High gasoline prices could prompt frustrated voters to oust President Barack Obama and push Mitt Romney into the White House in November, says real-estate mogul and one-time presidential hopeful Donald Trump.
"The fact is the Republicans have a great chance of winning under the auspices of Mitt Romney," Trump tells CNBC.
Sky-high oil prices are pushing gasoline higher at the pump and are threatening the overall economy similar in manner to 2008, the year of economic meltdown that Trump says was the product of soaring energy costs more than the financial collapse.
Editor's Note: Wall Street Whistleblower Warns of Meltdown, See His Uncensored Interview
"I think Mitt Romney could win and I think he will win," Trump tells CNBC.
"Look at what's going on with oil — could this be heading up to $150 a barrel again? Which is what I think caused the last depression, because I'll call it a 'depression,' more so than the banks," Trump tells CNBC.
OPEC countries manipulate oil prices to their own advantage, while China keeps its currency artificially cheap to gain an unfair advantage in the global trade arena, Trump has said.
Romney, the former Massachusetts governor, will put a stop to that.
"He's a good man. He gets China. He gets OPEC," Trump says.
In the meantime, high oil prices and loose monetary policies could send inflation rates rising in the near future, and real estate is a good hedge for spiking consumer prices, Trump said.
"You're going to see inflation like nobody's ever seen it before, and I always found the best thing to own for me personally has been real estate during inflation and during times actually like this," Trump says.
Romney has blamed Obama's energy policies for high fuel prices, pointing out the president isn't doing enough to boost domestic production, which would alleviate high energy costs. Romney says Obama is instead taking credit for George W. Bush's energy policies that did hike domestic output.
"Far from taking credit, he should be hanging his head and taking a little bit of the blame for what's going on today," Romney said recently, according to Reuters.
Editor's Note: Wall Street Whistleblower Warns of Meltdown, See His Uncensored Interview
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