In an interview with Fox Business host Liz Claman, Paulson, founder of Paulson & Co., outlined the stark contrast between the economic visions of Donald Trump and Kamala Harris. He pointedly criticized the Biden-Harris administration’s intention to raise the corporate tax rate from 21 percent to 28 percent and the capital gains rate from 20 percent to a staggering 28 percent.

“The difference between the Trump administration and Harris is very, very different,” Paulson stated.

He elaborated on the specifics, noting, “Trump is — wants to extend the current, very successful tax policy, which was implemented in 2017. The Biden-Harris group, on the other hand, wants to change that. They want to change the corporate tax rate from 21 to 28 percent, they want to raise the capital gains rate from 20 percent initially to 39 percent now, they flip-flopped back to 28 percent.”

Now, after seemingly rushing to implement their agenda, the Biden-Harris administration is facing pushback not just from the public but from influential figures like Paulson. When asked about the potential for future investments, Paulson made it clear that the upcoming election would weigh heavily on his financial decisions.

“Well, I would say it very much depends on who is in the White House and who controls Congress,” he explained.

This statement raises a critical question: why should the American people trust a leadership that seems intent on flipping the script on successful policies? Paulson expressed deep concern about a Harris presidency, particularly regarding her proposed tax plans.

“I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated. You alluded to the tax on unrealized gains — if they do implement a 25 percent tax on unrealized gains that would cause mass selling of almost everything. Stocks, bonds, homes, art. I think it would result in a crash in the markets and a immediate, pretty quick recession,” Paulson asserted.

It’s hard not to see this as a politically charged warning. Could it be that the Biden-Harris administration is so out of touch with economic realities that they would jeopardize the financial security of countless Americans? The implications are staggering.

When Claman pointed out that people pulled their money out of the stock market during the tenures of both Barack Obama and Donald Trump, despite the markets rising under their administrations, Paulson reiterated his stance.

“It depends on the policy,” he said.

The bottom line is crystal clear:

“I think if Harris was elected, I would pull my money from the market. I’d go into cash and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets,” Paulson concluded.

In a political landscape riddled with uncertainty, Paulson’s warnings should serve as a wake-up call. The stakes are high, and the implications of a Harris presidency could reverberate throughout the economy, affecting not only the wealthy but everyday Americans as well. As we approach the 2024 election, one must ask: is this the direction we want for our country?

Major U.S. indexes recorded their worst day since early August, with the S&P 500 plummeting 2.1% and the Nasdaq Composite crashing 3.3%. The Dow Jones Industrial Average, meanwhile, lost a staggering 626 points, or 1.5%.

Now, after seemingly rushing back from the Labor Day holiday, traders were met with disheartening data that reignited fears about the manufacturing sector. Is this just another example of the Biden-Harris administration’s failure to manage the economy effectively? The benchmark 10-year U.S. Treasury yield fell to 3.843%, down from 3.910% on Friday, signaling a lack of confidence among investors.

“We have faded this growth scare perhaps too soon,” said Arun Sai, senior multiasset strategist at Pictet Asset Management. But one has to wonder: are we really just being overly optimistic, or is there something more sinister at play here?

Investors had been riding high on nearly two years of double-digit gains for the S&P 500, but this recent downturn exposes the market’s vulnerability to sudden reversals. While the surging market has created millionaires and boosted many Americans’ net worth, it has also left stocks looking alarmingly overpriced. Companies in the S&P 500 are trading at about 21 times their projected earnings over the next 12 months, well above the 10-year average of roughly 18, according to FactSet.

Even with Tuesday’s decline, the S&P 500 is still up 16% for the year. However, it’s worth noting that the index hasn’t experienced a correction—a pullback of 10% or more from a recent high—since last October. Is this a sign of impending doom?

Data released on Tuesday revealed that U.S. factories are grappling with ongoing weakness in demand. The ISM’s purchasing managers’ index came in lower than expected for August and remains in contraction. S&P Global’s PMI also stayed in contraction, while construction spending data showed a larger-than-anticipated decline. With Friday’s monthly jobs report looming—a key reading that could dictate the Federal Reserve’s next moves—investors are left to wonder if the Fed’s actions are coming too late to avert a recession.

“The story’s not written yet,” said Josh Jamner, investment strategy analyst at ClearBridge. But can we really trust that the Fed will act in time to save us from a downturn?

The Fed is widely expected to initiate its first interest-rate cut later this month. Chair Jerome Powell has made it clear that “the Fed intends to act to stave off a further weakening of the U.S. labor market.” But with the current economic climate, one has to question whether these measures will be enough.

Tech stocks were hit particularly hard on Tuesday, with Nvidia shares plummeting 9.5%. This catastrophic drop resulted in a staggering $279 billion loss in market value—the largest one-day decline in market cap for a U.S. company on record. Despite this, Nvidia is still up 118% for the year. Other chip stocks followed suit, with the PHLX Semiconductor Index down 7.8%.

Boeing also faced a rough day, with shares falling 7.3% after Wells Fargo downgraded the stock, knocking off about 84 points from the Dow industrials index.

In a rare twist, traditional defensive plays—those stocks investors typically flock to during economic uncertainty—managed to shine. Consumer staples and real estate stocks saw gains, but can they really be trusted to hold the market together?

In the commodity markets, fears of dwindling demand from China sent oil prices tumbling. Front-month Brent crude futures dropped 4.9% to $73.75 a barrel, marking its lowest value of the year. Copper prices also fell, dragging down shares of mining and energy companies.

Overseas, Japan’s yen appreciated against the dollar, but will this be enough to offset the turmoil brewing in the U.S. markets? As we navigate these turbulent waters, one thing is clear: the stakes are high, and the future remains uncertain.

Perhaps now is a good time to move wealth or retirement to physical precious metals.