Investors are raising red flags about the U.S. economy in the aftermath of former President Donald Trump’s historic conviction, according to a new report out from Fox News.
During a recent appearance on “Fox & Friends Weekend,” Kevin O’Leary, Shark Tank investor and Chair of O’Leary Ventures, shared his thoughts on how Trump’s trial could affect the nation’s economic future.
“Regardless of your political views, it’s important to consider the bigger picture and what America represents globally,” O’Leary said. He pointed out that the U.S. is the world’s largest economy and boasts a strong legal system, including the appellate process that Trump will now face.
Trump, responding to rumors of the Republican Party trying to replace him, warned viewers about the “bad people” coming after him. “These people are sick, and they do things that are incredibly destructive,” he said, suggesting that his supporters believe he’s the only candidate who can withstand such challenges.
Investors are worried about the unpredictable and potentially harmful effects of Trump’s guilty verdict on the U.S. economy.
NEW: Shark Tank's Kevin O'Leary declares the U.S. has sunk to the level of a banana republic, warns of a financial "exodus."
The comments by O'Leary were made in a piece with the Daily Mail. Here is what he said:
1. "The American brand has been dragged through the mud, sunk to… pic.twitter.com/LGEnX5gtSj
— Collin Rugg (@CollinRugg) June 1, 2024
O’Leary warned that “belittling” a former president could have serious consequences for the “American brand.”
He asked viewers to think about the long-term impact, saying, “Do we really want to humiliate someone who held the highest office in the land?”
Looking to the future, O’Leary predicted that people will look back and question how Trump managed to win the presidency again.
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He identified Manhattan District Attorney Alvin Bragg as the unexpected driving force behind Trump’s comeback, calling him the “kingmaker” for Trump’s success. “Alvin Bragg made it happen for him,” O’Leary said, recognizing the irony of the situation.
