In an unsurprising forecast from one of Wall Street’s leading financial institutions, a top strategist at JPMorgan has predicted that Joe Biden may withdraw from the upcoming presidential race, citing concerns over his health.
The strategist, Michael Cembalest, Chairman of Market and Investment Strategy for J.P. Morgan Asset Management, made the prediction in his annual outlook report, which covers a wide range of topics including the state of the US economy, market trends, and global risks.
Among the surprises, Cembalest predicts the following “top ten surprises for 2024:”
- The US dollar remains stable
- The DoJ/FTC win a big antitrust case.
- President Biden withdraws sometime between Super Tuesday and the November election, citing health reasons. Biden passes the torch to a replacement candidate named by the Democratic National Committee.
- The driverless car backlash is coming.
- Broadly syndicated loan (BSL) losses rise above private credit losses for the first time.
- Argentine dollarization will fail if implemented.
- Russian invasion of Ukraine drags on with no ceasefire in 2024.
- Despite storm clouds over US regional banks, their stocks will do well in 2024 with stable or rising price to book values.
- Due to retirement of dispatchable power generation (nuclear, coal, gas) and underinvestment in pipelines, gas storage and winterization, major US cities will face electricity outages and/or natural gas outages (which are much worse).
- Researchers will complete work on an inhaled COVID vaccine that will sharply reduce transmission.
According to Cembalest, Biden’s low approval rating for a President with ~10% job creation since his inauguration is a by-product of his inauguration coinciding with the rollout of COVID-19 vaccines and a reopening US economy.
Maybe he DIES of Dementia lets HOPE !!!!!!
As long as he goes, who cares why? As long as Moiooschelle isn’t his replacement! I’d just as soon have Obiden as that racist cow.
Biden is staying in to the last possible moment to keep the Dems from having a primary- if he drops out after the convention- they will just pick their already pre-appontied person.
Drop down the steps again of Air Force One !!!
Hillarious !!!!!! Why don’t they use an ESCULATOR instead !!!! ??? DUGH
The DEVIL is their Pre-appointed !!!!!