June 28, 2024 at 04:23PM
The US political landscape could look far different when markets re-open on Monday.
There are all kinds of rumors and reporting after Biden’s disastrous debate performance. The main ones indicate that Biden and his team plan to continue but I don’t really see those as insightful — people always want to continue.
The question is whether there are enough concerned senior Democratic officials and donors who can convince him to drop out.
One report that caught my attention is from Doug Kass, who is a money manager not a reporter but it has a ring of truth.
What I am hearing regarding Joe Biden. Ron Klain and Barack Obama are having a sit down with the President today. Jill Biden is insistent that Joe runs. Kamala is furious that she is not being considered as a replacement (Whitmer and Newsom are). Interestingly my neighbor in East Hampton is hosting the Bidens tomorrow. It will be an important tell if the fundraiser is cancelled
Ron Klain was Biden’s former chief of staff.
I think that if you read between the lines on a comment like this from Nancy Pelosi, it’s certainly concerning.
“The President of the United States has been a great president. He got off to a bad start. I thought he came through okay.”
That’s hardly a ringing endorsement.
The thing is: If he drops out, what happens next? Eyes would be on Gavin Newsom and Gretchen Whitmer but can you just drop a candidate in without anyone voting? That’s certainly problematic.
This article was written by Adam Button at www.forexlive.com.
