THE COUNTRY WAS HORRIFIED by the California fires this weekend, which will leave an imprint for decades. But we were struck this morning by how much breaking news has been crowded out. Some examples:
AN EPIC BRAWL MAY BE BREWING between Donald Trump and the Federal Reserve. Trump was counting on rate cuts this year; but that may be delayed until the second half — and Trump will howl.
GREENLAND LIKES TRUMP? A new poll of Greenland voters shows that 57% favor their country becoming part of the U.S.A. takeover of the Panama Canal won’t happen and the idea of making Canada the 51st state is ludicrous — but a security arrangement with Greenland cannot be ruled out.
CONFIRMATION HEARINGS will begin tomorrow with only one truly vulnerable nominee and a couple more who aren’t shoo-ins. The one nominee who has unified the foreign policy establishment against her is Tulsi Gabbard, on thin ice to become Director of National Intelligence.
THE OTHER SHAKY candidates are Robert F. Kennedy Jr., who has some support from maverick Democrats, and Pete Hegseth, who still faces a grilling in his hearing to become Defense Secretary.
BARRING SOME NEW REVELATIONS, it therefore appears that Donald Trump could win all of his nominees or perhaps lose just one. The process will take a few weeks.
STEVE BANNON really, really doesn’t like Elon Musk. The hard-right Bannon said this weekend that he will “take down” the “truly evil” Musk. Bannon vowed: “I will have Musk run out of town by Inauguration Day,” which is next Monday.
CHINA REPORTED THIS WEEKEND THAT IT ENJOYED AN ASTONISHING trade surplus last year — just under $1 trillion. This will energize China’s many opponents and goad Trump into imposing huge new tariffs.
A CEASE-FIRE looks increasingly likely between Israel, Hamas and the U.S. that would release U.S. hostages within days — before Trump enters the fray.
TRUMP HAS SENT SIGNALS to congressional Republicans that he would accept a deal in which the SALT tax break would be reinstated. This is a huge issue for members of Congress from wealthy states where voters want a tax break for their mortgage payments. How much will this cost? No one seems to care.
CALIFORNIA VOTERS, reeling, are openly discussing a recall petition against Los Angeles Mayor Karen Bass. Gavin Newsom, who already has survived one recall petition, may face another one later this year.
AND YES, HUNDREDS OF FOREIGNERS are streaming into California. They are firefighters, mostly from Canada and Mexico, and we are grateful.
Related: The 2025 Theme: Confusion
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.