Umair Haque is an economist who writes at a blog called The Issue. He recently addressed an issue that has befuddled me and probably you as well. How is it possible that Trump is tied in the polls with Kamala Harris? He is an embittered old man who spews hate and cares only about himself; she is a vibrant and empathetic woman who wants to make life better for everyone. How can they be tied?

Haque has an answer. Democrats keep talking about how good the economy is, but they don’t speak to the vast number of people who are struggling economically.

He writes:

Day after day now, polls say the same thing.

The election’s deadlocked.

Despite all of it. History, immense spending, speeches, rallies, the drama surrounding Biden stepping down, the euphoria around Kamala.

So: what’s going on here?

What Makes Politics Move in a Capitalist Society?

By now, you should know, because precisely what we’ve discussed over the last few months is coming true.

Kamala and Tim aren’t connecting on the economy.

And yet it’s the Number One Issue for voters.

Let’s recap. America’s a hyper capitalist society. In such a society, the economy is always the top issue. It comes before everything else, because in a place like America, economics is existential. There are no real safety nets. And money, having enough of it, is literally everything.

That’s not so much the case elsewhere. To use the example I always do, the Sorbonne in Paris—Europe’s best university—is free. In America, sending a kid to an Ivy League school costs three times the median income, enough to bankrupt most families.

So the economy is always issue number one. Always.

And that’s why the Dems have a long, long history of losing. Because they are frankly pretty poor at crafting economic agendas which convince Americans, since they won’t admit Americans are in dire economic pain to begin with. Americans, meanwhile, have grown up in an environment which has sort of been poisoned, and any social contract or agenda remotely European or Canadian is instantly called “communism” or “socialism.”

Put those two trends together, and you can explain the Democrats’ long losing record—or why, in America, the default is that the GOP tends to win.

How Long Can the Democrats Keep on Ignoring the Economy?

But in times like these, the economy is…even more important. Crucial. It’s always the decisive factor, but this isn’t a normal era by any stretch of imagination.

The economy is a wreck.

It is doing really, really badly. If the question is: how’s capitalism doing, then the answer is, great. Yes, stock prices are roaring, sure, profits are in rude health, and yeah, CEOs are making out like pirate emperor bandits. But none of that’s the economy.

The economy is how average people are doing, and all the indications are they’re doing pretty terribly. Incomes just now crossed 2019 levels, and that means they fell for five straight years.

Meanwhile, prices exploded.

Before that came a long, long run of stagnation: median incomes for men, for example, are lower today than they were in the 1970s.

So people are struggling. The vast majority live paycheck to paycheck, large percentages struggle to pay bills, and of course, generations are in downward mobility, while “unretirement” is becoming a social trend.

The Democrats continue to make the fatal mistake they always make.

Ignoring all this.

People Trust Trump on the Economy More Because the Democrats Don’t Seem to Actually Care About It

Who was it that reached right into the heart of the working class, and empathized with its misfortunes? It wasn’t the Democrats. It was Trump.

Think of how bizarre that is. Trump’s a guy that likes to flaunt being a billionaire. But because the Democrats ignored the biggest socioeconomic issue of the last half century, he was able to walk away with the whole ballgame.

Let me put that even more sharply.

To this day, Democrats won’t dare mention this damning statistic, that median incomes are where they were, or lower, than half a century ago.

Those really are Roman sorts of social indicators, no exaggeration necessary. A half decade of stagnation is OK, maybe. But a half century?

But the Democrats never, ever even look in this direction. They look away awkwardly.

Their silence is deafening.

Why is Trump still so widely supported?

Because more people trust him on the economy. (And on immigration, which is the same thing, because here there’s a naive theory of economics, that immigrants take our jobs and so forth, which can be true, but in America, has more to do with the reverse, offshoring, etcetera.)

Why do people trust Trump more on the economy?

He empathizes with their pain.

The Democrats don’t even attempt to. They deliberately ignore it. But this is, let me say it again, the single biggest socioeconomic issue in modern history.

