Trump suggested that President Joe Biden's policies could lead to an economic depression rivaling the Great Depression of 1929 to 1939.
"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, it's not good," said Trump."What I'm concerned about, they keep talking about having some reversals, I don't want people mentioning the word 'depression.' Because where we're going now could be a very bad place.
"We've got get this act in order, we have to get this country going, or we're going to have a serious problem," he continued."Not recession. Recession's a nice word. We're gonna have a much bigger problem than recession. We'll have a depression. You know, in 1929 they had this thing called the Depression, you know that right? You wish, they wish, they could have had a recession only.
While few, if any, economists are currently predicting economic turmoil on the level of the Great Depression, many have recently concluded that a recession may be inevitable due to the high inflation rate. Stagflation is thought to beLarry Summers, a Democrat who served as the top economic adviser to former President
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US President Joe Biden 'doing great' after testing positive for CovidThe 79-year-old is experiencing mild symptoms and will continue to work, the White House says.
Read more »
US jury finds ex-president Trump aide Bannon guilty of contempt of CongressFederal jury finds former US president Trump’s chief strategist Steve Bannon guilty of contempt of Congress for defying a subpoena to testify before lawmakers investigating Capitol riots
Read more »
30 Great Outfit Ideas for Your Next Coastal Summer EventGot a beach party and don't know what to wear yet? Check out these amazing 30 outfit ideas that can be perfect for beach parties and coastal events
Read more »
Dead shark, believed to be Great White, washes ashore on Long IslandAuthorities say the 7-to-8-foot long shark was spotted by a resident before it washed back out to sea.
Read more »