President Donald Trump urged Americans to vote for him in 2020 or the stock market could crash and a recession may occur. | Source: Nicholas Kamm / AFP
By CCN Markets: President Donald Trump urged Americans to vote for him in 2020 or face the ugly consequences: The stock market will crash, and the economy could crumble into a recession.
Trump made the bold assertions during a raucous rally last night in Manchester, New Hampshire. Speaking to a capacity crowd of 11,000 supporters, Trump made the economic argument for his reelection.
“The United States right now has the hottest economy anywhere in the world,” Trump gushed.
“You have no choice but to vote for me! Otherwise, your 401k [will go] down the tubes. Everything’s going to be down the tubes. So whether you love me or hate me, you gotta vote for me.”
Trump: USA will never be socialist
Trump also slammed Democrats, saying the party has veered so far to the left that its 2020 presidential candidates are openly championing socialism.
The billionaire real-estate mogul has repeatedly underscored that socialism is a failed ideology that undermines the capitalistic system that has made the United States the richest nation in history.
Trump sounded the alarm, saying “radical Democrats are trying to tear everybody apart” and impose sky-high taxes that will financially cripple millions of Americans.
“Now we have a bunch of socialists or communists to beat. Does anybody want to pay a 95% tax [rate]?”
Attorney: ‘Trump economy has been fantastic’
While Trump’s numerous critics dismiss his rhetoric as bluster, even his detractors concede that the U.S. economy is flourishing amid record-low unemployment.
Despite the backlash he faces, millions of Americans credit Trump for the recent stock market boom. Litigator and businessman Todd V. McMurtry told CCN that the “Trump economy has been fantastic.”
The Dow Jones Industrial Average has surged during the Trump presidency – recent downturn notwithstanding. | Source: Yahoo Finance
McMurtry says he has experienced firsthand the positive effects of the Trump economic boom.
“As a professional service provider, I have felt the positive momentum,” McMurtry told CCN. “As a small real-estate developer, I see many busy general contractors. It has been strongly positive across the board. That progress would end immediately if any of the current group of Democrat candidates became President. We all know it would be back to Obama’s secular stagnation.”
If McMurtry’s name sounds familiar, it’s because he and his team recently made international headlines for filing a $275 million lawsuit against CNN for allegedly defaming a teenager named Nick Sandmann. McMurtry’s team also filed a separate $250 million lawsuit against the Washington Post, and a third $250 million lawsuit against NBC.
Meanwhile, the stock market has experienced massive turbulence this week amid escalating US-China trade tensions. However, there’s growing optimism that the trade dispute might soon be resolved after Trump delayed imposing tariffs on many consumer goods imported from China.
At his New Hampshire rally, Trump defended his tough negotiating stance toward China. He alleged that the Chinese economy is flailing and could sink into a recession if it doesn’t agree to a mutually beneficial trade agreement.
“If they don’t get this Trade Deal with the U.S. done, China could have it first recession (or worse!) in years. There’s disinvestment in China right now. Also, the Fed is too tight (I agree).” Steve Moore, Heritage Foundation
— Donald J. Trump (@realDonaldTrump) August 15, 2019
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Author: Samantha Chang