Joe Biden’s Support is Crumbling
Author: Greg Valliere
July 18, 2024
JOE BIDEN’S POLITICAL CAREER is coming to an end, probably by next week, as his support among key Democrats has crashed and his poll numbers show a strong desire by the public for anyone other than him.
THE BELEAGUERED PRESIDENT, now facing a mild case of Covid, sent a signal this week when he conceded that he would consider dropping out if a doctor certified that he has a “medical condition.”
WE CONTINUE TO BELIEVE THAT BIDEN is suffering from a neurological illness, probably a form of dementia. One of the symptoms of this horrible disease is a volatile temper, and Biden is has been furious in recent meetings with Democratic leaders.
WITHIN THE PAST 48 hours Biden has met with Nancy Pelosi, Hakeem Jeffries and Chuck Schumer, who have urged him to step down. They all cited polls showing nearly two-thirds of all voters want him to resign. Perhaps more importantly for his congressional allies, there’s a growing sense that the Republicans will take the House and Senate with Biden at the top of the ticket.
DETAIS OF BIDEN’S LIKELY EXIT are still unclear. The party may hold a virtual vote before the Democrats begin their national convention on Aug. 19. But insiders say it could come sooner than that, as Vice President Harris prepares to be the nominee. There’s virtually no chance that anyone other than Harris would be at the top of the ticket.
HARRIS COULD BRING SOME EXCITEMENT and energy to the demoralized party, but the most that Democrats can hope for is a decent showing, perhaps coming close to capturing one of the two houses. Trump is the overwhelming favorite against Harris or any of the party’s young and hungry governors.
THERE ARE TWO ARGUMENTS FOR BIDEN STAYING: First, Democrats in this town have great affection for him; second, Democrats are resigned to losing the election anyway, so why not stick with Biden?
BUT THERE’S AN OVERWHELMING fear about House and Senate losses, as Republicans leave Milwaukee with strong momentum and enthusiasm.
A PERSONAL NOTE: We’ve been writing for the past several weeks that Biden would not be on the ticket, but it gives us no pleasure to see him in such rapid decline. His inner circle has covered up his disease, pushing this frail old man into a grueling presidential race.
THESE ADVISERS have hidden the truth from him, and they eventually will have to answer for what amounts to elder abuse, clearly a factor in Biden’s humiliating demise.
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.
©2024 AGF Management Limited. All rights reserved.
