Overstock (NASDAQ:OSTK) CEO Patrick Byrne is back at the helm after a four month medical leave of absence due to complications from Hepatitis C. Although he is happy to be back at the helm of the online retailer, Bryne hasn’t been too pleased with the state of politics in America.
During an interview on FOX Business Network’s After the Bell, the Overstock founder said the only choice in this election is Libertarian candidate Gary Johnson.
“The big lie in this campaign is that we only have two choices,” Byrne said. “The truth is if both Hillary and Trump, and I think just for the record, I think Trump is a disgrace to America and I think Hillary Clinton belongs in an orange jumpsuit. But if both of those, if Gary can win just a small number of electoral votes, enough that neither of them [Clinton and Trump] get over 270, the whole thing gets thrown into the House per the Constitution.”
Byrne's scenario is a long shot. It has been about two centuries since the U.S. House of Representatives voted to elect John Quincy Adams after no presidential candidate received a majority of electoral votes in the election of 1824.
Despite so many factors needed for the House to vote, Byrnes still thinks both political parties will prefer Gary Johnson if it comes to that.
“There are some combinations of states where this whole thing moves to the House and if it’s in the House, the Democrats are going to prefer Gary Johnson to Donald Trump and the Republicans are going to prefer Gary Johnson to Hillary Clinton,” Byrnes told co-host David Asman.
Byrnes also discussed what will happen to the U.S. economy if Clinton or Trump wins the presidency.
“I think that we are in for a financial crisis. They are just staving it off. It’s going to be worse than ’08 and I think they’ll just keep doing what they’ve been doing which is giving bigger and bigger doses of Novocain until the problem becomes untreatable.”