Donald Trump, who predicted during the 2020 debate that the stock market would crash under President Joe Biden, said Sunday that the stock market is reaching record highs simply because “the rich are getting richer.” ” I was dissatisfied. The Dow Jones Industrial Average hit an all-time high last week, hitting $37,000, surpassing the previous record set in 2022. The former president often touted his stock market boom during his term from 2017 to 2021.
Trump sought to put an anti-Biden, populist spin on the new stock market record by telling a crowd in Reno, Nevada, “The stock market is making the rich get richer,” according to Reuters. “Biden's inflationary catastrophe is destroying savings and ruining dreams,” the Republican front-runner added, adding that Biden's previous The topic changed to high prices, a characteristic of his term in office. Despite recent wage increases, low inflation and low unemployment, Trump added, “We are a country whose economy is collapsing and we are a cesspool.”
Mr. Biden mocked Mr. Trump for making incorrect predictions last week in a campaign video shared on X/Twitter touting the stock market's record highs, CNBC reported. Biden: “Good, Donald.” tweeted. The video plays footage of President Trump declaring, “If Biden wins, we're going to see a stock market crash like we've never seen before,” followed by a newscaster praising the recent stock market rally. The audio was played. “Well, let's talk a little bit about the stock market. Boom,” Trump's former economic chief of staff Larry Kudlow said in an excerpt on his Fox Business show.
