The opposite is true of Biden’s running mate, California Senator Kamala Harris, who Gundlach called “one of the most left-leaning people in all of the Senate” who is not shy about sharing her opinions.
Americans should consider the possibility that a Biden victory means that at some point within the next four years, Harris will ascend to the presidency.
“We have to discount the probability of outright socialist policies with outrageous amount of deficit spending,” said Gundlach. “That would pose a big problem for stock and bond markets.”
But Gundach also said that 2020 is just another in a series of election cycles that have increased in their tumult and oddity.
By 2027, Gundlach expects economic inequality, strained by fiscal and monetary policy, to come to the point of some sort of revolution, which would put the 2024 presidential election directly in the path of massive social, economic and political change.
“When I said that I think Trump is going to win in 2016, I also said that if you think 2016 is weird, just wait for 2020,” said Gundlach. “Well, if you think 2020 is weird, just wait until 2024. You ain’t seen nothing yet.”
He also clarified his personal political beliefs for the audience:
"I don't have a Republican voice, I actually don't like the Republicans, and I don't like the Democrats," said Gundlach. "I used to be a Democrat, and I've voted for Republicans, but I simply don't like the influence peddling that both parties do. They've really turned into the same party in terms of their sources of money."
In contrast, Greg Valliere, chief U.S. policy strategist at AGF investments, said earlier in the day that he expects a Joe Biden electoral college victory and for Democrats to at least pull even with Republicans in the Senate.