Henry Blodget is a journalist and the CEO of Business Insider, the hugely popular digital source for business news and insights. Blodget is a former Wall Street analyst who wrote The Wall Street Defense Manual: A Consumer’s Guide to Investing. Blodget doesn’t have a crystal ball, but his experience on the Street and covering global finance means his predictions must be taken seriously.
Blodget recently wrote an article looking at what the “day after” will look like — that is, if Americans elect Donald Trump president. Comparing a Trump presidency — “now a very real possibility” — to Britain’s reportedly regretted Brexit vote, Blodget sorts through various predictions and Trump’s own promises to compile a list of what would likely happen as a Trump presidency took effect. Among them is this startling prediction, which given Blodget’s background must be taken as credible:
“At some point in President Trump’s first term, there will be a major recession, and the stock market will drop 30-50% from the peak.”