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The Democrats Have a Tim Walz Problem

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The Democrats Have a Tim Walz Problem

Author: Greg Valliere

October 4, 2024

DEMOCRATS IN THIS TOWN WERE APPREHENSIVE about this weekend — with a shipping strike, fears of an all-out war in the Mideast and more revelations about vice presidential nominee Tim Walz. At least the shipping crisis is over.THE THREAT of an Israeli-Iranian war is still very real, as is a pervasive nervousness in the party that they picked the wrong VP nominee, the very poorly vetted Walz, who has committed a cardinal sin: he has distracted from the party’s message.

WE WERE STUNNED BY THE CHOICE OF WALZ, when there were two obvious alternatives: the very solid Pennsylvania Governor, Josh Shapiro, and the war hero/astronaut, Mark Kelly, Both are moderates with more name recognition than Walz.

NOW THE DEMOCRATS ARE ON EDGE, wondering if there are more revelations to come. He already has generated bad publicity over a drunk driving arrest, the falsification of his military record, and a false claim that he was in Tiananmen Square when riots broke out. He was not there then.

MOST POLITICIANS STRETCH THE TRUTH (it would take months to fact check Joe Biden and Donald Trump). What strikes us about Walz is how dismissive he is, simply acknowledging that he got his dates mixed up and glibly asserting that he was a “knucklehead” for getting his facts wrong.

WE TALKED WITH ONE DEMOCRAT yesterday who summarized the party’s anxiety: are there more revelations to come? That’s the rumor.

AFTER A SHAKY WEEK WITH WALZ, the Democrats caught a break last night: the shipping strike apparently is over, which is one less headache for the party. But that has not cured the Democrats of their greatest anxiety: an all-out war in the Mideast.

WE WOULD BE SURPRISED if the Israelis don’t aggressively hit Iranian energy and military facilities; even the country’s nuclear facilities may be in play. That’s the most serious part of this narrative — more serious than a vice presidential candidate who has a tenuous relationship with the truth.


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.

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©2025 AGF Management Limited. All rights reserved.

Written by

Greg Valliere

Greg Valliere

Chief U.S. Policy Strategist

AGF Investments

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