- the source for market opinions


November 24, 2019 | Bloomberg Running for President to Rebuild America

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Michael Bloomberg officially announced his intention today to run for President as a Democrat.

The Democrat field officially expanded by one today as Bloomberg Says He Will Launch Democratic Presidential Bid.

Billionaire Michael Bloomberg’s late entry into the presidential race Sunday puts pressure on an already crowded Democratic field, with an essentially limitless budget at the former New York City mayor’s disposal that could further prolong the nominating contest.

Mr. Bloomberg, co-founderand the majority owner of financial data and media company Bloomberg LP, faces a tough path to the nomination given his late entry. But he has already invested tens of millions into his campaign, starting with a roughly $30 million ad buy for next week alone to introduce himself to voters. He has said he would self-fund his campaign and not accept any donations.

His advisers have also been building out his campaign staff, intending to focus on the delegate-rich Super Tuesday states, which vote on March 3. Many of the Democratic candidates have invested fewer resources in those states than in the first few nominating contests, in Iowa, New Hampshire, Nevada and South Carolina.

“I’m running for president to defeat Donald Trump and rebuild America,” Mr. Bloomberg said in a statement Sunday. “We cannot afford four more years of President Trump’s reckless and unethical actions. He represents an existential threat to our country and our values. If he wins another term in office, we may never recover from the damage.”

Asked for a reaction to Mr. Bloomberg’s announcement, Trump campaign spokesman Tim Murtaugh said simply, “Underwhelming.”

Video Campaign Kickoff

Unlimited Funding

It’s nice to not have to raise money. That’s what being worth over $3 billion means.

But please consider Democrat Debate Rules.

Debate Qualifications

  • Polling Threshold: To meet the Polling Threshold for the December Debate, candidates must meet either the “Four-Poll Threshold” (at least 4% in four party-approved polls) or the “Early State Polling Threshold” (6% in Iowa, New Hampshire, South Carolina, or Nevada).
  • Grassroots Fundraising Threshold: To meet the Grassroots Fundraising Threshold, candidates must submit a certification, executed by the candidate’s campaign Treasurer, by 11 A.M. on December 13, 2019, demonstrating that the campaign has received donations from at least (1) 200,00 unique donors; and (2) a minimum of 800 unique donors per state in at least 20 U.S. states, U.S. territories, or the District of Columbia.

If Bloomberg will self-fund his campaign he will not qualify for any debates.

Qualified for the December Debate

I hope Gabbard can stay in until the end. Hillary Clinton trashed Gabard which is reason enough to support Gabbard.

In case you missed the details, please consider Tulsi Gabbard is more well-known after Hillary Clinton took a jab at her, but also less popular.

In an October interview, Clinton described Gabbard as a “favorite of the Russians.” She added: “They have a bunch of sites and bots and other ways of supporting her so far.”

Gabbard offered a scathing response to Clinton’s remarks, stating the former secretary of state is “the queen of warmongers, embodiment of corruption, and personification of the rot that has sickened the Democratic Party for so long.”

If that’s not enough reason to support Gabbard, what would it take?

Attacks on Gabbard are ridiculous led by Hillary Clinton’s absurd Russia portrayals and also by the New York Times.

Tulsi Gabbard’s White Pantsuit Isn’t Winning

The New York Times commented Tulsi Gabbard’s White Pantsuit Isn’t Winning.

Yes folk, the NY Times devoted an entire article on Tulsi’s white pant suit.

The lead in comment was “It leaves a chill.

Indeed, it does leave a chill, but on New York Times reporting and how far into the gutter it has sunken.

The DNC does not want Gabbard in the debates, and that is yet another reason to support her.

Warren is Slipping

Meanwhile, support for Elizabeth Warren is falling like a rock.

I suspect voters are looking at her monstrous tax-and spend proposal that are so looney even the Left cannot stand them.

The same thing is happening in the UK with Jeremy Corbyn’s radical left agenda as the Tories Jump to Double Digit Lead in Every Poll.

Back to Bloomberg

It’s unclear how Bloomberg will impact the Democratic race.

He has enough money to drum up support but that will not buy him an entry into the debates.

And if he takes votes from someone, will it be Biden?

We need to see more polls now that he is officially running.

Mike “Mish” Shedlock

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

November 24th, 2019

Posted In: Mish Talk

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.