GOP Mega-Donor: Trump Would Cause ‘Global Depression’
A GOP mega-donor said on Wednesday that a Donald Trump presidency would lead to a “global depression.”
The Hill reports:
“The most impactful of the economic policies that I recall him coming out for are these anti-trade policies,” hedge fund executive Paul Singer said Wednesday, according to CNBC.
“And I think if he actually stuck to those policies and got elected president, it’s close to a guarantee of a global depression, widespread global depression,” he added at the Aspen Ideas Festival in Colorado.
Singer said he might not vote for Trump or Democrat Hillary Clinton in the presidential election, according to CNBC, and is considering writing in his own name.
Singer is head of the $27 billion Elliott Management fund.
He made the comments a day after Trump said he plans to renegotiate the North American Free Trade Agreement (NAFTA) between the U.S., Canada and Mexico. Trump warned that he would leave the trade pact if other nations refuse.
“I’m going to tell our NAFTA partners that I intend to immediately renegotiate the terms of that agreement to get a better deal for our workers,” he said during a rally at an aluminum facility in Monessen, Pa. “And I don’t just mean a little bit better, I mean a lot better.
“If they do not agree to a renegotiation, then I will submit notice under Article 2205 of the NAFTA agreement that America intends to withdraw from the deal,” the presumptive GOP nominee added.
CNBC said Singer in April gave $1 million to Our Principles PAC, which is one of the most prolific anti-Trump super-PACs.
Singer supported Marco Rubio in the GOP presidential primary before the Florida senator suspended his campaign in March.
Singer, an investor based in New York City, has reportedly donated at least $28 million to national Republicans since 2012.
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