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Hollywood star Michael Douglas has admitted albeit grudgingly that Republicans under President-elect Donald Trump are now the “party of the people” while Democrats are now seen as “elitist.”

The Wall Street actor appeared Friday on HBO’s Real Time with Bill Maher, where the episode revolved almost entirely on Trump’s stunning victory over Kamala Harris.

Michael Douglas, who is a longtime supporter of Democrat candidates, was clearly upset over Trump’s win.

“Wednesday morning, I was just so pissed at this razor thin race, right? It was going to be so close, you know, with all these polls — and it’s a wipeout,” Douglas said, adding that he later spent the day playing golf.

He said Democrats lost the election over the economy.

“In 40 years, the stock market has increased 5,000 percent and real earning wages have increased 14 percent,” Douglas said, later adding that ordinary Americans “are going week to week with the inflation, it is killing them.”

“And I think we really underestimated it, and the very fact now that we could talk about Republicans as being the people, the party for the people, and that we have this elitist party on the left, Democrats, is wild.”

During the campaign, Michael Douglas was one of many Democrat party elites who helped cover up President Joe Biden’s cognitive decline.

As Breitbart News reported, the Oscar-winning Hollywood star  defended Biden against questions about his mental fitness during an interview in April on CNN’s Fareed Zakaria GPS.

“Well, I think that I walk a little similar to him [Biden]. And the people that I’ve talked to and everybody that I have say he’s sharp as a tack. He’s fine,” he said.

Douglas even hosted a big-ticket Biden fundraiser in April with his wife, Catherine Zeta-Jones. The couple donated $100,000 to the Biden Victory Fund for the privilege of hosting the event.

Democrat leaders are now pointing fingers over Kamala Harris’ loss, with some including Rep. Nancy Pelosi (D-CA) saying Biden should have dropped out of the race earlier.

 Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com