A Donald Trump presidency would be disastrous for the United States; a Hillary Clinton presidency wouldn’t fare any better. This is the analysis from one contrarian, who thinks the only difference between Trump and Clinton is the length of time before a financial crisis takes place.
Jim Rogers, the legendary billionaire investor, told ETMarkets.com that he thinks a Trump presidency would send the U.S. into bankruptcy and would unleash global trade wars. Meanwhile, Clinton’s economic decline would unfold at a slower pace.
Right now, Rogers is betting on a Trump upset and is shorting the stock market.
Although he believes that the US dollar would strengthen in the short term because Trump wants a trade war, he thinks it will ultimately cause the U.S. to go bankrupt. At the same time, oil would not go down, but stocks and gold would.
Of course, Rogers isn’t the only one frightened of either prospects.
David Stockman, the former Reagan economic adviser and budget director, thinks investors should sell before or after the election, regardless of who wins on Election Day.
“If you don’t sell before the election, certainly do it afterwards. Government is going to be totally paralyzed regardless of who wins,” he said. “There could be a 25 percent draw down on markets.”
There you have it, whoever wins, Americans are doomed. Doomed!
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