Forbes magazine editor and former presidential candidate Steve Forbes tells Newsmax that Mitt Romney will win the GOP presidential nomination and defeat President Obama in the November election.

But he warns that an Obama victory — perhaps even the anticipation of an Obama win — will lead to a market selloff and another recession.

Forbes is president and CEO of Forbes Inc. He ran for the Republican presidential nomination in 1996 and 2000, urging the adoption of a flat income tax with a single tax rate. He makes frequent appearances on the Fox News Channel.

Forbes originally endorsed Rick Perry for the Republican presidential nomination. But with victories in three primaries on Tuesday, Mitt Romney appears to have the nomination sewn up.

In an exclusive interview with Newsmax.TV, Forbes was asked if he has any reservations about now supporting Romney.

“No, I’ll support whoever the nominee is and it looks like he is going to be the nominee,” he says.

Read more on Newsmax.com: Steve Forbes Warns of New Obama Recession if Re-Elected
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