WASHINGTON, DC (BBN) – President Donald J. Trump’s decision to contest the 2020 presidential elections is already pushing President-elect Joe Biden to the right and effectively forcing his incoming administration from making a clean break from many of Trump’s unheralded economic and foreign policy successes.
While the US and global news media continue to gleefully minimize former NYC mayor Rudy Giuliani’s legal battles to overturn the 2020 election as a circus, the legal battles undertaken by Trump’s personal attorney serve to highlight Biden’s razor thin margin of victory (<1pct) in key battleground states and the US electorate’s demand for a middle of the road government.
[President Donald J. Trump’s personal attorney Rudy Giuliani news conference with Sidney Powell and legal team filmed by Capitol Intelligence/BBN using CI Glass at the Republican National Committee in Washington DC on November 19, 2020]
President-elect Biden already demonstrated that he will not be pushed to follow a radical left economic agenda by the likes of Massachusetts Senator Elizabeth Warren and far-left firebrand US Representative Alexandria Ocasio-Cortez by naming former U.S. Federal Reserve Chair Janet Yellen as Treasury Secretary.
Considered by all as a safe pair of hands, Yellen is expected to persuade Biden not to derail Trump’s veritably miraculous V shaped economic recovery during the Covid-19 crisis. The Biden administration would do well by maintaining the job creating flat tax for small and minority owned businesses and avoid redirecting Covid-19 stimulus funds to non-productive social welfare payments and unsustainable investment in renewable energy.
In fact, Biden can sustain domestic growth by implementing Trump’s proposed USD 1.5trn infrastructure plan to create thousands of new jobs and lower debts levels in urban America through the mass privatizations of US airports, utilities and highways.
“Yellen’s main job will be reminding Biden that stimulus money needs to help US companies grow through the crisis and not be a blank check for social programs,” a banker said. “Yellen will also be working hand-in-hand with US Federal Reserve Chairman Jerome Powell, the ECB’s Christine Lagarde, the US Congress and the IMF to avoid any devastating shocks to the American and world economies.”
Masayoshi Son, the founder and CEO of Japan’s Softbank, told the New York Times DealBook last week that he accumulated more than USD 80bn in cash ahead of a dire prediction of a severe market crash in the coming months triggered by a Lehman Brothers like failure stemming from an inevitable economic slowdown from new Covid-19 lockdowns in Europe and the US.
[Softbank founder and CEO Masayoshi Son said he fears a major bank or corporate failure similar to Lehman Brothers in coming months due to market instability from Covid19 pandemic and refuses to rule out take private during New York Times DealBook 2020 Summit moderated by Andrew Ross Sorkin on November 17, 2020]
If the US Senate remains in Republican hands, Biden not only will be forced to abandon his agenda for massive tax hikes but also work with Congress to make politically painful structural reforms to social security and Medicare (raising age requirements) already being lobbied for by Nebraska’s doom and gloom republican senator, Ben Sasse.
Even as global markets celebrate the apparent lack of radical change in Biden’s economic policies, foreign affairs can easily create catastrophic failure for the nascent Biden administration as it tackles unprecedented geo-political instability around the world marked by an emboldened Iran, a weakened Russian Federation and a militarily belligerent China.
President-elect Biden can exploit a seemingly off-the-wall proposal by US Attorney General William P. Barr calling for the creation of a US-European 5G competitor to China’s state owned Huawei via a US corporate takeover of Espoo, Finland-based Nokia Corporation (NYSE:NOK) and Stockholm, Sweden-based LM Ericsson (NASDAQ: ERIC) as a means to cement a new US-EU transatlantic alliance by thwarting China’s ambition of becoming the global leader in 5G technology.
Speaking at the China Initiative Conference in February 2020, Attorney General Barr — who speaks fluent Chinese and worked as a private sector TMT attorney for Kirkland Ellis–said the United States has only 18 months to roll-out a 5G network or may risk losing the leadership of the industrial internet to Huawei.
[US Attorney General William P. Barr filmed by Capitol Intelligence/CI GCA using CI Glass on massive US investment into and a potential merger of Nokia [NYSE:NOK] and LM Ericsson [NASDAQ: ERIC] to combat Huawei dominance of 5G at the China Initiative Forum at the Center for Strategic and International Studies (CSIS) in Washington, DC. February 6, 2020.]
The Biden administration should be able to use the White House bully pulpit and the Defense Production Act to convince US big tech giants such as Santa Clara, CA-based Oracle Corporation[NY
The Biden administration can also carry-out a policy of benign neglect regarding Iran by letting Trump’s Abraham Accords cement the UAE-Bahrain-Israel peace deal which continues to bear substantial fruit such as the historic visit by Israel Prime Minister Bibi Netanyahu to Neom in Saudi Arabia.
In fact, the UAE-Israel peace deal has already beaten all expectations regarding cross-border business cooperation as witnessed by the Fintech Abu Dhabi 2020 virtual summit with the participation of Bank of Israel Governor Amir Yaron and a delegation of leading Israeli tech companies led by Tekem founder Yossi Vardi.
The Biden administration can also follow Trump’s Business First strategy for Central Asia of using US private sector investment to create sufficient economic regional stability to allow the pull-out of US troops from Afghanistan.
The Business First strategy carried out by Trump’s private equity billionaire turnaround tycoon — Commerce Secretary Wilbur Ross — has been effective in not raising the hackles of Russian President Vladimir Putin while at the same time limiting China’s encroachment into Central Asia.
[US Secretary of Commerce Wilbur Ross filmed by Capitol Intelligence/CI GCA using CI Glass speaking at US-Uzbekistan Annual Business Forum following introduction by White & Case Senior Partner and American Uzbekistan Chamber of Commerce (AUCC) President Carolyn Lamm at the Ronald Reagan International Trade Center in Washington, DC. October 22, 2019]
Trump’s continuing legal battles contesting the 2020 elections are ultimately a means to put President-elect Joe Biden on notice regarding the true cost of failure as opposed to spiteful acts of a sore loser [Trump’s anger is mainly directed at the failures of the Republican National Committee (RNC) and local GOP state chairs].
President-elect Biden and his closest allies are fully aware that all the court records and allegations of election irregularities brought forth by Trump’s personal attorney Rudy Giuliani and others will serve as the Articles of Impeachment in 2022 in the event of a catastrophic failure of his administration over the next 18 months.
President-elect Biden would do well to reject extremist elements to his left and embrace a policy of bipartisanship by recreating
By PK Semler in Washington, DC, Philadelphia, PA and Atlanta, Georgia and edited by John Dodds in Bergamo, Italy.
For information please call +1-202-549-3399 or email pks@capitolintelgroup.com.
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