Donald Trump – the Republican presidential front-runner prophesied that US is on the course for a “very massive recession.’’ He warned that an amalgamation of an overvalued stock market & high unemployment had set the stage for yet another economic slump.
“I think we are sitting on an economic bubble. A financial bubble,” said the billionaire businessman on Saturday.
Coming off a rough week on campaign trail in which he made a series of slipups, Donald Trump’s latest remarks bring him back into limelight ahead of Tuesday’s important primary in the Wisconsin where he trails in polls.
Trump stated that the real jobless figure of the United State is much higher than 5% number that is released by the Bureau of Labor Statistics of the United States.
“We are not at 5% unemployment,” said Trump.
“We are at a number that is probably into the 20s if you look at the real number,” said the businessman, adding that the formal jobless figure is “statistically devised to make politicians & in particular presidents look good.”
Donald Trump said that “it is a terrible time right now” to invest in stock market. He offered a more austere view of U.S. economy than that the numerous mainstream economists hold.
The famed Watergate reporter, Bob Woodward and Post’s Robert Costa bylined the interview.
Donald Trump made appealing to blue-collar workers a trademark of his bid for Republican nomination for the 8th November presidential election, often accusing unemployment on outsourcing United States jobs & the facilities to the countries like Mexico & China.
Donald Trump had pledged in the interview to wipe out more than 19 trillion dollars of the national debt “over a period of 8 years,” aided by a renegotiation of the trade deals.
“I am renegotiating all of our deals, the big trade deals that we are doing so badly on,” said Trump.