Former President Donald Trump just broke his silence and expressed his belief that if he fails to secure victory in the 2024 presidential election, the nation’s economy will plummet into a state of severe economic downturn akin to the infamous “Great Depression” of 1929.
During the extensive two-hour conversation held at his Mar-a-Lago resort, Trump further asserted that the recent surge in stock market performance can be attributed to his substantial lead over Democrat President Joe Biden in the polls. He suggested that individuals are placing their bets on a Trump triumph in the upcoming November elections.
“I think if I don’t win, we’re going to have a depression like 1929,” Trump told Breitbart News. “I think the reason the stock market is up is because if you look at the polls, people say I’m going to win. Biden is getting lucky in that regard. I had a phenomenal stock market. Everything was good about our economy. We had no inflation.”
The accuracy of Trump’s statement regarding the current booming state of the stock market is undeniable. As reported by CNBC, the market concluded the year on a positive note by experiencing a continuous upward trend for the ninth consecutive week on the last trading day of 2023. This resulted in gains not only for the month and quarter but also for the entire year.
“Stocks fell slightly on Friday, but the S&P 500 closed out 2023 with a surprising gain of 24% as inflation slowed, the economy remained strong, and the Federal Reserve signaled an end to its rate-hiking campaign,” CNBC’s Samantha Subin wrote, continuing:
“The S&P 500 rose for nine straight weeks to end the year, its best win streak since 2004. Big Tech stocks lifted the Nasdaq Composite to its best year since 2020 on AI enthusiasm. The broad index fell 0.28% to settle at 4,769.83, with a 24.2% gain for the year. The S&P 500 ends 2023 just short of a new all-time high. At one point on Friday, it climbed within 9 points, or less than 0.2%, from its record close of 4,796.56 attained in January 2022.”
According to Breitbart News, Trump expressed his belief that although inflation has slightly decreased in recent months, it is only a result of the overall struggling economy. He further claimed that the reported jobs numbers are unreliable, referring to them as “fake,” as he believes there are millions of individuals who are not actively seeking employment.
“The inflation has eaten up any gains,” Trump said. “The inflation is so rampant. The inflation has calmed down a little bit now, but that’s because the economy is not good. The jobs numbers are fake because millions of people are not looking for jobs.”
During a segment of the interview, Trump made remarks in response to Breitbart News’ inquiry about why he believes the establishment media is vehemently targeting him as an “authoritarian,” and in some cases, absurdly drawing comparisons to Adolf Hitler. When asked about the reason behind this behavior, Trump asserted that it is simply due to the fact that they lack any substantial arguments or evidence against him.
“They have nothing to campaign on,” Trump said of the Democrats pushing the authoritarian claims into the media. “The country is a disaster. Inflation has eaten up everything. There’s a new narrative; I’m telling you the reason the stock market is up is only because people think I’m going to win the election. That’s coming out big right now. They’re saying the stock market is up because people think I’m going to win the election. That’s happening by a lot.”
Following his interview with Breitbart News, Trump has been consistently advocating a comparable viewpoint, foretelling a potential “Great Depression” in the event of his defeat in November 2024 on Truth Social, addressing his extensive base of supporters.
According to a recent survey conducted by Morning Consult, a majority of American voters, specifically 50 percent, consider Trump to be the candidate they trust more than Biden when it comes to managing the economy. In contrast, Biden’s trust rating stands at a mere 32 percent, which is 18 points lower than Trump’s.