A Baker’s Dozen of Truly Bad Ideas and Dumb Statements

AFTER BREATHING A SIGH OF RELIEF over the verdicts in Minneapolis, we turn to a curious phenomenon — the proliferation of really bad ideas and dumb statements, here and abroad. Here are 13 examples:

1. Halting Covid vaccinations — and scaring the public — because a tiny, tiny number of people reported side effects.

2. The European soccer “Super League,” a mind-numbingly arrogant idea that died within days.

3. The nationwide legalization of marijuana, which has no chance in the Senate, where many members are questioning whether legal drugs are what the country needs.

4. Pulling out of Afghanistan, where the Taliban will violently rule within a year; why not leave some U.S. special forces?

5. Packing the Supreme Court, which would backfire amid overwhelming public disapproval (see: FDR in 1937).

6. Making DC and Puerto Rico states — no chance because the Senate would filibuster. Speaking of the filibuster, no chance of killing it because — of course — the idea would get filibustered.

7. Breaking up Big Tech, the most successful industry in American history.

8. Financial reparations for slavery — doesn’t have the votes. Neither does defunding the police. Republicans eyeing the 2022 elections are licking their chops.

9. A wealth tax. Elizabeth Warren is determined — she won’t let it go — even though it has no chance and would lead to massive tax avoidance.

10. Donald Trump insisting he won the election; that’s getting stale and more Republicans by the day are moving on.

11. The Federal Reserve openly rooting for higher inflation — be careful what you wish for.

12. Joe Biden picking a fight with his own party — and losing — on immigration caps after getting caught off guard, incredibly, by a surge at the border.

13. Nancy Pelosi thanking George Floyd yesterday for sacrificing his life.

Related: Why Have Bond Yields Slipped?

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), 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.