President Barack Obama has stepped up politically divisive campaign rhetoric and will continue to do so, often going negative because he's done little positive to heal the economy, says Bob Doll, chief equities strategist at BlackRock, the world's largest asset manager.
In Kansas President Obama rallied voters, claiming "gaping inequalities" are threatening Middle Class Americans.
Expect such stumping to get worse, Doll tells CNBC
"It's going to be a pretty ugly process," he says, pointing out the president will go negative because he has few success stories to argue why he should be re-elected.
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"I think in the last four years the Obama administration is going to have a lot of struggles to point to people and say 'these are the good things' so is he going to have to go in a negative direction? Unfortunately, it's all about politics," Doll says.
"I think to the extent that growth is slow and our politicians — our president — are talking about dividing the pie, that's going to foment class warfare, the Occupy Wall Street kind of thing, political unrest, social unrest. We need some optimism and some solutions."
President Barack Obama
(Getty Images photo)
Obama, battling sluggish economic growth, stubbornly high unemployment rates and criticism his healthcare law and financial regulations are spooking businesses from investing and hiring, went out to rally his base in the U.S. heartland recently.
"For most Americans, the basic bargain that made this country great has eroded," Obama tells supporters in Kansas, according to the AFP newswire.
"This kind of gaping inequality gives (the) lie to the promise at the very heart of America: that this is the place where you can make it if you try."
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