After Italy’s prime minister ordered a 6pm curfew for bars and restaurants — along with the complete closure of gyms, theaters and more — Italians across the country are not going back quietly to COVID restrictions…
Is Italy the first domino, tipping Europe into social upheaval? And closer to home — with Election Day looming — do you think the U.S. will follow suit if states require that Americans return to quarantine?
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Wednesday, Oct. 28, 2020…
Diving into the Data…
We thought it would be a worthwhile exercise — ahead of Nov. 3 — to assess the data about unseated incumbent presidents.
First, this has happened just three times in the past 100 years. The three presidents?
- Herbert Hoover (1932)
- Jimmy Carter (1980)
- George H.W. Bush (1992)
Note all three presidents were plagued by crises that overshadowed the months before Americans cast their votes — crises that were first and foremost related to the economy. (In President Carter’s case, he was also grappling with the prolonged Iran hostage crisis.)
So what was the undoing of these presidents? As for Hoover and Bush, they both appeared out of touch with the real economy.
In the midst of the Great Depression, for example, Hoover famously said: “the fundamental business of the country is on a sound and prosperous basis.” Everyday Americans disagreed.
And president Bush made a bad impression in 1992 when he glanced at his watch during a televised town-hall debate… this as Main Street was feeling the effects of a recession.
While parallels can be drawn between these three presidencies and the zeitgeist in 2020, here’s something interesting…
Presidents Hoover and Carter not only handed a victory to the opposition, but the succeeding presidents — FDR and Reagan — signalled a sea change in American politics that lasted for decades.
So considering an economy that’s been colossally fouled up by the pandemic, will Trump become the fourth single-term president in the last century?
If history’s any indication, yes.
On Friday, we’ll investigate the economic consequences after these three incumbents were unseated.
Market Rundown for Wednesday, Oct. 28, 2020
S&P 500 futures are down 66 points to 3,316.
Oil is down 4.6% to $37.74 for a barrel of WTI.
Gold’s lost 1.6% to $1,882.10 per ounce.
Bitcoin’s dropped 3.3% to $13,317.25.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Hang in there… We’ll be back Friday.
For the Rundown,