OPINION: This article may contain commentary which reflects the author's opinion.
Several business executives attending the World Economic Forum (WEF) in Davos, Switzerland, this week spoke about the very real potential of a second term for former President Donald Trump in terms that were anything but alarmist.
In fact, according to CNBC, while their European counterparts were far more concerned about another Trump term, many U.S. executives were decidedly unconcerned about it, with many predicting he would win and others praising his first-term economic policies.
A prominent U.S. business executive, who preferred to remain anonymous due to the confidentiality of his discussions with foreign leaders, suggested that some of the apprehension might stem from a limited understanding of the checks and balances inherent in the U.S. government system, CNBC said.
“I’m not sure Europeans understand how weak executive orders are,” the person told the outlet. “We have a justice system. Congress will probably be divided. It’s right to be cautious, but it won’t be the end of the world.”
Yet another U.S. bank CEO, speaking privately, conveyed irritation with the media’s tendency to exaggerate the perceived threat of a Trump presidency, emphasizing that he believes the former president is “all bark and no bite.” The bank executive also downplayed Trump’s refusal to accept the outcome of the 2020 election as mere rhetoric.
“He’s going to win the presidency,” the CEO predicted. “Many of his policies were right.”
Earlier this week, JPMorgan Chase CEO Jamie Dimon also spoke highly of Trump’s foreign and domestic policies while he scolded President Joe Biden, members of the Democratic Party, and their left-wing media cheerleaders over portraying “MAGA” supporters of former President Donald Trump as “threats to democracy.”
“I wish the Democrats would think a little bit more carefully when they talk about ‘MAGA,’” he said during a CNBC morning show segment on Wednesday.
“You know if you travel this country… We’ve got this great hand. When people say MAGA, they actually look at people voting for Trump, and they think they’re voting for — they’re basically scapegoating them, that you are like him,” Dimon continued.
“I don’t think they’re voting for Trump because of his family values. Just take a step back, and be honest. He was kind of right about NATO. He was kind of right about immigration. He grew the economy quite well. Tax reform worked. He was right about China. I don’t like what he did… and how he said things about Mexico. But he wasn’t wrong about these critical issues,” Dimon added.
“That’s why they’re voting for him. People should be more respectful of our fellow citizens, and when you guys have people up here, you should ask why. Not like it is a binary thing, supporting Trump or not supporting Trump,” Dimon said.
“And the Democrats have done a pretty good job with the deplorables hugging onto their bibles and beer and guns. I mean, really? Can we just stop that stuff and grow up and treat other people with respect… I think this negative talk about MAGA is going to hurt President Biden’s election campaign,” he added.
WATCH:
JPMorgan's Dimon might skew centrist-left, but he is exactly right about Biden and Democrats' portrayal of Trump's "MAGA" voters as a 'threat' to the country.
In short: It's stupid and will backfire. pic.twitter.com/hYJWaLSfZN
— USA Features Media (@UsaFeatures) January 17, 2024
He also said he hopes “the country survives” with either Trump’s return to the White House or Biden’s reelection.
“I will be prepared for both, we will deal with both, my company will survive and thrive in both,” Dimon said.
Others were similarly unconcerned.
“I think elections are, you know, huge deals. I believe that America is gonna be fine,” OpenAI CEO Sam Altman told Bloomberg this week. “No matter what happens in this election.”
Nasdaq CEO Adena Friedman said that it is just too early to focus on what Trump may or may not mean for the country this time around.
“Honestly, I think they need to see how the primaries shake out,” Friedman said.
