Listen to this article

Some experts believe the coronavirus will stop President Donald Trump from getting re-elected. An economist, Nouriel Roubini (Dr. Doom) is famous for his pessimistic predictions. He correctly predicted the housing crisis and recession in 2008. Roubini has now said the coronavirus could have a major impact on the global economy and Trump’s presidency than people predict. He said, “I expect global equities to tank by 30 per cent to 40 per cent this year”. Roubini is working as a professor at New York University’s Stern School of Business. Last week, he informed German magazine Der Spiegel. The Wall Street saw the worst week since the 2008 recession hit with markets like the DOW.

A stock market index pointed out the stock performance of 30 US companies, falling 12.4%. The recent fall in stocks was due to growing concerns by investors regarding how the coronavirus would impact the global economy. Roubini said he thought the virus would impact the president politically come November besides focusing on the markets. He suggested the COVID-19 will significantly impact the U.S President politically during November 2020 U.S elections. He said, “You can’t build a wall in the sky. I live in New York City and people are hardly going to restaurants, cinemas or theaters. Nobody there has been infected by the coronavirus”.

President Trump has formerly garnered support by inciting fear into his followers regarding immigration and economy concerns. Roubini said, “Not at all. He will lose the election, that’s for sure. This has always been the case in history. Ford lost to Carter after the 1973 oil shock, Carter lost to Reagan due to the 2^nd oil crisis in 1979, and Bush lost to Clinton after the Kuwait invasion. The Democratic field is poor, but Trump is dead”. The strong and powerful economy is one area Trump has consistently rallied his supporters around. He is looking to convince them about his presidency results in more jobs and enhanced wealth.