The Ongoing Tragedy
Author: Greg Valliere
May 25, 2022
NO HORROR — not killings at elementary schools, in synagogues, at night clubs — has been sufficient to prompt Congress to move. Joe Biden, who for years has failed to win any kind of gun curbs, conceded last night that legislation is unlikely because of the Senate’s filibuster.
THE KILLINGS AT SANDY HOOK AND OTHER SCHOOLS have produced outraged pledges to toughen laws, but the latest shootings in Buffalo and Texas won’t change any laws. Could these horrors affect the November election outlook? Perhaps it will fuel high turnout, just as striking down Roe v. Wade also may motivate the Democrats’ base.
THERE WILL BE MORE SHOOTINGS, prompting cynical assurances that the country’s “thoughts and prayers” are with the families of victims. But there won’t be any new laws. Modest background checks — supported by nearly 90% of Americans, and virtually everyone in the law enforcement community — might make a difference, but there simply aren’t enough votes in the Senate to act.
DONALD TRUMP, TED CRUZ AND OTHER PRO-GUN politicians will be speaking on Friday at a National Rifle Association conference (the NRA is becoming more aggressive because of a threat to its dominance from the far right). The talking points on Friday will be familiar — Democrats are exploiting the issue of taking guns away from law-abiding citizens. Each side is talking past each other, as more gun violence looms this summer.
THIS ISSUE ISN’T JUST ABOUT MASS MURDERS — it’s greatly complicated by the surge of gun violence in major American cities. Most northern states and cities have tough anti-gun laws on the books, yet gun violence is out of control.
THE LEVEL OF ANGER ON CAPITOL HILL over these latest shootings is palpable, but that won’t be enough. New players will have to step forward, such as Golden State Warriors coach Steve Kerr, whose father was shot to death in 1984 in Beirut. “When are we going to do something?” Kerr asked yesterday.
FAILURE TO PASS EVEN MODEST REFORMS could become the biggest political wild card of the year. Is there even one politician who can successfully take on this issue? Eric Adams, the ex-cop who is Mayor of New York, may sense an opening.
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.
©2022 AGF Management Limited. All rights reserved.