The “Shark Tank” star Kevin O’Leary is speaking out this week to issue a chilling warning about the “real chaos” he is predicting for the U.S. economy before Christmas.
“Know your numbers,” says Shark Tank’s Kevin O’Leary. Numbers don’t lie. Tracking sales, analyzing financials, understanding market data – know the data to drive informed decisions and growth. pic.twitter.com/8vy7D8hUrp
— Matteen Terrany (@MatteenTerrany) August 23, 2023
O’Leary’s Grave Warning
Daily Mail reported that inflation is currently at 3.2 percent, with Fed chair Jay Powell warning last week that additional interest rate hikes to bring it down further have not been ruled out by the central bank. The interest rate currently sits at 5.5 percent.
O’Leary told Fox Business that he thinks September will be the beginning of “real chaos” for the American economy.
“This was inevitable. We talked about it six weeks ago, and now you’re just starting to see the chips start to fall. The layering is as follows: The regional [banks] don’t know yet what their capital requirements are going to be. So, their loan books have closed like a turtle in a shell,” explained O’Leary, 69. “This gets worse before it gets better. And what’s it doing to small business? Killing them right now.”
“What I anticipate is going to happen here, while we still have full employment which is remarkable, and you don’t put any capital into the small business sector, which is 60% of the jobs in America, you’re going to start to see some real chaos come September, October, November,” he continued. “This is an issue for Congress…It’s very simple.”
‘STRANGEST OF TIMES’: Kevin O’Leary says we’ve never seen anything like this before pic.twitter.com/ymLXnMLYnE
— tuan (@tuan09468158) August 26, 2023
O’Leary Attacks Feds
Not stopping there, O’Leary proceeded to attack the feds for how they have handled the situation so far.
“They gave all their money to S&P 500 in two acts, the Chips and Science Act and the other, Inflation Reduction Act,” he said. “Not a dime for small business. A trillion for the big boys, nothing for the small guys. And the small guys, they run America, so it has to be rebalanced somewhere.”
O’Leary then shifted to discussing China’s “dovish” economic policy, predicting that this could be “bad” for Big Tech stocks.
“Lots of people, including the Europeans, have started to look elsewhere,” he said. “And China’s starting to realize if we’ve got to stay north of 4%, we need to be a little nicer to everybody around the world. That’s my guess. They’re not going to be as hawkish. And I think you’ll see the tone die down on invading anywhere else in Asia.”
“It’s bad for tech,” O’Leary concluded. “If we keep squeezing out tech companies from selling to them, you’re going to see some correction in PE’s….This is now the time to force them to the table and squeeze their heads and show them the stick and get a level playing field. I’d love to see that.”
Check out O’Leary’s full comments on this in the video below.
O’Leary Rips Bideneconomics
Insider reported that earlier this year, O’Leary exposed how bad Bideneconomics have been for small businesses, which support around 60% of jobs in the U.S.
“There’s no Bidenomics for them,” he stated. “I can’t find a single program out of all of those billions of dollars that have been printed, much of it not spent yet, that was initiated from Bidenomics.”
“If you’re doing 50 million in sales to Walmart and you need a 5 million dollar credit line, good luck. There’s no Bidenomics for you,” O’Leary later added. “I”m just waving a flag saying, hey everybody, I am small business, and I’m telling you, you’ve got to start focusing on the 60% of the economy where everybody else lives. It’s just great to take care of the big guys, but the small guys are suffering.”
“Nothing is more painful to watch than a boring politician. Trump is not boring.”
Shark Tank host Kevin O’Leary says people simply “don’t care” about Trump’s wrongdoings,@kevinolearytv | @Roolockwood | @TalkTV | #PMU pic.twitter.com/yBe1jxIW4d
— Piers Morgan Uncensored (@PiersUncensored) August 28, 2023
It sadly looks like we’re heading into a Christmas that will be a difficult one for millions of Americans. We all had better brace ourselves now, because there seem to be some very rough times coming.
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