A call from 'family cellphone plan' needed for Biden to bow out

Last night's presidential debate between President Joe Biden and former President Donald Trump has sparked discussions about Biden's performance, which many deemed underwhelming. Clayton Allen, Eurasia Group Director for the United States, joins Catalysts to analyze the debate's aftermath.

Allen acknowledges Biden's struggle during the debate, noting that expectations were higher for the incumbent. While Trump had his own missteps, Allen suggests these are less significant to the overall narrative. The key takeaway, according to Allen, is that "Biden looks old, and he looks weaker than he did going in."

Addressing speculation about Biden being replaced as the Democratic candidate, Allen says: "The democratic establishment is the wrong place to look. It's the Biden family cellphone plan. Somebody on that cellphone plan is the only individual capable of convincing President Biden to step aside. If anyone else could've done it, they probably would've already tried."

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Angel Smith

Transcription de la vidéo

The first presidential debate capturing America's attention after President Biden and former President Trump went back and forth on key issues including the economy, taxes and foreign policy.

We got to take a look at what I was left when I became president and what Mr Trump left me, the economy collapsed.

There were no jobs.

The tax cuts spurred the greatest economy that we've ever seen just prior to COVID.

And even after COVID, the fact is that the vast majority of constitutional scholars supported Roe when it was decided, the idea that states are able to do, this is a little like saying we're gonna turn civil rights back to the states as far as Russia and Ukraine.

If we had a real president, the president that knew that was respected by Putin, he would have never, he would have never invaded Ukraine.

The only person on this stage is a convicted felon is the man I'm looking at right now.

He did beat Medicare, he beat it to death and he's destroying Medicare because all of these people are coming in.

They're putting him on Medicare, they're putting him on social security, they're gonna destroy social security for more.

We want to bring in Clayton Allen.

He's your Asia group's us, Director Cle, and it's great to have you here.

So let's take a step back because here we are this morning, we're about 40 minutes into the trading day.

And I think investors at this point are trying to gauge whether or not we actually could see a new candidate put forward from the Democratic Party.

I'm curious, your reaction to what we heard last night and what that tells us just about some of the uncertainty that lies ahead.

Certainly.

And thank you for having me on.

I think the one major takeaway last night is that Biden had a bad night.

The bar for him doing well was higher than Trump.

Trump had to avoid appearing sort of dis disorganized or aggressive.

And he largely did that for about 80 minutes of the 90 minute debate.

Trump kept his aggression in check.

He avoided major blunders.

Now he fabricated and in some cases, completely exaggerated any number of, you know, actual verifiable facts, but that doesn't matter much for the narrative.

Uh The takeaway from last night is that Biden looks old and he looks weaker than he did going in.

So certainly, that's stirring speculation that he could, there could be a push to replace him.

Well, let's talk about that push our very own Rick Newman who covers politics for us said something that I thought was so powerful earlier that Jill Biden is the most important person in America right now because she could drive that decision.

What do you think about that?

And what do you think the Democratic Party can do moving forward if the decision for the Biden camp is to stay in this election?

Absolutely.

That's spot on.

There's a lot of speculation this morning about who in the democratic establishment could lean in and push Biden to step aside from the ticket.

The democratic establishment is the wrong place to look.

It's the Biden family cell phone plan.

Somebody on that cell phone plan is the only individual capable of convincing President Biden to step aside.

If anyone else could have done it, they probably would have already tried.

Uh Right now, this is going to be a decision that only Joe and Joe Biden have control over the signaling out of the White House this morning is that the president's in this, he's remaining in the race, he's going to win.

Of course, that's the narrative you have to put out as a White House.

You can't say anything else the morning after the debate, this is going to add to some of the volatility that we could see in the markets.

It could, I don't know that that's necessarily what I would expect.

I think that the basic fact, the functional reality that we live in right now is that while there is a lot of media speculation about replacing President Biden at the top of the ticket to actually do that faces some major hurdles.

First of all, there's not a clear replace at hand.

Kamala Harris has the strongest case for it, but she's perceived as a weak candidate by a lot of people in the Democratic Party.

There's also the question of primaries, the person at this, any replacement would be an appointed rather than an elected candidate.

And that turns off in big parts of the Democratic coalition, they're upset that their person wasn't called up to be up to be the relief pitcher.

Um, in any case, you don't have a clear replacement, you don't have a clear process to do that.

I think that if anything, we get a lot of speculation about a replacement, but it doesn't necessarily add to volatility about policy shifts or other changes shifting from a Biden to potentially a Trump administration.