We are in uncharted waters. Donald Trump is a convicted felon. The whole thing is perverse.
The American brand has been dragged through the mud, sunk to the level of a banana republic where rulers take their political enemies out to the jungle to disappear.
This great nation now stands diminished in the eyes of international investors. And the economic consequences for ordinary Americans could be dire.
No doubt, this sordid trial – brought by partisan Democratic prosecutors in Manhattan – has already done serious damage to America’s credibility.
I was in London speaking to investors when Stormy Daniels was testifying on the stand – and all the audience members wanted to know was: ‘What on Earth does a porn star’s use of condoms have to do with campaign finance law?’
They were right.
The unjust persecution of Trump discredits the United States – and sends an urgent message to powerful business owners everywhere that, in Biden’s America, they too could stand trial on purely political grounds.
We are in uncharted waters. Donald Trump is a convicted felon. The whole thing is perverse.
I was in London speaking to investors when Stormy Daniels was testifying on the stand – and all the audience members wanted to know was: ‘What on Earth does a porn star’s use of condoms have to do with campaign finance law?’
No one truly knows how much this conviction will sway November’s presidential election. Surely, if this verdict hampers Trump’s chances of winning in 2024, there might be cause for concern. And no one will be watching more closely than wealthy investors.
I, like so many others with sizeable investments, managed just two hours sleep Thursday night. For now I have to seriously consider: Do I move my money?
I certainly think there could be a real drag on investment in New York State – and City.
The trial has wounded New York’s once sterling reputation as the safest and most attractive finance capital of the world.
Real estate mogul Grant Cardone has already said he’ll never do business in New York City again after the Trump verdict.
He rightly questions why anyone would invest in the city if they can’t ensure fair legal treatment.
Why take the risk?
If investors like Cardone – who is worth more than $600 million – turn their backs on one of the country’s most famous business hubs, the impact will inevitably have a trickle down effect.
Less investment means fewer jobs, and less prestige in the eyes of the global economy.
Already, high-tax Democrat policies and even higher crime have set New York on a path of decline; now investors will be even further disincentivized.
Indeed, the exodus was already happening.
Real estate mogul Grant Cardone (above, right) has already said he’ll never do business in New York City again after the Trump verdict.
No one truly knows how much this conviction will sway November’s presidential election. Surely, if this verdict hampers Trump’s chances of winning in 2024, there might be cause for concern.
Punishingly steep corporation taxes have pushed construction projects originally planned for upstate New York have moved to places like Oklahoma, Virginia, North Dakota and Montana.
In those business-friendly states, you can get a permit for large projects in a just few weeks. In New York, where there are countless layers of red tape to contend with, it can take years.
High-earners and their families are moving, too – from the likes of New Jersey, New York and Massachusetts to Texas, Florida, Tennessee and other low-tax havens.
Add an untrustworthy justice system into the mix and New York is fast proving itself wholly unattractive for big business.
All said, I do still have faith in America’s appeals process. Trump’s verdict will no doubt be thrown all the way to the Supreme Court.
And once this travesty is correctly checked and this corrupt prosecution scrutinized, investors will feel less spooked.
The US is still the No.1 economy on Earth. It is still the place where most capital comes to invest. Let’s hope that doesn’t change.
