Joe Biden May Not Run Again; DeSantis Stumbles
Author: Greg Valliere
September 19, 2022
“My intention, as I said to begin with, is that I would run again. But it’s just an intention,” the president continued. “But is it a firm decision that I run again? That remains to be seen.”
BIDEN WILL TURN 80 on Nov. 20, just a couple of weeks after the congressional elections. If he loses the House — which is still likely despite a brighter outlook in the Senate — Republicans plan to spend much of 2023 investigating Biden and business dealings by his son Hunter. Biden’s agenda would be effectively finished if Kevin McCarthy becomes House Speaker.
AS WE HAVE REPORTED, most politicians in this town believe — in private — that Biden will not run again, despite some improvement in his dismal job approval ratings. About a quarter of Democrats are now saying in public that they want someone new.
THIS HAS PROMPTED SPECULATION ABOUT WHO MAY RUN: Gavin Newsom, the charismatic governor of crime-plagued California, is at the top of the list; he would have plenty of money from Silicon Valley. After Newsom, it’s a thin bench: Bernie Sanders, who just turned 81, Michigan Gov. Gretchen Whitmer, who’s itching to run, and Vice President Kamala Harris, who has been a disappointment.
WE REITERATE: If the Democrats lose one or both of the two houses, Biden is likely to announce by year-end that he’s not running. The same applies to House Speaker Nancy Pelosi.
* * * * *
RON DeSANTIS STUMBLES: A lengthy profile in yesterday’s New York Times magazine left little doubt that Ron DeSantis is planning to run for president, and he may not be prepared to wait until 2028 — which probably would require him to take on Donald Trump in an explosive challenge beginning next year.
DeSANTIS FIRST HAS TO WIN re-election this November in Florida, where he’s favored. But Hispanics in the state are furious at his shipment of mostly Venezuelan immigrants to Martha’s Vineyard. It’s a campaign stunt that has backfired; Venezuelans are fleeing a repressive dictatorship, and are being used as pawns.
DeSANTIS HAS TREMENDOUS SUPPORT in the Republican base, which loves his willingness to take on elites. But party insiders note that he’s relatively inexperienced and has a very small group of advisers. Will he apologize to the Venezuelans? How DeSantis handles this episode will be telling.
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.
©2025 AGF Management Limited. All rights reserved.
