Wednesday, 19 October 2016

The Ruling Class’s Hatred of Trump is Different Than Yours

Much, maybe most, of the nation’s corporate, financial, and imperial establishment loathes Donald Trump. When’s the last time one of the corporate media’s presidential debate moderators actually argue with one of the two major party presidential contenders, as did the wealthy ABC News reporter Martha Raddatz (enraged by Trump’s lack of enthusiasm for a United States military confrontation with Russia in Syria) last Sunday?

More than fifty Republican “national security” “elites” have joined several top Republican office-holders, a good number of typically Republican newspaper editorial boards, and the “liberal” New York Times’ editors in proclaiming Trump too stupid, sexist, juvenile, racist, volatile, ignorant, and vicious to be trusted with the keys to the White House.

The master class’s fear and loathing of Trump – one of their own, sort of – can be detected in the normally Republican-leaning corporate elite. A recent Wall Street Journal report finds that not a single solitary Fortune 100 chief executive has endorsed Trump or donated to his campaign. Hillary Clinton has accepted campaign contributions funds from 11 of these corporate captains. Four years ago, just five F-100 CEOs gave to Obama while a while nearly a third donated to Mitt Romney.
In a recent Times editorial, the Wall Street executive Steve Ratter (the slimy financier Obama put in charge of his Wall Street-friendly auto bailout) noted the “paradox” of the super-wealthy business mogul Trump’s stark unpopularity with those in his own exclusive class:
“He has spent his entire career among business executives and yet that constituency is voting with hard cash that he should not be president…no Republican presidential hopeful in memory has been so unpopular in the business community…At a board meeting two weeks ago, I chatted separately with two prominent Republican businessmen, One, the chief executive of a Fortune 100 company, said that he had never voted for a Democrat but couldn’t support Trump. The other a private equity investor who had voted Democratic only once, said that he was so scared of a Trump presidency that he has donated ‘every cent possible’ under the campaign finance rules to Hillary Clinton” (S. Rattner, “Trump, The Next Big Short,” NYT, October 10, 2016, A21).
Apparent in campaign finance data, big capital’s preference for the neoliberal and de facto moderate Republican Hillary over Trump is evident also in global stock market. “As Mrs. Clinton’s dominance of the first presidential debate became apparent,” Rattner reports, “investors cheered: markets around the world rose and the dollar strengthened…[reliable forecasters estimate] that a Trump victory would cause stocks to lose 7 percent, while a Clinton victory would lead to a 4 percent increase.”

[Posted at the SpookyWeather blog, October 19th, 2016.]

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