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FX.co ★ Biden has already won but for Trump, the race is far from over.

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Forex Analysis:::2020-11-09T08:59:13

Biden has already won but for Trump, the race is far from over.

Biden has already won but for Trump, the race is far from over.

On Saturday, several major television stations announced Joe Biden as the new President of the United States.

Trump, who has repeatedly claimed election fraud, immediately accused him of "rushing to impersonate the winner," and said "the election is far from over."

Some sources backed this up and claimed that in several states in which Trump was clearly winning, such as Pennsylvania and Georgia, the machine that counted the votes broke down, after which they announced that Biden was in the lead.

Thus, Trump is very keen on challenging the results in court, but legal experts say his objections have little chance of influencing the outcome.

In Michigan, 78% of the population supported Biden at the suggestion of former President Barack Obama, under which Biden was vice president.

Obama and Biden were elected back in 2008, and during their term, the global economy emerged from a mortgage crisis and collapse in investment banks, which many experts refer to as "the worst of the economic crises."

During that time, Biden, who spent more than a quarter of a century in Congress before becoming vice president, helped push through an $ 800 billion stimulus package that Republicans criticized as wasteful and too small on the left.

In addition, the unemployment rate in the US did not drop below the threshold at which Obama and Biden were elected until their second term began.

Today, the economic landscape is bad again: the US economy is technically in recession and is 3.5% smaller than it was in early 2020, even after record growth in the third quarter.

Accordingly, even if there was a falsification of votes in the current elections, it was no coincidence, drawing a parallel to the previous historical crisis and the way out of it.

Both sides described the 2020 election as one of the most important in US history, just as important as during the Civil War of the 1860s and the Great Depression of the 1930s.

In it, Kamala Harris has won Vice President, becoming the first female black American and the first Asian-American to hold a second high position in the United States.

Harris, 56, is seen as the obvious Democratic candidate in 2024, if Biden, who turns 78 at his January 20 inauguration, chooses not to run for a second term.

Analyst InstaForex
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