Former President Donald Trump predicted the US economy would “crash,” saying he hoped it would do so within the next year – before he would assume the Oval Office should he win a second term in November.
“When there’s a crash, I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president – I just don’t want to be Herbert Hoover,” Trump said in an interview that aired Monday on the right-wing platform Lindell TV.
The US stock market crashed during former President Herbert Hoover’s first year in office in 1929, which signaled the beginning of the Great Depression.
The comments come as the front-runner for the Republican nomination looks to drive home his message on the economy – and criticism of President Joe Biden – with less than a week to go until Iowa’s pivotal caucuses.
This is the best summary I could come up with:
Former President Donald Trump predicted the US economy would “crash,” saying he hoped it would do so within the next year – before he would assume the Oval Office should he win a second term in November.
The comments come as the front-runner for the Republican nomination looks to drive home his message on the economy – and criticism of President Joe Biden – with less than a week to go until Iowa’s pivotal caucuses.
“A commander in chief’s duty is to always put the American people first; never to hope that hard-working families suffer economic pain for their own political benefit,” said White House spokesperson Andrew Bates.
“Republican officials should welcome the economic progress President Biden is delivering, instead of revealing twisted true colors that would shrink the American middle class in the name of their own cynical self-interests.”
Besides being spared a recession, the US stock market overcame regional banking turmoil, a debt ceiling crisis and geopolitical tensions last year.
The election threatens to stir up market volatility, though history shows the S&P 500 index tends to gain during the fourth year of presidential terms.
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