Kevin O'Leary Warns Harris's Recession Response Could Lead To Economic Disaster

"Shark Tank" star Kevin O'Leary says he's concerned about how a Democratic administration might manage an economic downturn.

With even the most pessimistic economists seeing a 50/50 chance of a recession, O'Leary said on Fox Business's "The Evening Edit" that he's in the "soft landing camp."

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"After Aug. 7, when the happy days are over, there's risk," he said. "And, of course, we must see [Kamala Harris] move to the center."

O'Leary's remarks followed a global market sell-off on Aug. 5, when the Dow dropped 1,033.99 points or 2.6%, while the Nasdaq composite and S & P 500 declined by 3.43% and 3% respectively. The Dow and S & P 500 experienced their worst day since September 2022.

A weak jobs report and declining manufacturing activity, combined with bleak forecasts from major technology companies, led to a correction in the Nasdaq 100 and Nasdaq composite last week. And since President Joe Biden's announcement that he's not running for a second term, O'Leary said he has consulted advisers from both political parties to evaluate their economic strategies.

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"I talked to some people, including those who've been advising Harris in the last 14 days, and they don't see any reason to come and talk to the press year," O'Leary said. "They're still in the happy phase, and they're killing it in fundraising and they have the next big happy phase when she picks the vice president."

On Aug. 8, Harris selected Minnesota Gov. Tim Walz as her running mate, but O'Leary emphasized that her agenda leans more toward the center. Reflecting on past events, he pointed to Canada, where Prime Minister Justin Trudeau avoided discussing policy years ago, rarely gave press interviews and simply reassured everyone, "Don't worry, it's sunny ways."

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O'Leary noted that Trudeau won by a landslide, a major mistake for Canadians.

"Turns out he had no executional skills," O'Leary said. "Does VP Harris have any executional Skills? She has a double-whammy challenge: She's got to go to the center with a policy everybody understands, including me and every other investor. And then, she's got to convince everybody in those seven swing states: I can get the job done."

O'Leary has said that he's neither a Republican nor a Democrat supporter. Instead, he considers the candidates’ policies when deciding who to vote for.

"I want to do policy that helps create jobs in America, and I don't care whether they're red or blue or independent jobs," he said during an interview with NewsNation journalist Chris Cuomo.

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