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.
Cembalest suggests that Biden’s health may be a factor in his low approval rating, and that he may withdraw from the race sometime between Super Tuesday and the November election.
Cembalest’s prediction is based on the process of candidate replacement during the primary season or before/after the general election, which he details in his report. He suggests that the Democratic National Committee may name a replacement candidate if Biden drops out of the race.
In 2021, former White House physician for Presidents Barack Obama and Donald Trump, and current Texas Representative Ronnie Jackson posted an honest assessment of Joe Biden’s physical and mental condition on Twitter.
Rep. Ronnie Jackson: “I served as White House physician under THREE Presidents. I’ve seen what it takes physically AND mentally to do the job. I can tell you right now that the way Biden is hiding from the public is a MAJOR red flag. Something’s not right!”
Back in July, The Gateway Pundit also predicted that Joe Biden would step down from office after a sudden medical emergency before weak and feckless Republicans muster up the nerve to impeach him.
Democrats and their lapdog media will then insist the Biden Crime Story is “yesterday’s news” and “has already been prosecuted.” The American public will be lectured on what a great leader Joe Biden was and how he should be forever honored in our memories and the history books.
Republican leadership and Uniparty members will breathe a sigh of relief that they will not be forced to go through impeachment proceedings. They will tell us, “This is not who we are.”
Just watch. You know this is true.