How Will The Upcomming Bernie Sanders Presidency Affect the Finance Industry and American Marketplace?

Nudnick McMooch's picture
Rank: King Kong | 1,539

I have a strong belief Bernie is going to sweep the remaining primaries and general election and become the next President. He will lose moderates and retirement age boomers to Donald Trump but take unprecedented amounts of the populist vote (the disgruntled rabble) away from him.

Assume this happens and Congress swings to a liberal majority in both houses. What are the effects on the finance industry and/or American business in general? Negligible with a slight stock market decline and marginal tax increase? Everyone quits their job and becomes a welfare stoner? We all get to run up a free tab on Bezos and Gates' credit cards with minimal economic blowback?

Curious to hear everyone's take.

Comments (43)

Feb 25, 2020

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Feb 25, 2020

Easily one of the dumbest takes on this website

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Feb 27, 2020

What did he say, I couldn't read it cause he deleted it.

Feb 26, 2020

GTFO here with the low effort bullshit

Feb 26, 2020

You should look up performance of the stock market under democratic administrations versus republican ones. You might be be surprised by what you find. .

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Feb 28, 2020
financeabc:

You should look up performance of the stock market under democratic administrations versus republican ones. You might be be surprised by what you find. .

What about performance of the stock market under communists?

Feb 25, 2020

The thing that you have to remember is that politicians are largely just hot air. Bernie doesn't know how money and banking works, he couldn't "rein in Wall Street", whatever he means by that, if he tried.

What is he going to do, make it illegal to pay for IPO help? I guess theoretically he could levy a special tax against fees paid as a result of financial advisory but good luck getting that passed and that would probably also force him and Congress to understand what investment bankers actually do and subsequently realize in the process there's really no benefit to making it more expensive for American companies to raise capital.

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Feb 25, 2020
Nudnick McMooch:

I have a strong belief Bernie is going to sweep the remaining primaries and general election and become the next President.

Odd. As a liberal, I'm far more convinced that if he is nominated, it's 4 more years of Trump.

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Feb 25, 2020

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Feb 26, 2020

eyeroll

Feb 25, 2020

What if Bernie wins and they do him like JFK?

I tried.
Most Helpful
Feb 26, 2020

Key elements of Sanders understanding of economics:
-there are no freeloaders in societies
-profits should be eliminated and wages should be high up to the point of almost bankruptcy for business
-if the rich runs away because of high taxes, it's ok to tax the middle class to death
-mass amnesties for illegal immigrants and free shit for everyone

100% success guaranteed from economics profs at Harvard etc. What could possibly go wrong?

As for finance, he has already stated you'll pay for the student debt, so that new generations can be trained to be socialists in your universities. I personally can't wait he makes part of his healthcare plan forcing Christians to pay for pre-teen gender transition.

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Feb 26, 2020

Even if you're just 10% correct, this scares the living shit out of me for my kids and their kids...

Don't @ me

Feb 26, 2020

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Feb 26, 2020

the libs

and it's nothing compared to what they are going to do to the country

Feb 26, 2020

We're coming for you, @neink

prancing

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Funniest
Feb 26, 2020
CRE:

We're coming for you, @neink

prancing

durr

I'm ready

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Feb 26, 2020

Nothing crazy will happen. Trump is a populist like Bernie who promised a ton of things that did not come to fruition despite having Republicans controlling both houses of Congress in his first two years as President. Even a Democrat controlled government following the GFC did not destroy the financial industry or nationalize industries at a time when people's confidence in the economy reached a low point. When you consider that maybe 10 or so Democrats in Congress think like Bernie it's very realistic to assume that he will not get any major legislation passed, very much like his time in Congress. Without support from his party, no major policy will be written and executive orders can only go so far. Anyone preparing for a doomsday scenario is kidding themselves

I'm a fun guy. Obviously I love the game of basketball. I mean there's more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at

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Feb 26, 2020

AYO who's man's is this?

Feb 27, 2020

I don't think Bernie can beat Trump. Trump is going to use socialism against Bernie, and many moderates might flip to Trump, seeing that Bernie is the most left leaning politician in modern American history.

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Feb 27, 2020
mjbanker:

I don't think Bernie can beat Trump. Trump is going to use socialism against Bernie, and many moderates might flip to Trump, seeing that Bernie is the most left leaning politician in modern American history.

My take is moderates may flip to Trump but there is more rabble than there are moderates and the rabble will vote Bernie in spades. I say that as a moderate Democrat who will be begrudgingly voting for Trump this election if Bernie or Warren get the ticket.

Feb 28, 2020
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Mar 8, 2020