An Age-Old Issue — Old Age — Hits the Political World

by Greg Valliere, AGF Management Ltd.

OLD AGE, THE ELEPHANT IN THE ROOM: How ironic that high-energy Bernie Sanders, who raised $25 million in the third quarter, will now become the poster boy for a delicate issue — the age and health of the country’s top politicians.

THE INSERTION OF A STENT to widen a blocked artery isn’t a huge deal, but for a few hours yesterday news of Sanders’ procedure crowded out the rapidly intensifying impeachment probe. To be blunt, much of the buzzing focused on what would happen if Sanders dropped out (his polls have plunged in recent weeks, amid reports of disarray in his campaign).

ELIZABETH WARREN, ON A ROLL, would be the obvious beneficiary if Sanders dropped out after the March 3 Super Tuesday primaries. She and Sanders are friends and ideological soul-mates, and it’s logical to assume that he eventually may endorse her and release his delegates to her. This is one of many reasons why Warren is the early favorite to win the nomination.

IN THE MEANTIME, there will be a renewed focus on candidates’ age and health; all of them will be pressured to release their medical records.

RONALD REAGAN WAS CONSIDERED ELDERLY when he won the presidency, but he was only 69 when he was inaugurated, younger than many of today’s candidates. Yet Reagan appeared to show signs of early dementia late in his second term, and age has to be an issue for candidates as they approach 80.

SO THERE WILL BE A FOCUS on the portly Donald Trump, 73, who loves fried food and hates to exercise. Joe Biden, who will turn 77 later this fall, doesn’t appear to be quite as quick as he was a decade ago. But Warren, 70, and Sanders, 78, keep grueling campaign schedules.

AGE IS A DELICATE ISSUE IN CONGRESS: Nancy Pelosi is 79 and her two House lieutenants are Steny Hoyer, 80, and James Clyburn, 79. The Senate Majority Leader, Mitch McConnell, is 77. A key figure in an impeachment trial could be Sen. Charles Grassley, who is 86.

YOUNG VOTERS WANT SOMEONE they can relate to, which is why Pete Buttigieg, 37, and Andrew Yang, 44, have exceeded expectations. Politics isn’t always fair — Sanders and Biden will raise eyebrows if they have a bad cold this winter. Fairly or not, their age is an issue, and we have to wonder: could Trump’s health also become an issue in the 2020 campaign?

 

The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.
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), Highstreet Asset Management Inc. (Highstreet), AGF Investments America Inc. (AGFA), AGF Asset Management (Asia) Limited (AGF AM Asia) and AGF International Advisors Company Limited (AGFIA). AGFA is a registered advisor in the U.S. AGFI and Highstreet are registered as portfolio managers across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. AGF AM Asia is registered as a portfolio manager in Singapore. 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.
© 2019 AGF Management Limited. All rights reserved.

This post was first published at the AGF Perspectives Blog.

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