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Joe Biden announced his reelection bid today via a slick produced video. The president made his announcement despite the fact that most Democrats do not want him to run for reelection. The good news for Biden is that they would vote for him anyway.
Biden’s announcement essentially clears the field for him preventing any establishment candidate from entering the race. The wild card for the Democrats is RFK’s entry into the primary. In a less than objective article about his candidacy, the NYT reveals how it has become a mouthpiece for the DC power structure.
Another Biden/Harris ticket is making the Democratic power brokers nervous. Biden is one fall away from going to an assisted living facility with Dr. Jill to live out his remaining years. And the thought of Kamala heading up the presidential ticket next year must make them puke.
Here is my Florida fearless forecast for the Democratic ticket. By mid 2024 Biden drops out of the race and the insiders maneuver to nominate the utterly feckless, power-hungry Gov. Gavin Newsome of California to replace Biden. That would mean Kamala could not be the VP nominee because the president and vice-president must be from different states (Art. II, Sec. 3).
The insiders thus get a new ticket with one that would be more competitive than old Joe and the giggler from California. A woman would have to fill the VP slot, but not necessarily of color. I think the odds-on favorite would be Sen. Amy Klobuchar of Minnesota, a state the Democrats would like to keep in 2024, but a state they could afford to lose.
It is now nearly May 2023 and every day that goes by increases the possibility of a serious medical/cognitive issue for Biden. This could be the reason the DNC announced there will be no debates of the primary candidates.
If an incumbent candidate, especially the president of the United States, does not debate his opponents, he is not worthy of reelection. Period. A robust debate of the issues among the candidates is crucial for a vibrant democracy. If Biden does not debate RFK, Jr. and others who are in the race or may jump into the primary, then Joe should call it a day and retire to Delaware.
On April 29th I will be speaking at the Libertarian Party Mises Caucus in Austin, TX, one stop in the Human Action Tour. See if there is an upcoming one in your area, https://lpmisescaucus.com/take-human-action-tour/.
My latest piece on the economy was published in Fortune, https://fortune.com/2023/03/27/recession-2023-layoffs-tech-finance-unemployment-outlook-fed-rates-murray-sabrin/ This is an update of my 2021 forecast, https://fortune.com/2021/12/09/next-recession-heres-everything-bubble-markets-2021-2022-covid-murray-sabrin/
Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His new book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin’s autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022.