I don’t want to turn this into a political blog by any means, and I am going to avoid political posts moving forward, but I really would like to talk about Mike Bloomberg and his attempt at buying the presidency of the United States.
Everywhere you turn, whether it be on the radio, internet or television, you are going to be slapped in the face with a Bloomberg ad. He has purchased hundreds of millions of dollars’ worth of airtime on every single channel and communication service thus far.
To date, Bloomberg has spent more than $450M on television and digital ads, more than the next four candidates combined. Bloomberg is worth somewhere in the realm of $60B. This is merely a drop in the bucket for him, and we can expect this to ramp up exponentially into the democratic primary.
Following the democratic debate on Wednesday night, Bloomberg was criticized for his race relations when it came to his implementation of “stop and frisk”. Bloomberg responded with focused ads with racially diverse crowds praising him for his work as mayor. It has been interesting to watch how a billionaire can throw money at his problems instead of facing them head on. And to be frank, it seems to be working.
Because of this fire hose blast of “30,000 ads per minute” worth of political ads, Bloomberg has risen to a 1 in 12 chance of winning the primary (as of 2/21/2020). I suspect he will spend more than $1B on ads by the time the primary rolls around.
I know this is probably piling on, since there are about a thousand different publications printing the same thing about Mike Bloomberg setting the airways ablaze. I’m just failing to see how this isn’t a self-serving, lazy, ego-driven campaign that accomplishes nothing. Buying your way out of having to participate in caucuses is slimy at best, and anti-democracy at worst.
With the amount of money Bloomberg is spending on ads, let’s call it nearly $2B when it’s all said and done, he could accomplish the following:
1. Completely fix Flint Michigan’s water ($216M)
2. Completely eliminate Trachoma ($1B)
3. Completely eradicate Polio ($1.5B)
4. Completely eradicate Malaria ($8B)
I get that the last one is a stretch over the $2B limit, but the point here is that this is an obnoxious self-serving long shot, that could be better used to cement a legacy that doesn’t include a hypocritical pissing contest.
I may be projecting here a little bit, and I understand that it’s his money and he can do what he wants with it, it’s just disappointing to see someone with such wealth blowing it away on nothing.
End of rant, and end of my political blogs.
Let me know in the comments if you want more political talk on this blog, I am leaning towards not doing anymore, but if you ask for it I’ll do it. Politics can end up dividing a following, and that’s not my goal here. The goal is getting people on a path to financial independence. This is just one of those things that’s hard to stand idly by and watch.