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Montevideo, September 23rd 2018 - 14:24 UTC

US economy in a bubble, says Trump, ”I hope they pop before I become president'

Friday, January 29th 2016 - 04:40 UTC
Full article 60 comments
“It's a very daunting task, and we're in deep trouble. The country's a mess,” Trump told ABC's “Good Morning America” program. “It's a very daunting task, and we're in deep trouble. The country's a mess,” Trump told ABC's “Good Morning America” program.
“Look at the stock market today, look at it for the last week,” Trump said. “ ... We've gone down so much.” “Look at the stock market today, look at it for the last week,” Trump said. “ ... We've gone down so much.”
In November, Trump accused the Fed of keeping interest rates low to help Barack Obama, saying higher rates would burst the U.S. economic bubble. In November, Trump accused the Fed of keeping interest rates low to help Barack Obama, saying higher rates would burst the U.S. economic bubble.

Republican presidential candidate Donald Trump said the United States economy is in a bubble he fears will burst and he does not want to deal with a financial collapse if he is elected to the White House.

 The billionaire real estate mogul cited the economy as one of the toughest assignments he would face as president if he wins the Nov. 8 presidential election, along with the Iran nuclear deal.

“It's a very daunting task, and we're in deep trouble. The country's a mess,” Trump told ABC's “Good Morning America” program.

“We're in a bubble,” added Trump, the front-runner for the Republican presidential nomination. “And, frankly, if there's going to be a bubble popping, I hope they pop before I become president because I don't want to inherit all this stuff. I'd rather it be the day before rather than the day after, I will tell you that.”

Recent U.S. job growth has been strong and the latest government data showed that the nation's unemployment rate held steady last month at a 7-1/2-year low of 5% even as more people entered the labor force, a sign of confidence in the job market.

The U.S. economy is growing at about a 2% annual pace, but the manufacturing and industrial sectors have shown weakness. Slumping oil prices and slowing growth in China have cast a pall on the outlook for the global economy. World markets have slumped amid worries over China's debt.

“Look at the stock market today, look at it for the last week,” Trump said. “ ... We've gone down so much.”

In November, Trump accused the U.S. Federal Reserve of keeping interest rates low to help Democratic President Barack Obama, saying higher rates would burst the U.S. economic bubble.

Obama took office in January 2009 amid the biggest U.S. financial crisis in decades, leading to bank and auto industry bailouts and a multibillion-dollar economic stimulus package.

Categories: Economy, Politics, United States.

Top Comments

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  • ElaineB

    Trump sounds like an idiot without a clue. He acts like a man in the early stages of dementia. I sincerely hope for all my family and friends in the U.S. that he is never elected President.

    Jan 29th, 2016 - 07:33 am 0
  • alsy

    The man';s ignorance and stupidy is breathtaking - evidenced in nearly everything he says - but to take one pertinent example - “We're in a bubble,” .... “And, frankly, if there's going to be a bubble popping, I hope they pop before I become president because I don't want to inherit all this stuff. I'd rather it be the day before rather than the day after, I will tell you that.” Well hello Donald !!! An economic collapse of the kind you're referring to would not be fixed overnight so you could come to your inauguration with a clean slate.

    What a moron - and I'm sure the world outside the US is hoping like mad there are enough alert sensible American republican voters who do not endorse this crazy man as their presidential candidate. Dimentia is a real possibility -let's hope it's rapid onset so that everyone can be quite clear about his (un)fitness for office.

    Jan 29th, 2016 - 11:03 am 0
  • Captainsilver

    Trump + Palin Baahahaha - Americas Jeremy Corbyn (unelectable)

    Democrats are “luvin it!”

    Go Hillary!

    Jan 29th, 2016 - 11:13 am 0
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