Former President Donald Trump suggested that a potential stock market crash might happen if he doesn’t succeed in the 2024 U.S. presidential elections.
What Happened: Trump, during a Fox News town hall held in Iowa on Wednesday, voiced his apprehension about a possible economic slump within the next year, drawing parallels with former President Herbert Hoover, whose tenure saw the Great Depression despite inheriting a stable economy.
"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.
See Also: Trump Opts To Deliver His Own Closing Argument In New York Civil Fraud Trial: Report
While Trump clarified that he did not desire a market crash, he suggested that the economy was not in good shape, despite the stock market’s strong performance.
“I think the economy is horrible, except the stock market is going up, and I think the stock market is going up because I'm leading Biden in all of the polls," Trump said.
"I think there will be a crash if I don't win," Trump added.
"And I say that, and I do not want to be Herbert Hoover."
Hoover had only served as president for a brief period when the stock market collapsed in 1929, leading to the onset of the Great Depression.
Why It Matters: Trump’s comments come amid warnings from former White House lawyer Ty Cobb, who on Tuesday raised a red flag about the potential threat posed by former President Donald Trump to the democratic system. Cobb was responding to a legal argument from Trump's team that suggested a former president could use presidential immunity to justify actions like ordering the assassination of a political opponent by SEAL Team Six.
Although Trump saw a decline in his poll numbers, the former president continues to lead in most election polls for the 2024 presidential election despite facing multiple federal charges. The latest Morning Consult poll of GOP voters showed Trump with a comfortable 52-point lead over his Republican opponents, which dropped from a 55-point lead in the previous two polls.
Meanwhile, the former president’s recent weight loss has been attributed to healthier eating habits and the absence of buffet visits at his Mar-a-Lago club, with his wife, Melania Trump, reportedly playing a key role.
Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
