With the whole country watching the impeachment inquiry into President Donald Trump, former Ronald Reagan budget director David Stockman says it’s merely a “side show” to the real threat to capitalism — the potential of having President Elizabeth Warren.

Stockman, who is no fan of Trump or his economic policies, laid out a laundry list of complaints during a recent interview with Yahoo Finance’s “The Ticker.”

“This is a sideshow,” Stockman said concerning revelations that Trump allegedly pressured Ukraine’s president to probe former Vice President Joe Biden and his son’s business dealings in the country.

“The real threat is the policies of the Trump administration,” he continued. “They are terrible. The trade war is a disaster. The border wars are demented. The fiscal situation is out of control. He’s attacking the Fed randomly. He’s about ready to start a war in the Persian Gulf. Those are the issues.”

Stockman, however, said Trump won’t be the only one to come under fire from the impeachment probe, which could ultimately take out the biggest threat to his reelection chances in 2020 — Biden.

“What this means is that the geniuses in the House Democratic caucus are going to finish off Biden,” Stockman said. “You get into a deep investigation of this — all the Republican think tanks will be coming the other way. Biden is almost finished already. This will kill him off.”

The biggest beneficiary, according to Stockman, is the surging Massachusetts Senator.

“I think the day traders, the algos and the perma-bulls ought to wake up down on Wall Street. Elizabeth Warren will be the nominee,” Stockman said, which all of the latest reports coming out of the financial industry confirm.

Wall Street is essentially on all-out red alert over a potential Warren nomination. Warren has portrayed herself as a champion for the working class who will break up big tech companies, big banks and big money with wealth taxes. Even the big-money Democratic donors are threatening to sit out the 2020 election entirely or, even worse yet for the Democrats, back Trump if Warren is who he faces.

So even though he’s no fan of Trump, Stockman says Warren is the biggest threat to capitalism at this point.

“It’ll scare the living daylights out of Wall Street when they figure out you might have a President Elizabeth Warren with Medicare for All, a Green New Deal, giving away everything to everybody, cancelling student debts,” Stockman said.

“She is the real threat to capitalist prosperity in America.”