Banana republics are bad for business: Shark Tank star KEVIN O’LEARY reveals the shocking impact Trump’s verdict will have on your family’s finances

We are in uncharted waters. Donald Trump is a convicted felon. The whole thing is perverse.

The American brand has been dragged through the mud, sunk to the level of a banana republic where rulers take their political enemies into the jungle to disappear.

This great nation now stands dwarfed in the eyes of international investors. And the economic consequences for ordinary Americans could be dire.

Undoubtedly, this nasty lawsuit – brought by partisan Democratic prosecutors in Manhattan – has already seriously damaged America’s credibility.

I was in London talking to investors when Stormy Daniels was on the stand testifying — and all the audience wanted to know was, “What the hell does a porn star’s use of condoms have to do with campaign finance law?”

They were right.

Trump’s unjust prosecution discredits the United States – and sends an urgent message to powerful entrepreneurs around the world that they too could face trial in Biden’s America on purely political grounds.

I was in London talking to investors when Stormy Daniels was on the stand testifying — and all the audience wanted to know was, “What the hell does a porn star’s use of condoms have to do with campaign finance law?”

No one really knows how much this belief will influence November’s presidential election. If this verdict hinders Trump’s chances of winning in 2024, there could certainly be cause for concern. And no one will be watching this more closely than wealthy investors.

I, like so many others with significant investments, only slept two hours on Thursday night. For now, I have to seriously consider: Do I move my money?

I certainly think there could be a real barrier to investment in New York State – and in the city.

The process has damaged New York’s once good reputation as the safest and most attractive financial capital in the world.

Real estate magnate Grant Cardone has already said he will never do business in New York City again after Trump’s verdict.

He rightly wonders why anyone would invest in the city if fair legal treatment cannot be guaranteed.

Why take the risk?

When investors like Cardone — who is worth more than $600 million — turn their backs on one of the country’s most famous business hubs, the impact will inevitably trickle down.

Less investment means fewer jobs and less prestige in the eyes of the global economy.

The Democrats’ high tax policies and even higher crime rates have already set New York on a path of decline; now investors will be further discouraged.

Indeed, the exodus was already underway.

Real estate magnate Grant Cardone (above right) has already said he will never do business in New York City again after Trump’s verdict. (Above) Arnold Schwarzenegger and Grant Cardone speak at the 2024 10X Growth Conference on April 4, 2024 in Hollywood, Florida

No one really knows how much this belief will influence November’s presidential election. If this verdict hinders Trump’s chances of winning in 2024, there could certainly be cause for concern.

Strictly high corporate taxes have caused construction projects originally planned for New York state to move to places like Oklahoma, Virginia, North Dakota and Montana.

In those business-friendly states, you can get a permit for major projects in just a few weeks. In New York, where there are countless red tape, this can take years.

High earners and their families are also moving – from New Jersey, New York and Massachusetts to Texas, Florida, Tennessee and other tax havens.

Add to that an unreliable legal system and New York quickly turns out to be completely unattractive for large companies.

All things considered, I still have confidence in the American appeals process. Trump’s ruling will undoubtedly be sent all the way to the Supreme Court.

And once this travesty is properly policed ​​and this corrupt prosecution is scrutinized, investors will feel less afraid.

The US is still the number 1 economy on earth. It is still the place where most capital goes to invest. Let’s hope that doesn’t change.