In the wake of a massive market selloff across a slew of risk assets, from Japanese and American stocks to cryptocurrencies, former President Donald Trump took to his Truth Social account to warn of a “Great Depression” in 2024 if Kamala is elected, saying that voters should instead choose the prosperity he will bring.
As background, the Japanese Nikkei index fell dramatically after a Japanese surprise rate hike of 0.25%, dragging down American indexes with them. The Dow Jones Industrial Average (DJIA) closed down 2.6% Monday, while the S&P 500 index dropped by 3%, and the NASDAQ fell by 3.43%. Adding to the selloff were fears of a recession and a disappointing jobs report that came out on Friday, August 2.
Posting on Truth Social before markets opened on Monday morning, former President Trump wrote, “STOCK MARKETS ARE CRASHING, JOBS NUMBERS ARE TERRIBLE, WE ARE HEADING TO WORLD WAR lll, AND WE HAVE TWO OF THE MOST INCOMPETENT “LEADERS” IN HISTORY. THIS IS NOT GOOD!!!”
He followed that up with a quote from who he called “The Legendary Howard Lutnick,” saying, “’Japan down 12%, India down 6%. Germany way down also. U.S. really bad. This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in. Kamala and the markets don’t go together. She’ll destroy the markets. She’s in power now and look at what is happening. One week of the fake media saying better polls and you get a market crash.’ The Legendary Howard Lutnick!”
Following those up with a post shortly after markets opened and the selloff temporarily escalated, he wrote, “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”
He then told voters that they have a choice between he prosperity his administration will bring and the issues of Kamala, saying, “VOTERS HAVE A CHOICE — TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024, NOT TO MENTION THE PROBABILITY OF WORLD WAR lll IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE. REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”
In the afternoon of that same day, he shared a video about the “Kamala Krash.” Watch that here:
"*" indicates required fields
In another post about economics, former President Trump argued that the high level of inflation is a result of Bidne-Harris incompetence, writing, “People vote with their STOMACH, and food is now at an all time high because of Kamabla/Biden INCOMPETENCE. With them in charge, IT WILL ONLY GET WORSE!”
Further, former President Trump commented on the devastating and highly worrisome stock market and economic situation in a Monday post on his Instagram account, writing, in a post shown as a picture and in the caption to the pictorial post, “STOCK MARKETS CRASHING. I TOLD YOU SO!!! KAMALA DOESN’T HAVE A CLUE. BIDEN IS SOUND ASLEEP. ALL CAUSED BY INEPT U.S. LEADERSHIP!”