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Attitudes Are Changing, Dramatically

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Attitudes Are Changing, Dramatically

Author: Greg Valliere

October 12, 2023

SOMETIMES A SHARP SHIFT of the political pendulum is not immediately apparent; it takes time for huge mood swings to sink in. That may be occurring now, as a new consensus takes shape.

WHAT’S OUT? A naive view of the Mideast, trendy on university campuses, has encountered a fierce pushback. Professors who equate the Hamas pogrom with Israel’s imminent move into Gaza are facing ridicule and ouster. The tiny minority in Congress that refuses to support Israel will soon be voted out of office.

WHAT’S IN? Far more spending on defense, both for Israel and Ukraine. The clown car that passes for the House of Representatives, still bitterly gridlocked, will be unable to stop new military outlays. That’s a potential victory for Joe Biden, who has looked deadly serious in the past week while Donald Trump sought to settle scores with Benjamin Netanyahu.

TRUMP MAY BECOME THE POSTER BOY for saying the wrong thing at the wrong time. He declared yesterday that Hezbollah is “smart,” which prompted an avalanche of ridicule of the former president, who has never forgiven Netanyahu for being insufficiently supportive several years ago.

THE ISRAELI LEADER HAS CEMENTED TIES to Biden, who has made his share of blunders but now gets to do the right thing — he will, and he won’t be alone. Virtually all major players in both political parties will fiercely support Israel, from Nikki Haley to Marco Rubio to Antony Blinken, who is becoming a dominant Secretary of State.

THE OUTCOME, OF COURSE, WILL BE A CRUSHING DEFEAT OF HAMAS, ridding the world of these monsters. There will be no negotiations; these criminals will be killed. Just as ISIS was wiped out, Hamas will vanish. As we look for positives, there’s the near-certainty that naive thinking, too late to save thousands, finally will attract the loathing it so richly deserves.

THIS IS NOT GOOD NEWS FOR VLADIMIR PUTIN, another butcher. He reportedly thinks Russia will eventually prevail in Ukraine because the West — primarily the U.S. — will lose its resolve to help Kyiv. Imagine the uproar if Washington abandons Ukraine. The chances of that happening have diminished greatly in the past week.

WHAT’S MISSING IN THIS BATTLE FOR U.S. PUBLIC OPINION? A dominant Churchillian figure who will rally the public. Biden will try but his frailty is a concern. Others need to speak out fiercely; we plan to watch Haley, who bluntly said this week that Hamas must be “eliminated.” She’s correct.


The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.

The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

For further information, please visit AGF.com.

©2025 AGF Management Limited. All rights reserved.

Written by

Greg Valliere

Greg Valliere

Chief U.S. Policy Strategist

AGF Investments

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