refers to some other controversial aspects in the billionaire's career. The Wall Street analyst, who exposed General Electric financial discrepancies before its stocks crashed in 2008 and has been recently looking into the Clinton Foundation's alleged fraud, suggests that Bloomberg's "financial support for one 'charity' - C40 Cities Climate Leadership Group - and his role, while NYC Mayor as chairman will likely cause significant problems for him."

"My ongoing research shows that this purported organisation appears to have secured its exemption from US federal income taxes on the basis of a false and materially misleading application," the analyst presumes.

Commenting on how Bloomberg's decision to run may affect Donald Trump's positions amid the impeachment inquiry kicked off by House Democrats in late September, Ortel presumes that "it is likely good news for President Trump, even considering the degree to which Bloomberg can spend money on attack ads."

"So far, even lurid and extreme allegations have not yet managed to implode Trump’s base, while Bloomberg does not naturally exude rapport with the overwhelming majority of working and striving American voters," the analyst concludes.
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