• Post-2024 Options for Harris:
  • Early polling suggests Democrats support Harris for a 2028 presidential bid, though the field is already crowded with rising stars like Gavin Newsom, Gretchen Whitmer, and Pete Buttigieg.
  • Harris could also run for California governor in 2026, with nearly half of California voters likely to support her, according to a recent poll.
  • Other possibilities include advocacy roles, focusing on public policy or resistance to Trump’s second-term agenda.
• 2024 Election Context:
  • Harris conceded to Trump after a bruising loss where the GOP swept swing states and secured both chambers of Congress.
  • She emphasized her determination to continue fighting for Democratic values.
• Historical Parallels:
  • Like other vice presidents who lost presidential bids, Harris has multiple paths.
  • Nixon ran for governor before returning to win the presidency, Humphrey returned to the Senate, and Gore shifted to environmental activism.
• California’s Political Landscape:
  • With Gavin Newsom term-limited, Harris could step into the governor’s race in a state positioned to resist Trump’s policies.
  • A gubernatorial term could remove her from contention in 2028 but leave doors open for 2032.
• Leadership in Resistance:
  • Democratic strategists suggest Harris could become the “face of the Democratic resistance” against Trump’s policies, particularly on progressive issues in California and nationwide.
• Reflection and Rebuilding:
  • Harris is expected to play a key role in the Democratic Party’s rebuilding process.
  • Like Hillary Clinton’s What Happened, Harris may write or speak about her 2024 campaign experience, offering insights for the party’s future strategy.

Kamala Harris’s next steps remain uncertain, but her potential paths—presidential runs, gubernatorial bids, or advocacy—underscore her enduring role as a leader in the Democratic Party. As she considers her options, Harris’s influence is poised to shape the party’s direction in the years ahead.

The post What’s Next for Kamala Harris After 2024? first appeared on Finblog.

• Significant Expenditure on Private Flights: In October alone, the Harris campaign disbursed $2.6 million on private aviation, contributing to a total of over $10 million spent on private flights since July.
• Major Beneficiaries: The primary recipients of these funds were Private Jet Services Group, which received $2.2 million, and Advanced Aviation Team, receiving $430,000.
• Other Notable Expenses: The campaign also made significant payments to other parties, including $1 million to Oprah Winfrey’s production company for a rally appearance and $4 million to Village Marketing Agency for social media influencer engagements. Furthermore, at least $15 million was directed towards event production.
• Environmental and Financial Criticism: The use of private jets has drawn criticism not only for its financial impact but also for environmental reasons. Harris has previously identified climate change as an “existential threat,” making these expenditures particularly controversial given the high carbon footprint of private aviation.

This financial behavior, especially in light of the campaign’s substantial debt, is now under scrutiny as stakeholders and observers question the decisions that led to such high spending.

The post How Kamala Harris Burned Through $1.5 Billion in 15 Weeks first appeared on Finblog.

Kamala Harris’s Income Sources

Harris has served in various roles, including District Attorney of San Francisco, Attorney General of California, U.S. Senator, and now Vice President of the United States, which has increased her annual income progressively.

1. Vice Presidential Salary: Harris earns $235,100 annually as Vice President, alongside executive branch benefits, making this her primary source of income since taking office in January 2021.
2. Book Royalties: Harris is the author of notable books, including The Truths We Hold and Superheroes Are Everywhere. These works contribute significantly to her wealth, with The Truths We Hold securing a substantial advance and ongoing royalties. Her earnings from book royalties over the years are estimated in the six-figure range.
3. Speaking Engagements: Before becoming Vice President, Harris also earned income from speaking engagements. While specifics on individual fees aren’t publicly disclosed, speaking engagements are common and profitable sources of income for public figures.

Kamala Harris and Doug Emhoff’s Investments

Harris and her husband, Doug Emhoff, have diversified their financial portfolio through investments in real estate and retirement accounts. According to financial disclosures, their collective net worth is enhanced by Emhoff’s successful legal career and their prudent investments.

1. Real Estate Holdings: The couple owns multiple properties, including a San Francisco condo valued at over $800,000, an apartment in Washington, D.C., and a Los Angeles property, with their combined real estate portfolio estimated at around $2.5 million.
2. Retirement Accounts and Investments: Their investments in various retirement accounts, including mutual funds and index funds, total between $1 million and $3 million. This includes Emhoff’s retirement funds from his law career, as well as Harris’s retirement savings from her public service tenure. These accounts have grown over the years, contributing to the couple’s stable net worth.
3. Additional Assets: Harris and Emhoff also have taxable brokerage accounts and cash holdings that add to their wealth, providing financial stability and growth potential. Their diversified investments underscore a careful approach to wealth management, helping them maintain their estimated $7-8 million net worth even through fluctuations in the market.

