Opinion Why The Bloomberg Bump Is A Bubble
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A wildfire that burned out an area eight times the size of Manhattan has been put out as torrential downpours across Australia’s east coast brought relief to firefighters who have been battling blazes for several months. © Photographer: Mark Evans/Getty Images AsiaPac Heavy Rain Lashes Sydney Following Months Of Drought The number of fires still burning across New South Wales has reduced to about 40, according to the Rural Fire Service, from more than 130 at the start of the year, after parts of the state were hit with several hundred millimeters of rain in recent days.
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Former New York City Mayor Michael Bloomberg made a risky late entrance into the crowded Democratic presidential field in November with a strategy to skip the early primary states and focus on Super Tuesday.
Bloomberg has pumped an extraordinary amount of resources into the effort, running on virtually unlimited resources as the businessman with a Forbes-net worth of $61.8 billion. He is self-funding his campaign and has already spent nearly $350 million with more than 2,000 people on staff. To put that into perspective, that’s more money than the rest of the Democratic field combined, excluding fellow billionaire Tom Steyer, who is also self-financing his run.
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Bloomberg’s plan has been to ignore the first four primary contests held in Iowa, New Hampshire, Nevada and South Carolina, instead pivoting resources to the 16 contests scheduled to take place on March 3.
“It's much more efficient to go to the big states, to go to the swing states,” Bloombergto the New York Times earlier this month. “The others chose to compete in the first four. And nobody makes them do it, they wanted to do it… Those are old rules.”
At first glance, Bloomberg’s approach might be working. Just three months after making the fateful leap, Bloomberg is rising in the polls.to RealClear-Politics’ latest aggregate of national surveys, Bloomberg is now riding in third place behind Vermont Sen. Bernie Sanders in first and former Vice President Joe Biden.
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U.S. House Speaker Nancy Pelosi said she agrees with President Donald Trump‘s assessment of the threat posed by American allies and other countries using Huawei Technologies Co. equipment to build 5G networks. © Bloomberg Nancy Pelosi Speaking at the Munich Security Conference, Pelosi said she was going to speak with “candor” to European allies about the dangers of allowing a company with connections to the Chinese government to build global information networks.“I tell you, unequivocally and without any hesitation, be very careful when you go down this path unless you want to end up with a society like China,” she said.
Much of Bloomberg’s steep climb has emerged within the last two weeks as the Democratic primary descends into disarray following a disaster at the first caucus in Iowa and a floundering frontrunner, prompting anxious Democrats to give Bloomberg a second look.
On Feb. 3, the Iowa Democratic caucuses suffered a meltdown when its vote-reporting app crashed as results were being sent to the state party. The fiasco left the public without a winner for the rest of the week. Once results did emerge from the contest: the caucuses revealed a much weaker candidate in Biden than many anticipated, with a strong turnout from Sanders capturing the popular vote followed by Buttigieg and Warren. Minnesota Sen. Amy Klobuchar even came close to defeating Biden.
In light of the chaotic caucus, Bloomberg seized on the opportunity to remind Democrats of another candidate running in the “moderate” lane while a self-described socialist comes off big wins in Iowa and New Hampshire with strong momentum. Bloomberg announced on the day after the Iowa caucuses while results had yet to be released that he would double his ad spending.
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The outcome in New Hampshire has also played to Bloomberg’s advantage by sowing further doubts about Biden while propping up Buttigieg and Klobuchar as serious contenders in what is shaping up to be a long, competitive road to the nomination in Milwaukee. The process has played out perfectly for Bloomberg to capitalize on the chaos, but the Bloomberg build-up could be a bubble just waiting to pop.
At this point in the race, Bloomberg’s absence from the early contest states has allowed the businessman to steer clear of criticism from the other candidates, and there’s sure no shortage of content to go after.
Last month, the Democratic National Committee removed the donor threshold to qualify for its pirmary debates, opening the door for Bloomberg to land his first spot on stage to go head-to-head with the other candidates in a nationwide televised event. While Bloomberg still needs to place high enough in one more poll for a primetime podium, Bloomberg is likely to meet the requirements to face his Democratic rivals in Nevada.
Once Bloomberg begins to take serious flak from the other candidates on the debate stage next week, the billionaire’s meteoric rise very well may take a nosedive, depending on how Bloomberg is tested.
Bloomberg surpasses $400M in ad spending for 2020 race
Michael Bloomberg has spent more than double his nearest Democratic presidential primary rival on campaign ads. © Provided by Washington ExaminerData from political ad tracker Kantar/CMAG shows the former New York City mayor spent roughly $417.7 million as of Sunday morning, which according to CNN's David Wright, also includes futures reservations. The amount is 10 times as much as Vermont Sen. Bernie Sanders and former South Bend, Indiana, Mayor Pete Buttigieg, who leads the delegate race in the contest, have each spent.
Meanwhile, Bloomberg’s record in New York is likely to come under heightened scrutiny that will only intensify as the other campaigns drop opposition research. Just earlier this week, anrevealed Bloomberg touting his championing of New York City’s “Stop-and-Frisk” policing strategy that a federal judge as uncontitutional racial harassment.
Put those cops where the crime is, which means in minority neighborhoods. So one of the unintended consequences is people say, ‘Oh my G-d, you are arresting kids for marijuana that are all minorities.’ Yes, that’s true. Why? Because we put all the cops in minority neighborhoods. And the way you get the guns out of the kids’ hands is to throw them up against the walls and frisk them.
What’s more, Bloomberg’s polling numbers aren’t quite as strong as nationwide polls might suggest. While Axiosthat Bloomberg has spent 35 percent of his advertising money on the four dates with the most Democratic delegates -- California, New York, Texas, and Florida -- Bloomberg hasn’t yet cracked a top three spot in or in the Real Clear aggregate.
With Super Tuesday less than three weeks away, the Bloomberg boom might not substantiate. That’s a short amount of time to lift his support and shed the image of the "Big Gulp" guy in Rust Belt states.
Twitter suspends 70 accounts posting pro-Bloomberg content .
Mike Bloomberg's presidential campaign has been much shorter than his competitors and, so far, much louder. With a huge budget, it's paid for posts by social media influencers as well as standard advertisements. However, the LA Times reports that on Friday, Twitter suspended some 70-odd accounts for breaking its rules against "against platform manipulation and spam." According to Twitter, this wasn't just a ban impacting some full-on bots, but it wiped out accounts sending out identical pro-Bloomberg messages. One shown in the tweet read, "A President Is Born: Barbra Streisand sings Mike's praises. Check out her tweet.
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