Grant Cardone: 3 Ways the Economy Could Change With Trump In Charge
Written by
Caitlyn Moorhead
Edited by
Amber Barkley
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The outcome of this last presidential election has the potential to affect the economic growth for the United States. Former President Donald Trump is now the president-elect, and Grant Cardone, private equity fund manager and real estate investor, believes this could put the economy on the upswing.
“He’s a confident guy,” Cardone, told GOBankingRates. “The economy likes confidence, right? Whether it’s real or not real, it doesn’t really matter. Everything is based on confidence.”
However, it’s not just the effects of bravado that will reign over interest rates, domestic product and Social Security benefits. Cardone elaborated on a few tangible ways a Trump administration could improve the economy.
An End to Two Major Wars Could Boost the US Economy
Post President Joe Biden’s administration, international conflicts can be costly for the U.S., which often provides financial aid to allies. Cardone believes Trump will end several wars, which could mean a cut back on spending in the larger economic plan.
“I believe Donald Trump will stop both wars, both the war in Israel and the war in Ukraine, within 90 days of being elected,” Cardone said.
The Real Estate Market Will Bounce Back
Because outside of the stock market, Trump is also a major real estate investor, Cardone believes that Trump will ensure the real estate market flourishes under his leadership. Much like Trump’s tax cut goals, his real estate market plans could have big implications from tax rates to job creation.
“He’ll make sure real estate wins,” Cardone said. “He always has — that’s his baby.”
Domestic Oil and Gas Production Will Boom, Lowering Costs and Creating More Jobs
Cardone predicts that Trump will focus on increasing oil and gas production domestically.
“The gas and oil community will explode in this country,” he said. “Gas and oil will go to two bucks here. I absolutely believe that, because we’ll start producing gas and oil again. Heating your home and running fuel through your car [will become] cheaper.”
Not only could this lower costs for American households, but it would also create more high-paying jobs, Cardone said.
“Gas and oil [will be] coming out of everywhere, from Texas all the way up into the Dakotas,” he said. “That produces tremendous, high-paying jobs in a part of the country that is not heavily populated. And that’s good for America.”
Cardone believes that increasing oil and gas production domestically will have a positive ripple effect on the U.S. economy.
“[If] the cost of gas goes down [and the] cost of oil goes down, there’s more confidence in the marketplace, [and] we have less dependence upon other people for our oil and gas needs,” he said. “That would be a positive.”
Final Take To GO
The bottom line is that Trump has proved himself to be a polarizing figure, whether you voted for him or not, but this doesn’t mean he won’t have an impact on the economy in a positive way according to Cardone.
As someone who is partially responsible for the federal budget, all of Trump’s claims will have to be considered when anticipating the larger economic outcome, both nationally and globally. As Trump once again takes office there are several moves including trade wars, mass deportation of immigrants and tax cuts that could affect the Federal Reserve unpredictably.
Gabrielle Olya contributed to the reporting for this article.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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