Former US President Donald Trump attends a campaign event in Iowa on January 6 (Photo: Reuters).
"When the American economy collapses, I hope that scenario happens in the next 12 months because I don't want to be Herbert Hoover," former President Donald Trump said in an interview broadcast on January 8 on the Lindell TV platform.
Previously, the US stock market crashed during former President Herbert Hoover's first year in office in 1929, signaling the beginning of the Great Depression.
Mr Trump, who has frequently criticised President Joe Biden's economic policies, has described the US economy as "fragile" and undermined the achievements of the Donald Trump administration.
Late last month, Mr. Trump also warned that the US economy would completely collapse if he did not return to the White House this year.
"The stock market is going up so much because people expect me to win the 2024 presidential election," former President Donald Trump wrote on the social media platform Truth Social.
"If I don't win, I predict we will have a stock market crash worse than 1929 - a Great Depression!!!" Mr. Trump warned.
He said the only thing keeping the economy afloat was “what we achieved under the Trump administration.” He added that under President Joe Biden, high inflation had “completely destroyed the purchasing power of consumers.”
Mr. Trump argued that the Biden administration’s official inflation statistics, which show prices have risen about 17% since he took office in 2021, underestimated the real figure by nearly half. He pointed to an older measure that showed the figure was actually 30% higher.
However, US Treasury Secretary Janet Yellen has defended the state of the US economy.
"A lot of the pessimism about the economy has proven unfounded. A year ago, most forecasters believed the United States would fall into recession. Clearly that has not happened. We have a strong labor market," Ms. Yellen said.
In November 2023, former President Donald Trump announced that he would run for re-election in 2024. The announcement came as Trump has been at the center of several lawsuits in recent months.
In total, Mr. Trump faces 91 criminal charges. The former White House owner has so far denied all charges, claiming that the investigations against him are politically motivated.
Meanwhile, President Joe Biden announced in April 2023 that he would run for re-election. Biden's 2024 campaign strategy memo states that he will focus on "the existential threat to democracy that Donald Trump represents."
A Morning Consult and Bloomberg poll released last December showed Mr Trump leading Mr Biden in seven battleground states: North Carolina, Georgia, Wisconsin, Nevada, Michigan, Arizona and Pennsylvania.
Source
Comment (0)