Paul Singer: "Donald Trump Will Cause A Widespread Global Depression"
By Tyler Durden
In addition to the recently quite vocal George Soros and Stanley Druckenmiller, one republican hedge fund billionaire who has been warning for years about not only the looming trouble for the market but also a calamitous collapse of the establishment, is Elliott’s Paul Singer, who has been advocating gold as insurance against just this inevitable systemic collapse. Singer has also been an outspoken opponent of Trump, having supported Florida Sen. Marco Rubio in what was once a 17-person race for the GOP nomination. Singer most recently gave $1 million in April to the Our Principles PAC, which was part of the campaign to stop Trump.
However it was not unti today, one day after Trump revealed the full extent of his trade program, that Singer lashed out and revealed the full extent of his loathing for Trump.
During a discussion at the Aspen Ideas Festival in Colorado, Singer told CNBC that “the most impactful of the economic policies that I recall him coming out for are these anti-trade policies,” Singer said “And I think if he actually stuck to those policies and gets elected president, it’s close to a guarantee of a global depression, widespread global depression.“
Does that make him a Hillary supporter? No. When asked who he would pick between Hillary and Donald, Paul’s response: “none of the above.”
Billionaire Paul Singer: If Trump elected, a “global depression” is “close to a guarantee” https://t.co/OYXmND9wOR pic.twitter.com/PqPbI93sDU
— CNBC Now (@CNBCnow) June 29, 2016
Stepping away from politics, Singer also shared his view on Brexit, which differed from most of his peers, and said the UK’s decision was good for Britain because the “EU is a failed experiment.”
Singer: long term, “Brexit” good for Britain, EU is a failed experiment.
— Kelly Evans (@Kelly_Evans) June 29, 2016
Perhaps the question these days, with both neo-Keynesian economics and monetarism failing abjectly, is what isn’t?
Source: Paul Singer: "Donald Trump Will Cause A Widespread Global Depression"
