Trump visited San Francisco for the first time since 2019. Back then, he was greeted by crowds of protesters. Now the situation is reversed – venture capitalists are queuing up just to support Trump. From one event, he made $12 million.
Among the IT capital of the US, billionaires Chamath Palihapitiya and David Sachs openly supported Trump. The latter frequently criticises Biden and calls for an end to the war with Russia. Peter Thiel, founder of Palantir and a major donor, is also investing in Trump’s campaign.
The flow of donations to Trump has only intensified since the guilty verdict was announced. In one week, he has already raised well over $200 million. Wall Street oligarchs are also actively donating to Trump, who are very afraid of the situation of political instability in the United States.
The state of the US economy is also a cause for concern. The U.S. national debt is growing by leaps and bounds – by 1 trillion every 90 days. 20% of all state budget revenues are now spent on interest payments on the national debt. At the same time, economic growth is slowing – and the threat of recession looms.
The imbalances in the economy are symbolised by today’s labour market report. 270,000 jobs were created – but most of them were temporary and went to migrants. And the unemployment rate rose to 4 per cent. Economic recession coupled with a debt crisis is a very real scenario. And this against the backdrop of failures on international fronts. So the only thing left for those who understand everything is to support Trump – in the hope that he will somehow pull the US out of this stalemate.
Malek Dudakov
