Donald Trump Warns US Economy Facing ‘Much Bigger Problem Than Recession’ — ‘We’re Going to Have a Depression’ – Economics Bitcoin News

Donald Trump Warns US Economy Facing ‘Much Bigger Problem Than Recession’ — ‘We’re Going to Have a Depression’ – Economics Bitcoin News

Former President Donald Trump has warned that the US economy is facing a “much bigger problem than a recession”. Noting that “we’re going to have a depression,” he stressed, “We have to get this country moving 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 the “Save America” ​​rally in Arizona that the US could enter an economic depression because of President Joe Biden’s fiscal policies. His remarks were in support of Arizona Republican gubernatorial candidate Kari Lake.

Trump has warned that the US economy could enter a depression similar to the Great Depression of 1929. Recent data show that inflation in the US in May it increased by 8.6% compared to the previous year, which is the highest rate in four decades.

“Real wages are falling and we’re on the brink of devastating, and this is devastating. It’s called stagflation, look it up. It’s not good,” Trump emphasized. “What worries me is they keep talking about some twists and turns … 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:

It’s not a recession. Recession is a nice word. We’re going to have a much bigger problem than a recession. We will have depression.

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

Meanwhile, the Biden administration downplays the seriousness of the economic situation in the US. Treasury Secretary Janet Yellen said Sunday on CNBC: “This is not an economy that is in recession. But we are in a period of transition where growth is slowing and that is necessary and appropriate.” She stated:

A recession is a broad-based weakness in the economy. We don’t see that now.

Trump isn’t the only one to warn of a depression in the U.S. Rich Dad Poor Dad author Robert Kiyosaki also warned of an economic depression in the country, noting that stock, bond and real estate markets crashing. Last week he predicted that inflation could lead to a The Great Depression.

What do you think of Donald Trump’s warning? Let us know in the comments section below.

Donald Trump Warns US Economy Facing ‘Much Bigger Problem Than Recession’ — ‘We’re Going to Have a Depression’ – Economics Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered 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.




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