SPONSORED:

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 BloombergDwayne 'The Rock' Johnson vs. Donald Trump: A serious comparison On The Trail: The political perils of Snowmageddon Five things to watch in the New York City mayoral race 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 TrumpSacha Baron Cohen calls out 'danger of lies, hate and conspiracies' in Golden Globes speech Sorkin uses Abbie Hoffman quote to condemn Capitol violence: Democracy is 'something you do' Ex-Trump aide Pierson planning run for Congress MORE. It takes a lot of hubris for a mealy-mouthed technocrat like Bloomberg sees the populist rise of Bernie SandersBernie SandersSenate Democrats nix 'Plan B' on minimum wage hike Senate mulls changes to .9 trillion coronavirus bill NFL's Justin Jackson praises Sanders for opposing Biden's USDA nominee MORE, Elizabeth WarrenElizabeth WarrenSenate mulls changes to .9 trillion coronavirus bill Exclusive: How Obama went to bat for Warren Minimum wage setback revives progressive calls to nix Senate filibuster 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 BidenBiden offers support to union organizing efforts Senate Democrats nix 'Plan B' on minimum wage hike Kavanaugh dismays conservatives by dodging pro-Trump election lawsuits 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 ButtigiegPete ButtigiegExclusive: How Obama went to bat for Warren The Hill's 12:30 Report - Presented by Facebook - Biden vs. Trump, part II Chasten Buttigieg jokes about his husband biking home from work 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 HarrisBrown vows Democrats will 'find a way' to raise minimum wage Dwayne 'The Rock' Johnson vs. Donald Trump: A serious comparison Exclusive: How Obama went to bat for Warren 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 SteyerTom SteyerGOP targets ballot initiatives after progressive wins On The Trail: The political losers of 2020 Biden Cabinet picks largely unify Democrats — so far 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.