Anthony Scaramucci says Trump will get fired but markets won’t care
Anthony Scaramucci believes President Trump will get removed from office for his “prima facie lawlessness.”
“The jig is up,” the former White House communications director told CNN Business on the “Markets Now” live show Wednesday. “The guy committed a criminal act as president of the United States. Just look at the transcript.”
Scaramucci, founder of Skybridge Capital, said the just released transcript of Trump’s conversation with Ukrainian President Volodymyr Zelensky is an untenable political situation for Republicans.
“They’ll rally together and kick him out,” Scaramucci said. “They know they’re better off without him than with him.”
Scaramucci predicted more “gaslighting” from Republican politicians in the near future. He said some lawmakers will claim Trump broke no laws in his conversation with Ukraine’s president in July. At the time, Trump asked Ukraine’s leader to investigate Democratic presidential candidate Joe Biden’s son for potential corruption, although no public evidence exists of any wrongdoing.
Scaramucci believes the public will turn against Trump and lawmakers will eventually stand against the president.
Yet the hedge fund manager believes the markets won’t react to Trump’s removal, should that take place.
Scaramucci noted that the Dow is up nearly 150 points Wednesday, a day after House Speaker Nancy Pelosi announced that Congress will begin impeachment investigations. And the market’s reaction has been muted in recent years compared to the massive run-up before the government passed tax cuts.
“It doesn’t matter to the market,” he said. “It will look at this situation with some amount of relief. …My prediction is the market is pricing in he’s gone.”
Scaramucci spent 11 days as Trump’s communications director before his firing in July 2017. He recently turned against Trump and said Wednesday he “hates the guy.”
“He’s an angry, petulant guy,” Scaramucci said. “He’s trying to run the executive branch by himself. The President of the United States is taking no one’s counsel.”
But Scaramucci said he believes that the Democratic presidential field includes some untenable candidates. He called Senators Elizabeth Warren and Bernie Sanders’ billionaires’ wealth tax proposals “tried and true socialist policies.”
“It will never work,” he said. “These socialists think people like me have my money in a swimming pool in $100 bills. That’s just not how it works. … If that comes to pass [that one of them is elected], it will be a real hit to the stock market.”
He said the prospect of President Trump remaining in office is “scarier” than Elizabeth Warren’s potential election. But he predicts neither will happen.
“The good news is he’s such a rank lawless felon-like person,” he said. “This is the last episode of ‘The Apprentice.’ Dude, you’re fired, you gotta go.”