An Inevitable Focus on Kamala Harris
Author: Greg Valliere
July 21, 2022
JOE BIDEN HAS THE BEST DOCTORS in the world and the most effective medication possible, so he should bounce back from Covid. But he’s 79 years old and his infection shines a spotlight on his overall health — and on his vice president, Kamala Harris.
PEOPLE WE KNOW WHO HAVE CONTRACTED the BA.5 variant report that flu-like symptoms subside within 48 to 72 hours. But everyone we’ve talked with have had lingering fatigue and a general lack of energy for several weeks afterwards.
BIDEN HAS HAD TWO BRAIN ANEURSYMS, ONE REQUIRING MAJOR SURGERY, but his greatest risk factor is simply his age. His personal physician, Dr. Kevin O’Connor, has stated that the president is taking the anticoagulant Eliquis, the statin Crestor, the acid reflux drug Pepcid, as well as Allegra and Dymista for seasonal allergies.
WE THINK THERE ARE TWO MAJOR IMPLICATIONS:
First, if Biden comes back slowly from Covid, there will be a focus on his age and
energy, and still more speculation — mostly from the Democrats’ left wing — that the
party needs a different nominee in 2024. And there will be an intense focus on Harris, who has been a disappointment — within both parties, there’s a sense that she lacks the gravitas to assume the presidency.
Second, there will a renewed focus on this new Covid variant, and the need for booster shots by this fall. The BA.5 version is exceptionally contagious, and while it won’t kill as many people as the original Covid, it will prey on the unvaccinated and people with risk factors — such as old age.
BOTTOM LINE: We think Biden will bounce back within days, but how vigorous will he be this fall? His gait has appeared to be increasingly fragile, so his every public
appearance will be scrutinized carefully. And there may be a renewed focus on provisions that detail the transfer of presidential power to a vice president, not that we’re predicting that will happen.
WE WISH JOE BIDEN THE BEST, but we reiterate that he isn’t the party’s likely nominee in 2024; if he won a second term, he theoretically would leave the white House at the age of 86. The pressure is on for Harris to step up her game; if she doesn’t there could be a dozen or more Democratic contenders eager to jump in.
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. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
©2023 AGF Management Limited. All rights reserved.