On Saturday, December 30, 2023, LeakXtra reported that former President Donald Trump has issued a dire warning regarding the future of the United States economy.
In a statement posted on his Truth Social platform, Trump predicted a stock market crash surpassing the severity of the 1929 crash, foreseeing the onset of another Great Depression unless he secures victory in the 2024 presidential election.
Trump declared on Friday night, “If I don’t win, it is my prediction that we will have a stock market ‘crash’ worse than that of 1929 – a Great Depression!!!” Emphasizing his signature slogan, “Make America Great Again!”
The statement commenced with a sharp critique of President Joe Biden’s economic policies, specifically highlighting substantial inflation that has significantly diminished Americans’ purchasing power.
Despite some optimism in the stock market, Trump argued that the Federal Reserve’s promise, under the Biden administration, to decrease interest rates in an election year was akin to applying a Band-Aid to a fundamentally flawed economic strategy.
Lamenting the state of the economy, Trump’s statement asserted, “The economy is terrible, and inflation, which by some accounts is more than 30% over the last three years, has totally destroyed the buying power of the consumer.”
According to Trump, the only thing sustaining the economy is the residual effects of achievements during his administration. He claimed, “The stock market is only high because people, and institutions, believe and expect me to win the presidential election of 2024.”
Trump did not shy away from criticizing prominent Republicans, particularly Senate Minority Leader Mitch McConnell, accusing him of enabling the Democrats’ expansive spending agenda. Trump contended that McConnell, through key GOP votes, was steering the nation perilously close to a historic economic downturn.
“We are very, very close to a depression from the likes of which we have never seen,” Trump warned during a speech to the New York Young Republicans Club Gala in early December. He further criticized McConnell, alleging that McConnell’s actions were a betrayal to the Republican Party and the nation.
“It is a disgrace to the Republican Party, and it’s a disgrace to our nation.”
This marks not the first time Trump lambasted the Biden administration for allegedly relying on the “fumes” of his own administration’s accomplishments. At a rally in Cedar Rapids, Iowa, he asserted, “The Biden administration is running on our fumes. That’s all they’re running on. They don’t have anything. They’re doing everything wrong. They’re running on our fumes.”
