Canadian billionaire and Shark Tank investor Kevin O’Leary recently said that while Wall Street is booming and the US economy is showing strength via corporate earnings and stock market gains, many households are still struggling with affordability. “There’s a huge disconnect between the performance of the underlying economy, whether it be small business or the S&P 500,” he noted, pointing to what he called an “extraordinary earning season.” O’Leary said the economy is performing “on all cylinders,” but warned that inflation above 3% continues to weigh on consumers.
Kevin O’Leary believes gas prices as a main election issue
Canadian billionaire O’Leary also argued that energy costs could play a decisive role in shaping voter sentiment ahead of the 2026 elections. “The number one input cost for every voter everywhere, every state, red or blue, is energy. It’s gasoline,” he said. He suggested that lowering oil prices below $70 per barrel before November could significantly influence voter opinions and potentially affect control of Congress.
Criticism of Trump’s economic policies
President Donald Trump has faced criticism over inflation and affordability issues. Economist Peter Schiff cited a July AP-NORC poll showing Trump’s approval rating at 33%, attributing the low numbers to voter concerns over rising costs. Lawmakers including Bernie Sanders and Elizabeth Warren have accused the administration of favouring billionaires and worsening household expenses through spending priorities and tariffs. House Minority Leader Hakeem Jeffries and Illinois Governor JB Pritzker also criticised Trump’s handling of inflation.
Kevin O’Leary predicts that America, Canada and Mexico will unite
In related news, recently Kevin O’Leary believes that the fear of China’s rise will be the driving force behind deeper economic integration between the United States, Canada and Mexico. According to a report by Business Insider, O’Leary posted a video on social media platform X (formerly known as Twitter) in which the venture capitalist said that covers over China’s advances in AI, technology, warfare and power generation will outweigh political disagreements across North America. O’Leary argued that each country brings unique strengths to the table: “Canada has the energy and critical minerals, the United States has the scale and innovation, and Mexico plays a vital role in the North American economy,” he said. He added that cooperation is not just good policy but “an economic necessity” as the race for AI, energy, and critical infrastructure accelerates.The comments made by the Canadian billionaire come amid the growing recognition of China’s technological momentum. SpaceX CEO Elon Musk also recently told Economist that China already produces far more electricity than the US and it could become the world’s AI leader if it manages to secure enough computing power. American AI labs OpenAI and Anthropic have also warned that Chinese rivals are closing the gap, with Beijing-based Moonshot AI drawing attention for its Kimi K3 model.
