Economic split and the 2020 Presidential race

[Mick1]

The entire small business dynamic is usually fragile, and the COVID-19 dynamic only made it more so.  More than half of SF businesses are boarded up, but Target, WalMart, Costco, etc. survives.

Basically, it’s two economies, one for the wealthy with a 30k DJI in reach, and one for the poor, with 30 million or so receiving a government check and of immense proportions unemployment.  COVID-19 and the lockdown exacerbated that problem:
https://www.politico.com/news/2020/09/07…gap-409234

Recent economic data and surveys have laid bare the growing divide. Americans saved a stunning $3.2 trillion in July, the same month that more than 1 in 7 households with children told the U.S. Census Bureau they sometimes or often didn’t have enough food. More than a quarter of adults surveyed have reported paying down debt faster than usual, according to a new AP-NORC poll, while the same proportion said they have been unable to make rent or mortgage payments or pay a bill.

And while the employment rate for high-wage workers has almost entirely recovered — by mid-July it was down just 1 percent from January — it remains down 15.4 percent for low-wage workers, according to [url=https://tracktherecovery.org/][color=#007bc7]Harvard’s Opportunity Insights economic tracker.

Trump basically has two hopes to win in November: a miraculous economic “V” shaped turnaround (as I’ve said for months, it’s a “K” shaped curve, with the upper 1/3 doing well and the lower 2/3 hurting) and/or a workable vaccine:
https://www.sfgate.com/news/article/Trum…545751.php

Trump taking credit for stock market success (highly debatable at best) and being absent for its corrections is one thing.  He’ll try to take credit for urging the vaccine along when he has virtually nothing to do with other than demand it.  Which, you know, no other president would do, he might think.  Trump does nothing to calm violence, he’s trying to fan the flames, thinking it will help him.  Biden is trying to be moderate:
https://www.cbsnews.com/news/biden-trump…-protests/

And future President Kamala Harris walked back Biden’s promise of a nationwide mask mandate to combat COVID-19:
https://news.yahoo.com/kamala-harris-wal…39746.html

Audaces fortuna iuvat

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