Trump warns of epic stock market crash if Dems win in 2020
President Trump -- just days before his official campaign launch -- warned that stock markets will crash if he is not re-elected in the 2020 presidential election.
“The Trump Economy is setting records, and has a long way up to go....However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before!” Trump wrote in a tweet on Saturday.
Trump is expected to kick off his campaign on Tuesday in Florida. His tweet could be a preview of one of his biggest campaign trail talking points: the economy.
Historically, the economy tops a list of issues that voters consider important during elections, and some experts think Trump’s solid, business-friendly record could provide a big boon to his electability next year.
The president repeatedly touts the strength of the economy and has frequently said that if the Federal Reserve did not raise interest rates in December -- it’s fourth time doing so in 2018 -- the stock market could be “10,000 points higher.”
“We have great numbers,” Trump said this week during an interview with ABC News. “The companies are very strong. They've very liquid. Frankly, if we had a different person in the Federal Reserve that wouldn't have raised interest rates so much, we would have been at least a point and a half higher.”
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In the first quarter of 2019, the GDP rose at a 3.1 percent annualized rate, shaking off the effects of a five-week-long government shutdown – the longest in U.S. history – that White House officials once warned could result in near-zero growth. Although job creation fell short of expectations in May, the labor market has been, for the most part, steady. Unemployment is at a historic low. Stocks fell on Friday, but it was still the second straight week of small gains for all three indexes.