Kevin O’Leary, the “Shark Tank” star, recently shared his thoughts on the economy and politics as markets took a sharp downturn.
His comments came as major stock indices saw their biggest drops since last fall.
O’Leary is worried about how Democrats might handle a possible economic slump.
He said that while most experts don’t see a recession as likely right now, new policies could make investors nervous.
“After August 7, when the happy days are over, then there’s risk,” O’Leary said on the “Evening Edit.”
He thinks Vice President Kamala Harris needs to move more to the middle politically.
The stock market’s recent performance has been rough.
In just one day, the Dow Jones fell by more than 1,000 points.
Justin Trudeau is the modern day equivalent of what we’re seeing with Kamala Harris. He has taken Canada to its knees. It has fallen on every measure because turns out he has NO executional skills. So the question is, will America elect its own version of Trudeau? pic.twitter.com/vEJFN7jXgq
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) August 5, 2024
Other major indices also took big hits.
This sell-off happened because of weak job numbers and slower factory output in the U.S.
O’Leary mentioned he’s been talking to advisers from both parties to learn about their economic plans.
He noted that Harris’s team seems focused on raising money and picking a running mate, rather than talking to the press.
He compared the situation to Canadian politics, warning about leaders who don’t explain their plans clearly.
O’Leary pointed to Justin Trudeau’s campaign as an example, saying it led to problems for Canada.
Historic: Kamala Harris Becomes First Black Woman To Destroy World Economy https://t.co/eVihd0cKXr pic.twitter.com/HCLYG4Fzfc
— The Babylon Bee (@TheBabylonBee) August 5, 2024
“They got decimated. Turns out he had no executional skills,” O’Leary said about Trudeau. He then questioned whether Harris could effectively put policies into action.
O’Leary thinks Harris has two big tasks: to adopt more middle-of-the-road policies and to convince voters in key states that she can do the job well. He stressed how important these factors are for both investors and regular people.
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“Because if you don’t know what you’re doing, because you’ve never executed anything and you don’t know how to do it, like the Trudeau story, you decimate your country,” O’Leary cautioned.