2024 Election Would Be 'Double Referendum' Roller-Coaster With Biden-Trump Going Head-To-Head: Expert

The 2024 presidential election could turn into a “double referendum” if the contest ends up being between Joe Biden and Donald Trump, according to the president of Penta Group, Matt McDonald.

McDonald highlighted in an op-ed carried by The Wall Street Journal that the election strategies of both candidates will likely be more about turnout than persuasion, given that public opinions about both Biden and Trump are already well-established. The potential for external events and destabilizing shocks could significantly impact their success.

The fight against inflation will be a key issue for voters, as the economic instability continues. High-interest rates, tightened credit and the uncertain future of the commercial real estate sector pose multiple risks that could turn the 2024 race into a roller-coaster.

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Furthermore, the geopolitical climate, including the partial decoupling with China, Russia’s war in Ukraine, and the withdrawal from Afghanistan, adds to the uncertainty.

Personal issues for both candidates could also influence the race. For Trump, his legal troubles could be a major risk, while for Biden, the scrutiny will continue to be on his age, health, and fitness for the job.

All these factors point to a volatile and uncertain election without precedent, signaling a need to discard old playbooks and prepare for a tumultuous ride.

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