Dear Readers,
It’s Thinking Time! I am a female immigrant who does not support Trump nor consume media supportive of him. Yet, it is that same variance in media consumption that has spurred today’s post. My side of the internet is full of well-meaning younger Democratic idealists who want to save the country, and my side is confused, shocked, and angered by the results of the election and looking to attribute blame. And attribute blame it does. It blames the usual suspects of sexism, racism, and homophobia but also, painfully, poverty and lack of education. Today’s TBL Thinks is a response to that indignant denial of woke idealists who have turned on the same ideals they fight for and resorted to blatant classism while thinking they are taking “the higher road.”
TBL Thinks is our way to summarize the most important paywalled, longer reads relevant to global macroeconomics, helping you cut through the noise. With that in mind, please enjoy.
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How Donald Trump Won Everywhere (The Atlantic) To the people saying that only the poor voted for Trump, or only the uneducated voted for Trump, I say it’s time to open your eyes to reality. Trump performed better in this election not only in swing states, but also historically Democratic strongholds, whereas Harris failed to outperform Biden’s 2020 results by 3% or more in every single state. Additionally, even in demographics where Harris won (women, black men, and young voters), she won by a narrower margin than Biden in 2020, and Hillary Clinton in 2016.
According to The Atlantic, the Democrats hold on urban counties proved weakened as prominent counties such as New York County (Manhattan), Kings County (Brooklyn), Orange County (Orlando), Miami-Dade, Harris County (Houston), Bexar County (San Antonio), Dallas County showed anywhere between 5-19% shift to the right, as well counties in “Blue Wall” states such as Pennsylvania’s Philadelphia County, Michigan’s Wayne County (Detroit), and Illinois’ Cook County (Chicago). Trump also gained foothold in counties in Northern and Southern California that Biden had won in 2020, and some that Clinton had won in the 2016 election. Here is the winner by at the county level:
Here is the massive shift right from 2020. A lot of red:
Trump also became the first Republican president to win the popular vote since George W. Bush’s win in 2004.
To the people saying that Trump getting elected threatens democracy, that ironically is the issue that drove voters to vote against the Democratic Party. He was +3 for voters who felt democracy is threatened in the United States:
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How Both Trump and Abortion Access Won the 2024 Election (LATimes) Abortion access was on the ballot for 10 states for the 2024 election, and won in seven, including Arizona, Montana, and deep-red Missouri. This enormous support for reproductive rights was joined by overwhelming support for a change in administration, and it reflected in the election’s result.
Trump has stated since April that he wants to leave the issue of abortion access up to the states rather than enact a federal ban, and has claimed he would veto such legislation if presented to him.
Abortion access wining in red, blue, and swing states does not erase the fear that reproducing people have for their health. His critics believe there is a chance that the new administration try and invoke a federal nation-wide ban on abortion, or “enforce the Comstock Act, a law restricting abortion-related materials that has been on the books since 1873”, or restrict abortion access through the FDA, or Department of Health. How President Elect Trump navigates this issue remains a worry that affects half the adult population of this country.
The Democratic party and Harris spoke several times on the importance of abortion access but failed to highlight how a national measure would pass Congress. With several states moving to protect abortion access, the lack of a properly laid out path to a national measure did little to convince voters across the country. The Democratic party also counted on abortion being the main driving issue this election, but did not plan for the health of the economy and immigration trumping it (no pun intended). All this election did was prove that abortion access is becoming less of a partisan issue, and Republicans and Independents are more likely to support the reproductive rights of and for the reproducing people in their lives.
The Miscalculations That Sent Kamala Harris to a Devastating Loss (WSJ) The simple reason why the Democratic party lost this election is the dissatisfaction among US citizens and their continued struggles with inflation and post-Covid economic fallout. The country could not possibly blame the virus for existing, but it did choose to view its economic fallout as something to attribute blame toward. Disheartened idealists have blamed lobbies funded by cryptocurrency, billionaires like Musk, and the poor and uneducated as reasons Trump won. But what they fail to take into account is that it is the Democratic Party that let the people down.
The Democratic party counted on dislike for Trump, while downplaying dissatisfaction with the economy, to win. Harris, the product of an administration led by an extremely unpopular president, was unable to separate herself from Biden and could not provide the public with her own solutions to America’s problems.
Chris Kofinis, a Democratic strategist and former chief of staff to centrist Sen. Joe Manchin (D., W.Va.), provided the following reason for the stunning loss that the Democratic Party faced — “The elites of this country alienated voters everywhere because they didn’t want to hear what working- and middle-class voters were screaming for four years—focus on us and our problems, not your agenda to destroy Trump.”
Trump and the people running his campaign used her inability to provide solutions and ran with it, specifically Harris’s appearance on The View where she said “there is not a thing that comes to mind” when asked if she would have done something differently from Biden. Her own advisers did not think it would work in her favor to criticize Biden, owing to her role in the administration, and this ended up dismissing voters’ discontent with inflation and record illegal border crossings.
The Democratic Party’s outreach to Latino, Black, and working-class voters in swing states also came too late, and proved too little to sway the voters in their direction. Compared to the 2020 elections, Harris forfeited key demographic groups to Trump, with men as well as women moving right. She gave up her advantage with college-educated voters, and lost substantial ground in voters without a four-year college degree. Conversely, Trump gained ground with Latino and Black voters.
The Democratic Party also failed to have Biden uphold his promise of 2020 of passing the baton on to a younger Democratic generation, and had to scramble to announce Harris as its official candidate after Biden’s devastating performance in the debate against Trump.
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Until next time,
TBL Thinks
With today’s macro landscape, many people are worried about whether they’re saving enough for retirement. Now you can grow your retirement savings using tax-advantaged bitcoin in an Unchained IRA! The Unchained IRA is the only solution that allows you to hold the keys to real bitcoin in a standard IRA.
Right now, get started with no setup fees and no account fee for the first year. You can roll over old IRAs or 401(k)s into traditional or Roth bitcoin IRAs while keeping control of keys. With Unchained, you get the power of key control combined with the long-term potential of Bitcoin, making it the ideal choice for those looking to protect and grow their retirement savings.
Don’t wait to take control of your financial future. Set up an Unchained IRA today at unchained.com/tbl and experience true ownership of your retirement.
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