GOP mega-donor: Trump would cause ‘global depression’
Paul Singer believes Trump’s economic policies would likely lead to global 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.