Donald Trump Warns US Economy Is Facing ‘Much Bigger Problem Than Recession’ — ‘We’ll Have a Depression’

Former President Donald Trump has warned that the U.S. economy is facing “a much bigger problem than recession.” Noting that “We’ll have a depression,” he stressed: “We have to get this country going, or we’re going to have a serious problem.”

Donald Trump on Economic Recession and Depression

Former President Donald Trump warned Friday in a speech during a “Save America” rally in Arizona that the U.S. could enter an economic depression due to the fiscal policies of President Joe Biden. His remark was in support of Republican Arizona gubernatorial candidate Kari Lake.

Trump warned that the U.S. economy could enter a depression similar to the Great Depression of 1929. Recent data showed that inflation in the U.S. rose 8.6% in May from a year prior, the highest rate in four decades.

“Real wages are collapsing and we’re on the verge of a devastating, and this is devastating. It’s called stagflation look it up. It’s not good,” Trump stressed. “What I’m concerned about, they keep talking about having some reversals … where we’re going now could be a very bad place.”

The former president continued, “We have to get this country going, or we’re going to have a serious problem,” elaborating:

Not recession. Recession’s a nice word. We’re going to have a much bigger problem than recession. We’ll have a depression.

“You know, sisse 1929 they had this thing called the Depression, you know that right? You wish, they wish, they could have had a recession only,” he noted.

LOE  US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already ‘Out-of-Date’

Vahepeal, the Biden administration is downplaying the severity of the U.S. economic situation. Treasury Secretary Janet Yellen said Sunday on CNBC: “This is not an economy that is in recession. But we’re in a period of transition in which growth is slowing and that’s necessary and appropriate.” She stated:

Recession is broad-based weakness in the economy. We’re not seeing that now.

Trump is not the only one who has recently warned about a depression in the U.S. Rich Dad Poor Dad author Robert Kiyosaki has also warned about an economic depression in the country, noting that stock, bond, and real estate markets are crashing. Last week, he predicted that inflation may lead to a Greater Depression.

Sildid selles loos

What do you think about the warning by Donald Trump? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Pildi autorid: Shutterstock, Pixabay, Wiki Commons

Vastutusest loobumine: See artikkel on mõeldud ainult informatiivsel eesmärgil. See ei ole otsene pakkumine ega ostu- või müügipakkumise küsimine, või mis tahes toodete soovitust või kinnitust, teenuseid, või ettevõtted. Bitcoin-Tidings.com ei paku investeeringuid, maks, seaduslik, või raamatupidamisalane nõustamine. Ettevõte ega autor ei vastuta, otseselt või kaudselt, mis tahes kahju või kaotuse eest, mis on põhjustatud või väidetavalt põhjustatud mis tahes sisu kasutamisest või sellest sõltumisest või sellega seoses, selles artiklis mainitud kaupu või teenuseid.

LOE  American Economists Are Baffled by an ‘Unusual Situation’ as Russia’s Ruble Is the World’s Best Performing Fiat Currency

Lugege lahtiütlemine