The Billionaire Blind Spot: When Financial Acumen Fails to Translate to Political Savvy

They're the smartest guys in the room, capable of making billions of dollars on arcane trades nobody else can spot. Yet, some of the leading minds in business and investing seem to be strikingly clueless when it comes to the complexities of politics. As billionaire investors and tech titans publicly throw their weight behind Republican nominee Donald Trump, a closer examination reveals a disconnect between their financial prowess and their political judgment.

Billionaires Backing Trump: A Puzzling Paradox

The Ackman Enigma: Flawed Logic and Selective Amnesia

Hedge fund manager Bill Ackman, known for his corporate activism, has published a lengthy social media post outlining 33 reasons for supporting Trump. However, a closer look at Ackman's arguments reveals a troubling pattern of flawed logic and selective amnesia. Ackman ties Harris to some of the most radical policy ideas in the most liberal parts of the country, ignoring the pragmatic approach of the Biden-Harris administration. He frets about efforts to limit fracking, conveniently overlooking the fact that oil and gas production has hit new record highs under the current administration. Ackman's biggest concern seems to be the elite universities' tolerance of anti-Israel protests, despite the Biden administration's staunch support for Israel, including the provision of weapons and the deployment of US troops to defend against Iranian aerial bombardments.

The Tech Oligarchs' Gamble: Manipulating the Troglodyte

The trio of tech billionaires – Elon Musk, Peter Thiel, and Marc Andreessen – have also thrown their weight behind Trump, albeit with less detailed explanations. These "techno-optimists" are driven by a desire to bulldoze laws, rules, and social niceties in order to accelerate the rise of smart machines. They may see Trump's technological ignorance as an advantage, believing they can easily manipulate the former president to serve their agenda. Musk's ambition to run a "government efficiency commission" in a second Trump term is a fool's errand, as the federal bureaucracy is designed to resist such reforms.

The Billionaire Blind Spot: Ignoring the Realities of a Trump Presidency

These billionaire backers of Trump seem to be ignoring the realities of a potential Trump presidency. While a Harris administration would largely be a continuation of the status quo, with inflation nearly back to normal and stock markets at record highs, a Trump presidency would likely bring about more trade wars and a mass deportation effort, both of which would lead to higher inflation and lower GDP growth according to forecasts. For these billionaires, perhaps the potential impact on their bottom line is not a primary concern.

The Disconnect: When Financial Acumen Fails to Translate to Political Savvy

The disconnect between the financial acumen of these billionaires and their political judgment is striking. Their ability to spot arcane trading opportunities and amass vast fortunes does not necessarily translate to a nuanced understanding of the complexities of the political landscape. As they throw their support behind a candidate whose policies could potentially harm the very economy they have thrived in, it raises questions about the limitations of their expertise and the need for a more holistic approach to decision-making.