Hedge Fund Titan Warns of Economic Trouble if Kamala Harris Wins Presidency
20.09.2024 11:00 1 min. read Alexander Stefanov
Hedge fund mogul John Paulson has raised alarms about Kamala Harris's potential impact on the U.S. economy if she wins the presidency in November.
Paulson, managing a $9 billion fund, has warned that he might withdraw his investments and shift to cash and gold due to concerns over Harris’s proposed economic policies.
He believes her plans, including a 25% tax on unrealized gains, could lead to market turmoil and a quick recession.
Paulson favors Donald Trump’s economic policies, arguing they better support the middle class and drive economic growth.
He highlights that wages increased under Trump, whereas under Biden, inflation has hurt real wages and exacerbated financial strain on average Americans.
Other notable figures, including Warren Buffett and Elon Musk, share concerns about a Harris presidency. Buffett has been liquidating stocks, while Musk predicts worsening economic conditions and greater government control.
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