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The failure to impeach Trump could throw the economy into a tailspin after the 2020 election — here’s why

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According to the CEO of investment house BlackRock and political scientist Ian Bremmer, the failure of the Republican-controlled Senate to oust President Donald Trump, should the House’s impeachment investigation be referred for a trial, could have a far-ranging and unpredictable impact on the economy.

As part of an interview covered by Markets Insider, “BlackRock CEO Larry Fink is reportedly worried about political instability in 2020” and feels that investors are not looking far enough down the road and could be faced with economic chaos in the event of the Senate voting along party lines and not convicting Trump.

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According to Bremmer, both he and Fink are thinking along the same lines about a constitutional crisis rearing its head.

“I was with Larry Fink — client, friend — a couple of weeks ago, who is asking me what worried me the most,” Bremmer explained before elaborating that “If Democrats try and fail to convict Trump, the party that loses next year’s election is likely to question its legitimacy, and Congress could grind to a halt,” reports MI.

Noting that Fink stated, “I absolutely agree with those concerns. The markets are not thinking about it yet,” Bremmer stated his case.

“The ‘overwhelmingly likely outcome’ of the current impeachment inquiry is that Trump is impeached in the House but not convicted in the Senate, he [Bremmer] said, before adding that Trump would then feel, ’empowered to continue to abuse power in ways that he had involving Ukraine and Biden and all the rest,'” the report states.

“It’s worse than non-impeachment or not holding impeachment hearings because it means that there are many people that will feel that the 2020 elections are themselves not legitimate,” Bremmer added.

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“There is a reasonable likelihood in 2020 that you’ll have a short period of time where a constitutional crisis occurs,” Bremmer explained. “Not martial law, not troops in the streets, but a feeling that the election itself is not legitimate and, therefore, the outcome should not be recognized as such by whoever lost.”

“For a few months, you can imagine Congress refusing to play ball on things like getting stuff funded, working on a day-to-day basis,” he elaborated. “”A general congressional strike in this environment, with the global economy deteriorating, is a significant risk in 2020 in a way that US domestic risk in 22 years, since I started Eurasia Group, has never been significant.”

You can read more here.

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2020 Election

Andrea Mitchell knocks Biden for virtual convention speech: ‘How much does that damage the campaign?’

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MSNBC host Andrea Mitchell suggested to House Speaker Nancy Pelosi (D-CA) on Wednesday that presumptive Democratic nominee Joe Biden could "damage" his campaign by holding a virtual convention speech.

Mitchell made the remark after President Donald Trump said that he was considering holding his convention speech at the White House.

"Joe Biden is not going to Milwaukee," Mitchell told Pelosi. "How much does this damage the campaign?"

Pelosi disagreed by insisting that Democrats will hold a "great convention."

Mitchell then asked about Trump's plan to hold his convention speech at the White House.

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2020 Election

Trump’s psychiatric disturbance could destroy democracy if he wins a second term: clinical psychologist

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I’m not being hyperbolic or melodramatic when I say that democracy itself is on the line on November 3. Donald Trump has been on a mission to subvert our democracy and to push it toward an autocracy. No president has ever disavowed democracy like Trump. No president has ever wanted to change our democratic way of life like Trump.

Trump has shown little interest or intent in following our Constitution. He is not abiding by the emoluments clause. He breaks norms and rules at will. He does not recognize that the three branches of government are co-equal. He operates as if the executive branch has total power. Our democracy is not based on the executive branch having absolute power. It requires that the three branches have separate powers in a check-and-balances system. Trump impugns democracy because it limits his power and requires him to be held accountable.

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2020 Election

‘Sign of desperation’: Trump slammed for ‘anti-religious bigotry’ over new attack ad on Joe Biden

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A new anti-Biden attack ad from the Trump campaign is filled with falsehoods, and ends by mocking the Democratic presumptive presidential nominee praying in a church. Some on social media are slamming the President and his campaign for "anti-religious bigotry" and "demonizing prayer."

"Deep in the heart of Delaware Joe Biden sits in his basement, alone, hiding, diminished," the ad begins.

Many Americans are sitting in their basements – that's where Biden's office and TV studio are – and they're sitting alone, and hiding, and diminished, so to speak, as a New York Times opinion column notes. But they are doing so because of Trump's horrific handling of the pandemic – the worst management of the coronavirus crisis in the world.

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