A private equity fund manager used a Fox News appearance to accuse viewers concerned about their retirement accounts of underestimating President Donald Trump.
Grant Cardone was speaking about the effects of Trump’s tariffs—which have created chaos in markets around the world—on The Ingraham Angle on Monday when he took a swipe at regular Americans who may be concerned about their 401(k) or IRA.
“Let’s keep this real,” he told Ingraham. “Donald Trump has Plan A, one plan, Make America Great Again. There is no other plan and the short-term traders or the pundits on TV that are watching Wall Street, look guys, this is beyond your pay plan.”
“This man is a master in negotiating,” Cardone went on. “This is a negotiation at global levels that we’ve never seen before. He’s transparent, he’s authentic, he knows what he’s doing, and he will Make America Great Again.”
“So, you guys that are at home and you’re worried about your 401(k), your IRA, or you traders out there or bankers that are worried about your commissions, just step aside,” he said. “This is not the time for Monday quarterbacking. You’re not in the game, President Donald Trump is. You’ve underestimated him over and over and you’re doing the same thing this time.”
Stocks took another hit Monday, with the Dow Jones Industrial Average dropping 971.82 points, or 2.48 percent to close at 38,170.41.
The S&P 500 fell 2.36 percent, while the Nasdaq Composite lost 2.55 percent.
Despite this having a real-world effect on millions of people, Ingraham then got in on the act, asking Cardone: “It’s almost like if there is no recession by Summer, then aren’t all these doomsdayers going to look really stupid, Grant?”
“Well yes, absolutely they will, and he has predicted over and over what would happen here,” replied Cardone.
“Look, he’s bringing China to the table,” Cardone said. “This is going to be great for America. There will be a contraction and the difference is we’ve been in contraction for a long period of time. Joe Biden just lied. The entire administration lied over and over about how good of shape the economy was in.”
Cardone also claimed that America “is going to go into a great prosperity”—despite economists warning that growth will be hurt by Trump’s trade policies.
“There might be a contraction temporarily,” Cardone said, “But it’s good times ahead for the American families.”
