Scott Bessent, founder and CEO of Key Square Capital Management LLC, said that if former President Donald Trump were to become president again, “we could end up with the opposite of chaos.” There is,” he said. Breitbart News Saturday.
Billionaire investor Bessent detailed an 18-page memo sent to investors on Wednesday, warning of a “Trump rally” in the stock market as Trump leads President Joe Biden in polls. points out that this is happening. Bessent explained that when it comes to the current state of the economy, there are two views: one from economists and one from the general public.
President Joe Biden speaks about his administration’s economic policies at the Prince George’s Community College Performing Arts Center on Thursday, Sept. 14, 2023, in Largo, Maryland (AP Photo/Alex Brandon). // Former US President Donald Trump looks on during a campaign rally at Trendsetter Engineering in Houston, Texas on November 2, 2023. (Brandon Bell/Getty Images)
“The other thing that’s happening is new york times, led by Paul Krugman. Another is former Fed Vice Chairman Alan Blinder. They keep telling the American people in their weekly columns, “You guys are stupid.” You don’t understand how good the economy is. You don’t appreciate what’s going on,” he said.
“I think there’s a concept of equality in economics where you spend money today, and the consumer, the voter, knows that it’s debt financing and that the bill is coming next month, next year, five years from now. ” , so you can save even more. So this whole narrative from progressive economists is, “You don’t value the economy.” Well, I don’t really appreciate the way they preach to people. I think this is like an anabolic steroid economy,” Bessent said.
“You look great on the outside, you’re muscular. But inside, you’re damaging your liver. Your reproductive function is compromised. It’s a short-term gain for a long-term gain.” You’re going to ruin it,” he explained.
“Americans say their food has increased by 25 percent since President Biden took office. That’s never going to go back. Even if it only goes up 2 to 3 percent a year, the rate of wage growth is about 13 percent, which means real wages relative to food costs are lower than 12 percent. You know, housing is out of the park. When I talk to millennials, they say they “I’m just disappointed that I’ll never be able to own the house that I gave away. Rents are going up. So the basic necessities that people want are going up the most,” he said, adding that Trump won the election. He commented that if he wins, he believes that a golden age will come again economically.
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“If we were sitting here four years ago, I think a lot of people would have forgotten about this because we’ve all been through so much trauma with the coronavirus,” he said. Before that, he explained: “President Trump will win in a landslide.”
“The economy has been great. Folks, real wages have gone up for every ethnic group, every income group. Things were going really well, and then the coronavirus hit and it really was the biggest economy we’ve ever seen. It was an unprecedented situation. Even the Spanish flu was unprecedented, and the Biden administration took office in January 2021 and the economy was restarting. “We were trying to turn it into a bigger spend,” he said.
“So now, if Trump comes back…we try to form an informed opinion, not a dissenting opinion, but…it’s when we disagree with that narrative that the big… We think we have a chance.”And the narrative that’s out there right now is that President Trump is going to have a second term, and it’s going to be chaos, and it’s going to be revenge,” he said, countering that narrative. He explained.
“I actually think he wants rejuvenation and redemption, and I think he wants to have a great four years in history like any other president. “I want to leave it there,” he said.
“So actually, I think if he comes in, we could potentially get the opposite of chaos.” [with a] Good team, learn a lot from the early days of the first administration, take a lot of these international issues off the table and really move forward. ” Bessent added.
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