Kevin O’Leary signaled he is staying the course with President Donald Trump’s Republicans ahead of the midterms. He frames it as a default, arguing no other market offers global capital a better deal.
He never named Trump or the Republican Party, yet the on going vote puts control of Congress at stake.
Why Does O’Leary Call the US the Default Choice?
O’Leary, chairman of O’Leary Ventures and a “Shark Tank” investor, first conceded that households feel financial strain. He then reframed the vote as a choice between offers.
“I understand people are feeling financial pressure. But when I look at the choice in front of voters, I ask: what’s the better offer? The U.S. remains the default economy for investors around the world. With 52 cents of every internationally invested dollar coming here, I’m staying the course.”
O’Leary gave no source for the 52-cent figure. The 2025 Economic Report of the President measured the US share of global gross capital inflows at about 41%. That covered 2022 and 2023.
In August, he called the economy strong across the board, which Benzinga reported could benefit Trump’s administration.
However, he said in December that Trump was pitching his economic record too early while voters still felt inflation.
This month, he added that strong corporate earnings do not ease household affordability.
Can a Default Economy Hold if Voters Disagree?
Republicans entered the vote defending a 53-47 Senate majority. Persistent inflation, a war with Iran and falling Trump approval are some of the major headwinds for the standing party.
Economist Peter Schiff wrote on Oct. 22 that a pre-election crash was possible, citing stock valuations and inflation.
Since 1982, the S&P 500 has risen in the year after every midterm, per BeInCrypto’s S&P 500 midterm history.
O’Leary also warned on Oct. 30 that the midterms could create gridlock in Washington, impacting crypto friendly regulations, like the Clarity Act.
Such a gridlock could also leave markets weighing his default-economy case against the inflation and valuation risks that critics such as Schiff cite.
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