Recently, Mad Money host Jim Cramer said he would no longer object to being vice president Kamala Harris if she was his candidate of choice in November US presidential election. According to him, her policies would favor large companies and multinationals more than Joe Biden.
A vote for Kamala Harris
While Biden has been quite aggressive in his approach to business regulation, Cramer sees Harris as more of a centrist and believes this could lead to a pro-business environment that could prove stability in the markets during what he calls the ‘Black November’ economic commotion .
This would also reflect economic uncertainty, with direct consequences of inflation, geopolitical tensions and stock market index movements affecting investor confidence. He said an initiative led by Harris’ party could alleviate or eradicate all these concerns.
BREAKING: Jim Cramer says Kamala Harris will win.
It’s over for her.
— DogeDesigner (@cb_doge) October 11, 2024
Her policies could provide an excellent mix of economic growth and stability, especially at a difficult time for companies to navigate markets around the world. Harris would likely bring competitive forces but not necessarily shake up big companies through her regulatory regime that promotes innovation without imposing strict measures on it.
A unique approach to regulating technology
As Biden adopts a more interventionist policy style, we may see the opposite with Harris, who adopts a more technology-based policy focus. Overall, Cramer believes Kamala Harris’ approach would be less aggressive compared to the opposition; he believes she can strike the balance that competition would create without stifling the big players in the tech industry.
Cramer’s Thoughts on the Trump-Vance Duo
Cramer even speculates about what an economic ticket would be for the president and vice president couple Donald Trump and J.D. Vance would mean it to be protectionist and pro-domestic. While this would help in some areas, it would threaten other multinational companies that rely on international supply chains.
Cramer argues that higher protectionism and economic nationalism will lead to destabilization, especially in companies whose business models involve international operations. A more globally oriented economic agenda would, as Harris suggests, most certainly stimulate the wave of globalization in which globalization has unfolded thus far, with a greater chance of stability for transnational corporations with interests abroad.
How a Kamala Harris presidency could impact the crypto industry
Meanwhile, if Kamala Harris wins the presidency, her centrist approach to technology regulation could significantly impact the cryptocurrency industry. In contrast to Biden’s aggressive regulatory stance, Harris could promote a more innovation-friendly environment. This would allow crypto companies to thrive without heavy-handed regulation, fostering competition while fueling growth.
With the crypto market valued at $2.1 trillion, a Harris presidency could bring clarity and stability to an often uncertain regulatory landscape. However, its policies are likely to adapt to broader economic needs as it navigates the complexities of the market.
Featured image from Getty Images, chart from TradingView