If political expertise were a stock market, Joe Biden’s shares would be trading at an all-time low.
Washington, like Wall Street, can be subject to wild balance sheets. The president’s fortunes prospered two months ago and then began to plummet, which financial analysts would call a correction.
There is now a Biden Bear Market.
But for those who are not caught up in the frenzy of the moment, things are seldom as wonderful or horrible as they seem. Biden’s White House has never been as successful as its major proponents claimed, and the political obituaries of its big detractors may be a little premature. People have short memories and politics, like day trading, can be a talk.
This is not to deny the damage recently suffered by a 78-year-old president. Trust and credibility can be hard to regain once lost.
Biden-bashing is hardly limited to the right. Late last month, when the administration made a desperate and chaotic effort to evacuate Americans from Afghanistan, the mainstream media outlets unleashed a barrage of sustained criticism.
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“President Biden is embroiled in the most devastating month of his term: struggling to contain a deadly crisis in Afghanistan, an inflexible pandemic and other setbacks that have sparked waves of anger and concern across his party as their surveys “. said the Washington Post.
The mainstream media seems to be moving from the chaotic withdrawal of President Biden from Afghanistan. (Getty Images)
(Photo by Mark Makela / Getty Images | Photo by SHAKIB RAHMANI / AFP via Getty Images)
“With President Biden facing a political crisis that has shaken his position in his party, Democrats across the country are increasingly concerned about his ability to maintain power in Washington as his administration struggles to defend the its chaotic withdrawal from Afghanistan and maintaining a resurgent pandemic that appeared to be waning just a few weeks ago, ”the New York Times said.
And things have only gotten worse with the coronavirus, with Biden tacitly admitting the failure of his persuasion strategy when it comes to imposing vaccination warrants.
Biden’s unobtrusive style — explicitly marketed as an alternative to Trump’s frantic years — is soothing when you see things going well. But when the news cycle overwhelms him, a president who grants few interviews and limits press questions may appear relegated to the sidelines.
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On Saturday, Biden went to the 9/11 anniversary ceremonies in New York, Washington and Shanksville, Pennsylvania, but gave no speech. On one level, that modesty is admirable, but it’s also tantamount to ceding the megaphone that George Bush literally took to Ground Zero.
What is most significant right now is to see some on the right accept Biden as a reasonable alternative or support him directly, because of his dislike of Donald Trump, gradually.
Now, part of that may be a bitter disappointment for the man they considered a plausible alternative and, in part, an attempt to regain some conservative after flirting with a Liberal Democrat. But they cannot be accused of being reflexively hostile.
“Biden was always fundamentally a default president, elected in opposition to Donald Trump and initially favored by contrast to his strange predecessor,” says Rich Lowry, editor of the national magazine.
But after losing Trump as an “aluminum foil,” Lowry says, Biden missed the exit from Afghanistan and didn’t seem to control it.
“In private, Democrats need to know that their actions at their press conferences were not reassuring, much less commanding. The problem Biden has is that any act of incompetence will raise, fairly or not. , questions about his age, even though he would have done exactly the same thing at 38 as he has now at 78.
“This is not a position of strength to deal with another structural problem that was overwhelmed by its initial success in getting new COVID-19 spending and by the eager press coverage, narrow margins uncomfortable in Congress.”
And that is undeniable. With Joe Manchin able to block anything too costly or liberal in the Senate, and the AOC wing capable of sinking anything too moderate, the clock is ticking on Biden’s national agenda before the likely loss of the House l next year.
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Bret Stephens, the New York Times Conservative who voted for Biden, calls him “a diminished president … Joe Biden was supposed to be the man of the hour: a reassuring presence that responded decently, As a candidate, he sold himself as transitional president, a father figure in the mold of George HW Bush who would restore dignity and prudence to the Oval Office after the mendacity and chaos that occurred before “.
Now, says Stephens, Biden “has become the emblem of the hour: hooded but unstable, ambitious but inept. He seems to be the last person in America to realize that, regardless of the theoretical merits of the decision withdrawing our remaining troops from Afghanistan, the military and intelligence assumptions on which it was built were deeply flawed, the way it was executed was a national humiliation and a moral betrayal and the timing was catastrophic. “
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His takeaway: Biden is “proud, inflexible and thinks he’s a lot smarter than he really is.”
Naturally, if the virus fades and the economy grows next year, we could opt for a Biden Bull market. This is especially true if you can cope with some of your spending expenses that help a lot of people. But so far, his actions have been very successful.