Armstrong Economics Blog/Politics Re-Posted Apr 21, 2023 by Martin Armstrong
Ron DeSantis revoked Disney’s special district permissions that had allowed it to operate independently from the government since 1967 (see: Reedy Creek Improvement District). Disney shares have continued to fall over the past year as the people seem to agree with DeSantis. This week Donald Trump announced on social media that this “PR plan fizzled” and “Disney’s next move will be the announcement that no more money will be invested in Florida because of the Governor.”
His son Don Jr. also came out this week to defend the woke agenda by asking conservatives to continue purchasing Bud Light amid the transgender influencer scandal. Again, the people have spoken with their dollars, and Bud Light sales have declined swiftly. Don Jr.’s reasoning – political lobbying. “We looked into the political giving and lobbying history of Anheuser-Busch. And guess what? They actually support Republicans,” he said on his podcast. “Last cycle their employees and their PAC gave about 60 percent to Republicans and 40 percent to Democrats. That’s literally almost unheard of in corporate America, where it’s really easy to go woke, where they do so constantly, where there’s a consequence to actually being a conservative. So 60/40 to the conservative side is kind of a big deal.”
These messages are alienating Trump’s target demographic and seem tone-deaf. Anheuser-Busch could still donate to the GOP without supporting a distorted ideology. If the company actually supports conservatives, its advertising should reflect that too. Donald Sr. is a smart businessman who knows that Disney cannot leave Florida. Disney World’s property in Florida is double the size of Manhattan. They would never find a buyer, first and foremost. They are limited to states with year-round warm weather that are tax-friendly. They already have a park on the west coast and people want to travel to Florida for their vacations. They cannot simply move Disney to a new location financially or logistically.
Trump is either attempting to position himself as more centric than DeSantis or he’s a “Disney adult.” He has also begun selling NFTs again online, which seems a bit desperate. I respect Trump and thought he was a good president who was intent on draining the swamp. His actions this week are extremely disappointing as he seems to be caving into the will of the lobbyists rather than staying firm on his principles.