The 2024 presidential race ended with Donald Trump emerging victorious, a result that left Kamala Harris’s camp and much of the media scrambling for explanations. Wall Street analyst Charles Ortel offers his insights into the top three factors that led to Trump's decisive win:
1. The Failure of “Bidenomics” Despite Trillions Spent
According to Ortel, many Americans felt the impact of what he describes as the ineffective "Bidenomics." Despite substantial government borrowing and spending, the benefits seemed limited to connected insiders and political donors, leaving everyday Americans worse off. Ortel explains, “Americans vote thinking first about their economic welfare and prospects.” For many private-sector workers, inflation and taxes eroded wages, adding urgency to their support for Trump's economic agenda.
2. Rising Crime in Major Cities
Ortel also points to the spike in crime, especially in urban areas, as a major factor. With open-border policies and "soft-on-crime" approaches from certain district attorneys, many moderate and first-time voters felt unsafe and were drawn to Trump’s law-and-order stance. “The Biden-Harris approach, paired with defunding the police, pushed a broader base, including moderates, towards the MAGA movement,” Ortel notes.
3. Democrats' “Out-of-Touch” Campaign
Ortel describes the Democratic campaign as "even less competent" than previous cycles, suggesting that Harris and Walz struggled to connect with voters. He highlights how Trump's team presented a “diverse Dream Team of authentic heroes,” while Trump’s own strengths as a “master leader and salesperson” drew support across demographics. This broader appeal translated into notable support from Black, Latino, and women voters, shifting what were traditionally Democratic demographics toward Trump.
Ortel further suggests that, despite alleged attempts to manipulate the vote, Trump’s support was "too big to rig." With Trump now focusing on a domestic agenda, Ortel foresees a substantial reshaping of the government, with key roles potentially for figures like Elon Musk and Robert F. Kennedy Jr.
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