Armstrong Economics Blog/Corruption
Re-Posted Oct 23, 2018 by Martin Armstrong
QUESTION: Mr. Armstrong; the Democrats are raising far more money from the various big Super-Pacs to take back the Congress. The talk is the New York bankers are telling staff not to donate to Republicans. Do you know if this is true?
ANSWER: The 2016 Presidential Election was a monumental game changer. Trump did not win the money race, he only won the Presidency because the Democrats & Elitest Republicans were not prepared to overcome the turnout of the Silent Majority. Trump defied conventional wisdom where the victory goes to the candidate who raised the most money. Clinton and her Super-PACs raised a total of $1.2 billion, less than President Barack Obama raised in 2012, but it was still twice the amount Donald Trump raised.
Hillary’s sophisticated fundraising operation included a small army of wealthy donors who wrote seven-figure checks, hundreds of bundlers who raised $100,000 or more from their own networks, and a small-dollar donor operation modeled on the one used by Obama in 2012. Hillary spent heavily on television advertising and her get-out-the-vote operation, but in the end, her fundraising edge wasn’t enough to overcome Trump’s ability to get out the vote BECAUSE he was an outsider.
Trump donated $66 million of his own money, flew across the country in his private jet, and used his resorts to stage campaign events. At the same time, the billionaire was able to draw about $280 million from small donors giving $200 or less. He did raise more from the small people than Hillary. The Super-PACs, which can take contributions unlimited in size, were similarly skewed toward Hillary Clinton. All the New York Bankers donated to Hillary – NOT Trump! No corruption was more prevalent than that of Goldman Sachs. Goldman Sachs Group Inc. had banned ALL partners from making donations to certain political campaigns, including the Donald Trump-Mike Pence presidential ticket. The audacity of Goldman Sachs to outright prohibit its staff from donating to Trump in the 2016 elections demonstrated how corrupt the entire election process has become. Any people wonder why the Democrats, who profess to hate the “rich” and special interests, and the NUMBER ONE party to whom the most corrupt people in the system donate. Not a single newspaper ever asks – Why?
I have not investigated if they are doing the same thing again for this season. It would not surprise me. Any firm which instructs their employees how to donate and restricts them from donating to their candidate of choice is violating every principle of the democratic process. God help us if they succeed.