A billionaire hedge fund manager known for contributing huge sums to Republican candidates cautioned Wednesday that Donald Trump’s economic policies effectively guaranteed a depression.
“The most impactful of the economic policies that I recall him coming out for are these anti-trade policies,” Paul Singer said during a panel discussion at the Aspen Ideas Festival in Colorado, according to CNBC. “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.”
Singer is the founder of Elliott Management Corporation, a fund worth $27 billion that specializes in distressed debt acquisitions. A self-described libertarian, he donated $100,000 to the Republican Party in 2015, according to Forbes, and contributed to Sen. Marco Rubio’s (R-FL) failed bid for the presidency.
Singer’s remarks in Aspen came one day after Trump gave two speeches laying out his fervent opposition to international trade agreements and threatening to raise tariffs on the United States’ leading trading partners, including China and Mexico.
According to CNBC, Singer donated $1 million in April to the anti-Trump Our Principles PAC. He said at the conference that he may not vote for anyone in November.
Singer’s criticism of the presumptive GOP nominee shows how Trump has polarized traditional conservative donors.
Billionaire casino magnate Sheldon Adelson said he would support Trump as the Republican Party’s nominee, and The New York Times reported he may spend up to $100 million aiding Trump’s bid.
Industrialists Charles and David Koch will not donate to either Trump or the GOP convention and have instead signaled that they’ll funnel money towards down-ballot candidates.
Paul Singer is a financial predator and total ass (not to mention big part of rMoney’s financial empire). His concern is for his own bank account, but still appreciate the anti-Trump stance. Possible backer for “never-Trump” ®s? Look to influence at convention…
“Singer’s criticism of the presumptive GOP nominee shows how Trump has polarized traditional conservative donors.”
Right, into two sharply-divided camps: 1) Sheldon Adelson, and 2) Everybody else.
Trump: I want global depression. I will buy everything for few cents on the $$. I will be then a real Billionaire, may be a trillionaire.
I want to hang on that one fact for a minute—imagine there’s this fund out there whose only purpose is to mess up your world, and then imagine some guy donated a million bucks to it. A million dollars’ worth of fuck you. That’s deep.
What a complete scum sucking bottom feeder. NOW he ‘cares’…which is all a lie. When he thought he could lie and manipulate and enrich HIMSELF he was all in…when he thinks he can’t ‘control’ the message and the whole world will go into financial meltdown which will affect HIS bottom line he can’t scream loudly enough. Some people…