“If the stock market sucks, there’s gonna be a blue wave,” Portnoy said during a Monday livestream. “If the stock market is like what it is right now, and it’s becoming close to the midterm elections, we will have like 100% Democrats.”
“Because That’s how people vote, and I would too,” he added.
Portnoy clarified that he is not in the “panicking party.” However, he suggested that if President Donald Trump’s tariff strategy does not see benefits, there could be major consequences for Republicans in 2026.
“If this tariff thing is just a total disaster and we’re a year and a half away from this thing and the stock market hasn’t rebounded and this trade war is a debacle and inflation … everything is gonna be in the sh*tter because of it … if that’s the case in a year and a half, it’s all Democrats,” Portnoy said.
According to Portnoy, Trump is “very smart” and has a “window of time” to prove that his strategy works.
“I think he already can,” he said. “I think he already can spin this to be like, ‘This country called me. This country did this. We negotiated a better rate there.’”
“I don’t know what’s going on with China like I don’t know if we’ll ever get anywhere with China, but all these other countries, I think we can, and I think the stock market will rebound … So, I think you gotta hang tight,” Portnoy continued.
Portnoy’s prediction proved to have some truth to it Tuesday morning as the stock market opened higher and rebounded after several days marked by steep losses.
STOCK MARKET RALLIES AFTER TRUMP OPENS TARIFF NEGOTIATIONS WITH JAPAN, SOUTH KOREA
At 10:00 a.m., the S&P 500 was up by 3.2%, and the Dow Jones rose by roughly 3% as Trump started negotiations with multiple nations, including Japan and South Korea.
“I think we can end up with some good deals,” Treasury Secretary Scott Bessent said. “And I actually think, as I said over the weekend, President Trump has maximum negotiating leverage right here, right now, and I think it would be a mistake for anyone to think otherwise.”
