For any nation to sustain a democracy, it needs to have at least two competitive political parties that support candidates in their elections. These must be free and fair elections, after which all parties accept their results.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
The Republican Party Has Become Anti-Democratic
Throughout our nation’s history, we have maintained this political balance – until now. Over the last few years, the Republican Party has become increasingly anti-democratic.
More than a year after the 2020 presidential election, a majority of Republican voters and Republican members of Congress have refused to accept that the Democratic candidate, Joe Biden, actually won. Together, they have caused a growing loss of faith in the democratic political process itself.
Earlier this week, South Dakota U.S. Senator Mike Rounds made political news by stating that Joe Biden had clearly beaten Donald Trump in the 2020 election. He was immediately attacked by the former president, who asked, “Is he crazy or just stupid? I will never endorse this jerk again.”
Trump, of course, still refuses to accept that he lost the election – even though it wasn’t even close – insisting that it had been stolen from him. His tens of millions of ardent followers accept this as fact, even though their dear leader has not provided a shred of proof.
Democracy Will Lose
The January 6th insurrection aimed at disrupting the counting of the presidential electoral vote was very likely just a dress rehearsal for a much larger and better organized insurrection in 2024. With tens of thousands of radical Republican political operatives controlling not just controlling most of the state legislatures, but also their state electoral apparatus, they will be well positioned to ensure that the Republican presidential candidate wins.
So, the 2024 presidential election is shaping up to be a heads-we-win, tails-you-lose proposition for the Republicans. The only question is whether they win fair-and-square, or if they steal the election. Either way, democracy will lose.