One: In the Ponnuru scenario, the Democrats could use every trick in the book, or indeed rewrite the book, to stop Sanders. Step forward, superdelegates! Hail, change in debate rules! The downside risk of this is a replay of the 1968 Chicago convention chaos, this time in Milwaukee. But it’s not like even the Bolshiest of Bernie Bros are going to stay home on November 3 if their choice is between a capitalist Democrat and Donald Trump, and the party knows this.
Two: Given Biden’s continual struggles and Elizabeth Warren’s rapid fade, the race could narrow to a Sanders–Bloomberg contest quickly if Buttigieg’s momentum were to stall. Some of Warren’s fans among technocrats and the highly educated will even defect to Bloomberg, on the grounds that he’s the sort of managerial-class mandarin they feel an affinity with. (Warren’s anti-capitalist rhetoric is, I think, seen as merely performative by a significant percentage of her devotees.)
Three: Money. It’s preposterous how rich Bloomberg is.
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