Economic gloom and doom are big headline makers, but this time, as a result of a predicted socialist wave taking Congress in November, the disaster may come to pass. Thomas Peterffy, a refugee from communism who established Interactive Brokers, says the midterms, after a socialist victory, “could be devastating for the market.”

Peterffy, born in Hungary, is the antidote to George Soros, also born in Hungary, except Peterffy opposes socialism and wants to save the system that made him a billionaire.

Ironically, however, so-called “conservative” opponents of Super Intelligence, based on data centers, are playing into the hands of the socialists. Investor Kevin O'Leary says the socialist campaign to delay the advent of “Super Intelligence” in the U.S., backed by data centers, is such that many data center projects will never get built, giving Communist China the edge.

Peterffy, a refugee from communism, was on CNBC on Friday and explained, “So people vote according to what they believe. And if they really believe that free market economy is their enemy and they would do a lot better in their socialist system, then this market could unravel very, very quickly because all the entrepreneurs and corporate executives will begin to focus on how to save their companies instead of trying to think about how to innovate new things and how to grow.”

These comments are a major indication that corporate America will liquidate its holdings and hide its wealth after possible socialist wins in 2026 and ahead of 2028.

Peterffy said the midterms “could be devastating for the market.”

“We Need to Win the AI Race” he declares, because AI technology promises increased earnings and productivity.

Meantime, Vice President JD Vance predicts the worst may be yet to come, if the socialists win.

"Western liberals brought the third world into France [and other countries] in the name of diversity and compassion,” he said. “They ignored fundamental questions of assimilation and compatibility. They were told it would lead to this and they didn't listen. I pray that France, a beautiful country of amazing people, will stop this madness before more of its landmarks burn. And I hope Americans are paying attention. This is the future [that] congressional Democrats seek for your country."

Peterffy—who obtained a valid permit to emigrate to the U.S. in 1965 from West Germany, where he had secured a short-term, family-visit travel visa—has emerged as a major Trump supporter who has warned about the impact of socialism and communism. beginning with the Obama presidency.

Watch this video of his experience under communism.

He is not only the only financial expert warning of a socialist takeover.

Michael Hartnett, chief investment strategist at Bank of America, has noted that if prediction markets are correct and the Democratic Party achieves a full sweep of Congress this November 3, stock markets could see a potential downside of 10% or more.

Although a 10% decline in the stock market is generally defined as a correction, not a crash, the implications could be enormous.

A report on Hartnett’s advice says “Full control of Congress by the Democrats would hinder Trump's ability to force governments, corporations, and resources into supporting his policies of resource monopolization and AI supremacy over China.”

The term “resource monopolization” refers to America First policies of control over raw materials (such as bauxite, oil, or rare minerals) essential to our economy and national defense.

The implication is that China will come out as a big winner if their socialist allies win control of the House and Senate. That’s certainly true if “conservatives” join forces with socialists to block progress.

Peterffy, who created Interactive Brokers in 1993 to give everyday investors direct, low-cost electronic access to markets worldwide, launched his “Freedom to Succeed” ad in 2012. It is still relevant and can still be seen on YouTube.

Here is a transcript of Thomas Peterffy’s Anti-Socialism TV Ad from 2012:

"I grew up in a socialist country.

I saw what it does to people. There is no hope, no freedom, no pride in achievement.

The nation became poorer and poorer, and that’s what I see happening here.

As a young man, I escaped to America with nothing. Here, I was able to build a business and create thousands of jobs.

America's wealth comes from the efforts of its people striving for success—of taking risks, working hard, and building things.

In socialism, the rich will be poorer, but the poor will also be poorer. People lose interest in really working hard and creating jobs.

I am deeply concerned that we are taking a path toward socialism. It is a slippery slope.

Vote for candidates who understand that wealth comes from success, not government."

The year 2012, when Peterffy launched his anti-socialism campaign, was the year Barack Hussein Obama ran for his second term, after passage of the socialist medicine scheme known as Obamacare, the Affordable Care Act (ACA), with the support of the U.S. Catholic Bishops. During his first term, Trump rallied Republicans in the House and Senate to repeal Obamacare, but Senator John McCain vetoed the effort, and repeal failed.

It has now been discovered to include roughly 760,000 unverified “phantoms” representing approximately 315,000 policy enrollments. They were receiving ACA premium tax credit (PTC) subsidies without proper eligibility verification. The Trump administration is removing these improper enrollees.

Furthermore, the White House Task Force to Eliminate Fraud, led by Vice President JD Vance, identified 189,000 individuals improperly receiving ACA subsidies, including approximately 70,000 deceased individuals and 120,000 individuals double-enrolled in Medicaid.

Meanwhile, under the umbrella of the Soros-funded Indivisible, so-called Social Democrats constitute the latest group of communists organizing on behalf of Democrats this November under the “No Kings” banner. They proclaim, “We are Socialists; therefore, we believe in Free Education, Universal Health Care, Anti-Death Penalty, Pro-Abortion, Universal Basic Income, the Right to Unionize, the sanctity of the Separation of Church and State, and the belief that the Government should make life bearable for all and ensure citizens' Liberties.”

The “No Kings” protests, which I have covered on several occasions, depict Trump as a “King” or even a fascist. The latter is, of course, designed to suggest he is a Hitler-style politician whose death is required to restore “democracy.” I took actual photographs of lunatics carrying posters and signs threatening the assassination of President Trump and a “guillotine” for Elon Musk.

By the way, like Rep. Alexandria Ocasio-Cortez and Senator Bernie Sanders, communist leaders Lenin, Trotsky, and Stalin began their careers as “social democrats.”