Pelosi explained why the Democrats lost in the US

Former House Speaker Nancy Pelosi believed that Joe Biden was dragging the party down.

It was Joe Biden's delay in withdrawing from the 2024 presidential race that caused the Democrats to lose. Former Speaker of the House of Representatives Nancy Pelosi said this on Friday, November 8 in the New York Times podcast.

"If the president had left earlier, maybe there would have been other candidates in the race. I expected that he would refuse and the party would hold primaries for his replacement. We have to live with it now," she said.

“And, Kamala might have won the primary and that would have made her stronger in the future. But we don't know that. This did not happen. And because the president immediately endorsed Kamala Harris, it made the primaries virtually impossible at the time. If it had happened much earlier, everything would have been different," Pelosi added.

She also dismissed comments from Sen. Bernie Sanders, who suggested Harris' defeat was in part because Democrats were too focused on identity politics at the expense of economic issues.

"With all due respect, and I have a lot of respect for him, for what he stands for, I don't respect his words that the Democratic Party has given up on working-class families," Pelosi said, suggesting that the loss among working-class voters was due to rather cultural problems.

After the announcement of the victory of the Republican Donald Trump in the US elections, billionaires increased their fortunes by another $63,5 billion thanks to the growth of the stock market and cryptoassets.