Trump: The Economy Is Lying, We're Facing A 'Massive Recession'
Republican presidential front-runner Donald Trump says a combination of high unemployment and an overvalued stock market has the US economy heading towards a “very massive recession.”
The billionaire businessman says the real US jobless figure is way above the official 5%—he says its somewhere closer to 20%, Reuters reports.
"I think we’re sitting on an economic bubble. A financial bubble," Trump tells the Washington Post.
At odds with mainstream economists, Trump says “it’s a terrible time right now” to invest in the stock market.
Part of Trump's plan to fix this is to wipe out the more than $19T in national debt over the next eight years, along with renegotiating trade deals.
"I’m renegotiating all of our deals, the big trade deals that we’re doing so badly on," he said. [Reuters]