By combining income from Harris’s public career, royalties, and the couple’s investments, Kamala Harris and Doug Emhoff have built a robust financial profile that places Harris among the wealthier figures in public office.

Related articles:

Donald Trump Net Worth: How He Makes Money

Sources:

1. https://www.forbes.com/sites/kylemullins/2024/05/26/heres-how-much-kamala-harris-is-worth/
2. https://www.investopedia.com/kamala-harris-net-worth-8681632
3. https://time.com/7001574/kamala-harris-net-worth/
4. https://fortune.com/2024/10/26/how-much-is-kamala-harris-net-worth-money-salary-president/

The post What is Kamala Harris Net Worth and How She Made Millions? first appeared on Finblog.

• Historic Spending: The total projected spending for the 2024 election is $15.9 billion, a significant rise from 2020’s $15.1 billion and more than double the amount in 2016.
• Presidential Race Focus: Kamala Harris and Donald Trump lead in fundraising, with their campaigns and supporting PACs amassing a combined $2.7 billion.
• Top Donors: High-profile billionaires like Michael Bloomberg and Bill Gates have contributed significantly, with Bloomberg and Gates each donating $50 million to Harris.
• Trump’s Wealth: Donald Trump, boosted by his business ventures, briefly reached a net worth of over $8 billion, though it has since adjusted to under $6 billion.
• Billionaire Backers: At least 135 billionaires have financially supported Harris or Trump, with 83 supporting Harris and 52 backing Trump.

With record-breaking sums and substantial contributions from billionaires, the 2024 election underscores the growing financial stakes and the profound impact of wealthy donors on U.S. politics.

The post The Billions Behind The 2024 Presidential Election first appeared on Finblog.

• Latin American Perspective: Many in Latin America favour Trump, viewing his potential re-election as a return to more prosperous times with less economic stagnation and stronger US investment in the region. They associate Trump’s previous term with economic growth and are wary of the continuation of Biden’s policies under Harris, which they fear could exacerbate regional instability and economic challenges.
• European Viewpoint: In contrast, European sentiment leans significantly towards Harris, with prevalent concerns over Trump’s foreign policy approaches, particularly his stances on NATO and Ukraine. Europeans generally perceive Trump as isolationist and worry about the global implications of his potential policies according to Latin America expert Joseph Humire.
• Impact on Democracy and Foreign Policy: Trump is seen by some as a figure who could strengthen US international stature but raise risks in democratic backsliding, while Harris is viewed as potentially stabilizing but inexperienced in foreign affairs.
• Influence on Specific Issues:
  • Migration and Crime: Latin Americans are concerned about increased crime and migration issues under current policies, which they feel might continue under Harris.
  • Economic Relations: There is a strong desire in Latin America for enhanced economic ties and investments from the US, which many believe Trump might bolster.
  • Security Concerns: Europeans are apprehensive about Trump’s approach to security, particularly regarding Russian aggression.

The US election is a pivotal event with far-reaching consequences, watched closely by the world. Each candidate carries distinct implications for international relations, democracy, and global stability, reflecting divergent expectations and concerns across different regions. As such, the global stakes of the election underscore the profound international impact of US leadership choices.

The post Ahead of election, what do Latin Americans, Europeans think about Donald Trump, Kamala Harris? first appeared on Finblog.

• Kamala Harris’ Pennsylvania Focus: On November 4, 2024, Harris is set to visit Pennsylvania, a crucial swing state with many electoral votes. She plans rallies in Allentown, Pittsburgh—where her event had to be moved to a larger venue—and Philadelphia. She is joined by celebrities like Katy Perry, Lady Gaga, and Oprah Winfrey to draw large crowds and energize her base.
• Donald Trump’s Multi-State Tour: Trump is undertaking a more extensive route on the same day, starting in Raleigh, North Carolina, then moving to Pennsylvania for rallies in Reading and Pittsburgh, and concluding with a late-night event in Grand Rapids, Michigan.
• Polls and Voter Sentiment: Early November polls show a tight race with Harris slightly leading in Pennsylvania. Both candidates use their final rallies to solidify their standings and sway undecided voters in these critical states.
• Celebrity Influence: The campaigns are leveraging celebrity power to appeal to voters, with Harris’s events featuring performances and endorsements from major stars, enhancing her appeal to younger and culturally engaged voters.
• Strategic Importance of Pennsylvania: Both candidates have focused heavily on Pennsylvania due to its high electoral vote count and pivotal role in previous elections. Their activities here are crucial as they make their last pitches to voters.

The post Election 2024 latest: Who is winning as presidential election campaign enters final day first appeared on Finblog.