What happens when socioeconomics stagnate for long periods of time—like half centuries? Democracies die. People give up on their institutions and leaders. They give up on each other. They turn on one another…

And there’s a good reason why.

How Economic Stagnation Leads to Social Collapse

If the pie’s the same size, or shrinking, as it is for many Americans, then the only option is to try and fight tooth and nail to keep your slice. To have a bigger slice, you need to take it from someone else.

That’s how democracies die by way of stagnant or declining economies.

It isn’t a theory, speculation, opinion: there’s a formal mechanism at work, a kind of vicious cycle, an engine of ruin.

A shrinking pie, a stagnant one, necessitates a less democratic society. I have to take from you. To keep my slice the same size, I need to wrest it away from everyone else.

Thus, democratic norms of peace, equality, justice, and truth soon corrode. They’re replaced by authoritarian fascist norms of violence, domination, hierarchy, and blood-and-soil destiny.

This is how democracies die, and while that’s a phrase you’ll see used a lot, it’s not very well understood even by the columnists and pundits who sort of utter it ad infinitum. This isn’t a game. It’s not a set of platitudes.

This is what happened to America.

And still is.

“Hey, At Least They’re Not the Fascists”

The Democrats just refuse to acknowledge any of this. The long run stagnation. The decline. Any real aspect of it how it’s sort of wrecked the Dream, and destroyed generations of Americans’ fortunes and possibilities.

That leaves a gigantic, truly enormous, vacuum. One that’s big enough for Donald Trump’s ego to fill.

It’s a striking, bizarre thing to see the working and lower middle class support a billionaire, who of course, is also a convicted fraudster. Sort of crazy, right? That happens because nobody trusts the Dems on the economy, and nobody trusts the Dems on the economy because they won’t even admit a glimmer of reality when it comes to the economy.

So what truths can they speak back to people, to gain their trust?

Hence, here we are, sort of half-heartedly supporting them, most of us, knowing that they aren’t going to do a whole lot to really fix much, but hey, at least they’re not the fascists.

Not exactly the stuff of an inspiring politics, is it?

Why the Election’s Closer Than it Should Be

The Democrats still have time to fix this problem, and I say that chuckling, because we all know they won’t.

If anything, it’s probably going to get worse.

People are going to be mystified about why the Democrats think things are great, when they struggle to pay the bills.

They’ll look at Trump, who at least empathizes with them, and says things are bad out there, and it’ll strike a chord in them. Trump will continue to be more credible on the economy, the most important issue, even though he’s, wait for it, a convicted fraudster.

And after a time, Kamala’s grin is going to seem a little off kilter to a lot of people. Why does she keep on smiling, when things are pretty bad for me and mine? Is she for real? What’s the deal here?

I’m not trying to be unkind, I’m just pointing out that being joyous, while it’s fine and nice and good, and even touching, for those who are already true believers, also carries a risk in times like these. It can come across as tone-deaf. These are difficult, difficult days for the vast, vast majority of people, and I know that in statistics like “50% of young people feel numb” or “70% of people feel financially traumatized.”

Given those sorts of social currents, it might be tough to grin your way into the Presidency. In fact, it already is. The contest’s deadlocked. Joy is a tough sell, and at some point, it can verge on Let Them Eat Cake.

Again, those are wicked words, and I’m sorry to write them, but it has to be said, if only for the 0.001% chance the Democrats come to their senses, and begin to actually speak sense, truth, reality, on the Number One Issue to most people, the economy.

People don’t trust them on this issue, and there’s a good reason for that. Not what they want to do. But what they won’t say. The attitude they won’t take. The deafening silence everyone can hear when it comes to admitting how troubled and tough things actually are.

If I wanted you to trust me, and there was smoke billowing from the house, but I kept on telling you the curtains were wonderful, and hey, wait until you see the garage, what would you think of me? This is where the Democrats are heading when it comes to the economy, if they aren’t already, with a whole lot of people.

And that’s why the election’s a lot closer than it should be.