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America Has a New Political Star

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America Has a New Political Star

Author: Greg Valliere

November 8, 2023

WE HAVE ASSERTED FOR THE PAST YEAR that Kentucky Gov. Andy Beshear is the most intriguing new Democrat — bright, likable, young (45 years old) and most importantly, he’s a moderate who appeals to Republicans and centrists. Beshear won re-election yesterday in one of the most conservative states in the nation, home to Mitch McConnell and Rand Paul.

BESHEAR ALMOST CERTAINLY will run for president in 2028, although many Democrats would be thrilled if he made a late entry in the 2024 race. We think he will wait , , , probably.

LAST NIGHT’S ELECTION RESULTS had two other major take-aways: There was a stunning repudiation of Virginia Gov. Glenn Youngkin, who had considered jumping into the presidential race. Democrats not only maintained a narrow majority in Virginia’s state Senate but they also flipped the House of Delegates, delivering a major blow to Youngkin’s agenda. His presidential prospects have plunged.

THE BIG REASON for last night’s results was a public sense that the Republicans have become too radical on abortion restrictions. Proponents of abortion rights won fairly easily in Ohio, still another state to reject strict Republican restrictions on the procedure.

THERE ARE STILL SOME ISSUES where Republicans have political traction — urban crime, illegal immigration, food and gasoline inflation, etc. But the inevitable post-mortem between now and Thanksgiving will focus on the GOP’s inability to gauge public opinion on abortion. In state after state — even conservative states — there’s an uprising over strict abortion curbs.

BESHEAR’S VICTORY COMES AS MORE POLLS, including one by CNN, show Biden losing the general election to Donald Trump. Panicky Democrats in this city are asking whether they should send a delegation to the White House, respectfully asking Biden to drop out for the good of the party. It’s doubtful that Biden would agree — but Democrats now have the Beshear template that apparently works in states like Kentucky.

AND TO REITERATE: Beshear is 45 years old, Trump is 77 and Biden turns 81 later this month. The voters want change — and here comes a new star who deserves a second look in the next few weeks.

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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.

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©2023 AGF Management Limited. All rights reserved.

Written by

Greg Valliere

Greg Valliere

Chief U.S. Policy Strategist

AGF Investments

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