Saagar Enjeti: Bloomberg 2020 bid would 'all but ensure a Bernie Sanders victory'

Opinion by: Saagar Enjeti

The Democratic race may have another billionaire entrant here to save the day.

Former Mayor of New York City, Michael BloombergMichael Rubens BloombergDemocrats worry they don't have right candidate to beat Trump Founder's presidential bid puts Bloomberg News in spotlight Bloomberg files for Democratic presidential primary in Arkansas MORE, has filed paperwork to get on the ballot in the state of Alabama. A seemingly mystifying late possible entry to the race that is sure to change....well absolutely nothing to be honest, and if it does, it is not going to go the way that he hopes.

Bloomberg advisor Howard Wolfson tweeted yesterday that the current democratic field is “not well positioned” to defeat Donald TrumpDonald John TrumpTrump faces high stakes in meeting with Erdoğan amid impeachment drama Democrats worry they don't have right candidate to beat Trump Trump threatening to fire Mulvaney: report MORE. It takes a lot of hubris for a mealy-mouthed technocrat like Bloomberg sees the populist rise of Bernie SandersBernie SandersDemocrats worry they don't have right candidate to beat Trump Overnight Health Care: Top health official defends contract payments to Trump allies | Vaping advocates confident Trump will turn from flavor ban | Sanders gets endorsement from nurses union Krystal Ball credits Gabbard's upswing in 2020 race to 'feckless' Democratic establishment MORE, Elizabeth WarrenElizabeth Ann WarrenDemocrats worry they don't have right candidate to beat Trump Overnight Energy: BLM staff face choice of relocation or resignation as agency moves | Trump says he's 'very much into climate' | EPA rule would expand limits on scientific studies Krystal Ball credits Gabbard's upswing in 2020 race to 'feckless' Democratic establishment MORE, and Donald Trump and think that his brand of centrism is poised to catch on.

The best part, of course, is that Bloomberg’s gamble is absolutely destined for failure, even if he did begin to catch on, because the greatest beneficiary of his rise would be Joe BidenJoe BidenDemocrats worry they don't have right candidate to beat Trump Trump threatening to fire Mulvaney: report Giuliani pens op-ed slamming 'unprecedented' impeachment inquiry MORE and Bernie Sanders. Let me explain. Bloomberg has made the same problem that many in the media have: he sees the faltering of Joe Biden and concludes that the race is missing a strong and experienced centrist like himself who can unite all sides.

Absolutely wrong. Bloomberg was elected in New York City on the backs of the professional managerial class, literally. These people are upper middle-class white liberals to their very core. So who exactly do you think would even flock to him in such a scenario?

Well guess what, those upper middle-class white liberals all support Elizabeth Warren and Pete ButtigiegPeter (Pete) Paul ButtigiegDemocrats worry they don't have right candidate to beat Trump Saagar Enjeti rips Buttigieg for praising Obama after misquote Krystal Ball credits Gabbard's upswing in 2020 race to 'feckless' Democratic establishment MORE. Bloomberg has no chance to win over the overwhelming amount of black voters in this country who support Joe Biden, the Latino voters who are backing Joe Biden and Bernie Sanders, or the white working-class voters across the country who back Biden, Sanders, and yes, Donald Trump. The crossover support he has is purely with candidates like Elizabeth Warren, Kamala HarrisKamala Devi HarrisOutsider candidates outpoll insider candidates Poll: Buttigieg leads Democratic field in Iowa Press: Another billionaire need not apply MORE, and Pete Buttigieg.

In other words, say Bloomberg catches on, the top leaders in the field will probably be Bernie Sanders followed by Joe Biden and then some combination of Warren, Bloomberg, and Buttigieg. He could all but ensure a Bernie Sanders victory, which I'm reasonably certain would actually be far worse for him than the Elizabeth Warren presidency that he is so afraid of.

As Osita Nwanevu said on Twitter after the announcement, it seems like billionaires don't spend their wealth that efficiently after all! Especially considering that Tom SteyerThomas (Tom) Fahr SteyerSteyer scores endorsement from key New Hampshire activist Excitement over Bloomberg's trial balloon should concern Democrats New Quinnipiac poll finds Biden leading in New Hampshire MORE spent almost 7 million dollars a minute of speaking time that he got in the last debate, and whose campaign is embroiled in scandal for allegedly offering campaign contributions up to elected officials in Iowa if they endorse him.

The key here. of course, in both cases is how ludicrous Bloomberg’s candidacy appears and how much hubris a person must have to think that because they were good at standardizing financial news they can rise to the occasion and become president of the United States.

I'll leave you with this particular gem. It's the man who wants to be president saying that Chinese president Xi Jinping really isn't a dictator. Is he a Chinese asset? He'll have to answer that question this campaign cycle.