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Tags: 2020 Elections | George Soros | george soros | wall street | 2020 | election

Soros: Wall Street Won't Decide 2020 Election

Soros: Wall Street Won't Decide 2020 Election

By    |   Friday, 25 October 2019 08:51 AM

Billionaire investor George Soros says Wall Street will have little sway in the upcoming presidential election.

“There are more Main Streets in America than there are Wall Streets,” he told the New York Times. “So I don’t think that Wall Street, other than being a source of money, will have its way in choosing the president,” the billionaire philanthropist and former currency trader told the Times.

Soros likes Senator Elizabeth Warren’s chances of becoming the Democratic nominee, saying that she has “emerged as the clear-cut person to beat,” the Tmes quoted him as saying. 

“She has emerged as the clear-cut person to beat,” he said, according to the paper. “I don’t take a public stance, but I do believe that she is the most qualified to be president,” he said.

Meanwhile, Moody's Analytics economic models have missed just one presidential election since 1980 – when it slighted President Donald Trump in 2016 – and now three are pointing to an even larger Trump victory in 2020.

After all, "the economy, stupid," as James Carville legendarily said.

"If the economy a year from now is the same as it is today, or roughly so, then the power of incumbency is strong and Trump's election odds are very good, particularly if Democrats aren't enthusiastic and don't get out to vote," Moody's chief economist Mark Zandi told CNBC. "It's about turnout."

Moody's three economic models project at least 289 electoral votes for Trump and as many a 351, per Zandi.

"Our 'pocketbook' model is the most economically driven of the three," Moody's reports. "If voters were to vote primarily on the basis of their pocketbooks, the president would steamroll the competition. This shows the importance that prevailing economic sentiment at the household level could hold in the next election."

Trump defeated Hillary Clinton in the electoral vote 304-227, and economic indicators suggest President Trump is going to win 55% of the popular vote barring a "significant downturn" in the economy, according to Oxford Economics, The Washington Post reported.

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Billionaire investor George Soros says Wall Street will have little sway in the upcoming presidential election.
george soros, wall street, 2020, election
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2019-51-25
Friday, 25 October 2019 08:51 AM
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