Former adviser to President Donald Trump John Browne warned that the stock market would take a sharp drop if former Vice President Joe Biden were elected president.
During a Thursday appearance on Newsmax TV’s “American Agenda,” the former aide to Margaret Thatcher said “Biden and the Democrats are a Trojan horse for Marxism.”
He went a step further and said “Biden is not just a Trojan horse for Marxism, he’s a Trojan horse for a communist type of economy,” noting it would be “very bad” if he were elected.
Browne noted that the economy has some “good news.” He referenced residential home sales hitting the highest levels since 2001, the Chicago Business Barometer hitting its highest mark since 2011, and said personal spending is beginning to take place again.
He said market volatility now will focus on whether there will be another coronavirus stimulus package.
After the first presidential debate, he said the “markets had priced in a Trump victory.”
Under a Biden presidency, he predicted that there would initially be a “very sharp fall in the market” that would be followed by a recovery period that would come as the Democrats “borrow huge amounts of money to spend on infrastructure.”
Overall, he said poverty would exist.
“I think anybody today who votes Democrat certainly doesn’t worry about their personal 401(k),” he said.