Trump Polls Are in Free-Fall; Twitter is His Next Target
Author: Greg Valliere
May 28, 2020
NOTHING MOVES THIS TOWN like a shocking new poll, so there was a whiff of panic yesterday from Republicans after release of President Trump’s latest approval numbers. The conservative Rasmussen poll showed Trump’s job approval at 42%, with 57% disapproval.
THE 15-POINT GAP was the worst rating from Rasmussen — Trump’s once-favorite
polltaker — in his presidency. It confirms that if the election were held today Trump would lose, perhaps decisively.
TRUMP ISN’T REMOTELY CLOSE in states like Michigan, and his polling numbers among a crucial demographic — senior citizens — have plunged. Even Sean Hannity and Mitch McConnell are urging people to wear masks, but Trump refuses. Facing a potential election rout, Trump has responded as only he can.
WAR ON TWITTER: The company apparently has decided not to censor Trump’s tweets or kick him off its site, but Twitter has begun to fact-check him. This has infuriated the president, who reportedly will issue a directive today that could begin a process to re-write a key provision in the Communications Decency Act of 1996, which until now has protected social media firms from litigation.
IT’S UNCLEAR WHETHER TRUMP has the authority to change the provision, but sources believe he will put enormous pressure on the Federal Communications Commission to end any legal protection for Twitter and other social media companies.
THE INDUSTRY — ESPECIALLY FACEBOOK — HAS VOCAL CRITICS on both the left and right — so at the least there’s headline risk brewing, along with protracted litigation. For Trump, there’s an opportunity to target the fact-checkers personally, while giving him another grievance, as he makes a case that the election will be rigged against him.
TWITTER RECENTLY DELETED A TWEET from Brazilian President Jair Balsonaro, and it has attached two fact-checking notices to Trump tweets; the pandemic has emboldened Twitter to call out tweets that are inaccurate or incendiary. The firm has not deleted Trump’s baseless tweets against former Rep. Joe Scarborough, but that fight appears to be imminent.
IN PAST DISPUTES LIKE THIS, Trump could count on support from his GOP
troops on Capitol Hill. But a 42% job approval rating changes everything. Members of his own party have begun to worry more about their own election prospects than
his; the third-ranking Republican in the House, conservative Rep. Lynne Cheney, has urged Trump to cease his vile accusations against Scarborough, to no avail.
MEANWHILE, AS A FIERCE BATTLE between Trump and social media erupts, the country has recorded its 100,000th death from Covid-19 with few signs of empathy from a president whose poll ratings are suddenly in free-fall.
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.
