Chief U.S. policy strategist reassures investors that the perfect antidote is coming and page will be turned
The events in Washington D.C. have dismayed advocates of peaceful protest, democracy and decency from all political sides. The insurrection on the Capitol threatens to damage the U.S.’s standing at home and abroad, hammering an ugly wedge into the heart of a splintered union.
Or this might be peak division; the apex of hate that will now be allowed to subside, paving the way slowly for a better tomorrow. Greg Valliere, chief U.S. policy strategist at AGF Investments, subscribes to the latter view. He described Wednesday’s events as “appalling violence egged on by a delusional Donald Trump”. The outrage is justified, he said, but added that there is a contrarian scenario – that the fever has broken and things will get better.
Valliere expects an orderly transition of power on January 20 but doesn't believe Trump will be ousted before then. His legacy, however, will be forever tarnished along with the "sycophants" who aligned themselves with the New Yorker.
Valliere said: “For the next few days, there will be speculation about removing Trump, largely out of fear over what he may do — especially geopolitically — in his final two weeks. And there will be questions about why the Capitol Hill police were so pathetically caught off guard yesterday. But a change is coming …
“Joe Biden is the perfect antidote. There’s no politician in either party who has what Biden brings — he’s soft-spoken, patriotic and relatively moderate, with a refreshingly modest ego. Biden is far from perfect, but he’s the anti-Trump.”
Valliere predicts Congress will begin normal business by the end of the month, which will be music to investors’ ears. Given the acrimony he invited – and thrived upon – he added that the Republican Party won’t “touch that hot stove again” and that the hardcore Trump base will be seen as an albatross.
“Trump as nominee in 2024? Not after Wednesday,” he said, adding: “By spring the economy will be humming — thanks to another stimulus bill and continued Federal Reserve accommodation. Anyone who wants a vaccine will have one by summer and Trump will be preoccupied by a flood of legal challenges, mostly in the southern district of New York.
“Wednesday’s horrors won’t be easily forgotten, but time stops for no one — the country will heal and Congress will pivot toward the center. Donald Trump and his inner circle will be vilified forever but the page will turn, as it always does.”