• Voter Concerns: Housing affordability is a significant issue, with 24% of renting voters considering it their top economic concern.
• Rising Home Prices: Over the last four years, US home prices surged by 45%, with median prices hitting record highs.
• Impact of Interest Rates: High mortgage rates, currently just below 7%, exacerbate the affordability crisis, impacting both home buyers and the broader economic sentiment.
• Differences in Candidate Approaches:
  • Harris’ Plan: Includes a $25,000 down-payment assistance and a $10,000 tax credit for first-time home buyers, alongside a plan to build 3 million new housing units and regulate rent-setting practices.
  • Trump’s Focus: Emphasizes reducing housing costs by deporting undocumented immigrants and utilizing federal lands for housing, with promises to lower interest rates and provide tax incentives for homeownership.
• Legislative Challenges: Any new housing policies proposed by Harris would require congressional approval, which could be difficult to obtain.

Housing policy has emerged as a pivotal issue in this election, reflecting deep voter anxiety about affordability. The candidates’ differing approaches highlight a fundamental divide in their strategies to address the crisis, with significant implications for future housing market dynamics.

The post Housing Takes Center Stage in US Election: Harris and Trump have their own answer first appeared on Finblog.

A Trump Win, with or without a Republican Sweep:

• Financial markets are leaning towards a bullish scenario if Donald Trump wins, especially if accompanied by a Republican sweep in Congress.
• Banks and cyclical stocks are expected to benefit, as suggested by the recent outperformance of the SPDR S&P Regional Banking ETF.
• Julian Emanuel of Evercore ISI forecasts a substantial market surge post-election, with the S&P 500 possibly surpassing 6,000 points by year-end due to a ‘performance chase meltup’.
• A divided Congress might temper immediate gains but could still lead to a significant market uptick during the seasonally strong months of November and December.

A Harris Win, with or without a Democratic Sweep:

• A Kamala Harris presidency could initially shock the markets, especially if the Democrats also gain control of Congress. This scenario might lead to a dip in the S&P 500.
• Analysts predict a potential drop in cyclical and small-cap stocks, with a shift towards high-quality tech stocks if Harris wins.
• Bond yields may decrease, providing a slightly easing financial environment.
• If Harris wins but faces a divided Congress, the markets might experience an immediate drop, followed by a period of uncertainty. Depending on the election’s contestation level, the market might stabilize or continue to experience volatility.

As Election Day approaches, the stakes are high, and the market’s direction hinges on the electoral outcome. Both scenarios suggest significant market movements that investors should prepare for. Regardless of who wins, the post-election period will require careful navigation as new policies and economic directions take shape.

Related article: The Top Tips for Investors Navigating the Election from Expert

The post How the stock market is likely to react to the election outcome first appeared on Finblog.

• Market Strategy: Chubb recommends adopting a neutral stance in the equity markets as the election could lead to divided outcomes and controversy. He highlights the importance of not making aggressive moves but instead focusing on solid fundamentals.
• Stock Selection: This quarter has been particularly good for selective stock picking. Stocks that outperformed expectations have seen significant rewards, making it a favourable environment for discerning investors.
• Sector Focus: Chubb suggests paying attention to cyclicals that are currently under-appreciated, like banking sectors, which may offer good value.
• Fixed-Income Investments: He advises taking profits in fixed-income investments as part of regular portfolio rebalancing to avoid potential losses from interest rate adjustments that could affect bond prices.
• Corporate Health: Despite strong corporate balance sheets, Chubb cautions that slower top-line growth and upcoming debt refinancing for many companies could pressure profit margins, especially for smaller cap stocks.

Chubb’s insights reflect a strategy of prudence and selective investment during uncertain economic times, especially leading up to potentially contentious elections. Investors are encouraged to maintain balanced portfolios and focus on long-term fundamentals rather than reactive trading.

Related article: How the stock market is likely to react to the election outcome

The post The Top Tips for Investors Navigating the Election from Expert first appeared on Finblog.

• Targeted Advertising: The Future Forward USA Action PAC is focusing on Trump’s connection with wealthy donors like Musk in their ads. These ads are being heavily played in swing states.
• Public Reaction Mixed: Some voters are unsure about Musk, influencing the Democrats to intensify their ad campaigns against him. These ads are being shown during major events like NFL games.
• Controversial Posts: Musk’s posts on social media, where he agreed with Trump’s economic policies, have sparked reactions. The Harris campaign has used these opportunities to criticize Trump’s economic strategies.
• Polling Insights: Polls show mixed feelings among voters about Musk’s endorsement of Trump, with some being less likely to support Trump because of Musk.
• Focus on Musk: As election day nears, both campaigns are highlighting or downplaying Musk’s role, depending on their strategy. Musk’s recent appearances and statements are being used by Democrats to paint a picture of Trump being too close to billionaires.

Elon Musk’s visible support for Donald Trump is becoming a focal point in the 2024 election. Democrats are using this association to challenge Trump’s appeal and portray him as aligned too closely with elite interests, potentially swaying undecided voters.

The post How Kamala Harris is trying to use Elon Musk against Donald Trump first appeared on Finblog.