Former President Donald Trump has attributed Monday’s sharp decline in the stock market to Vice President Kamala Harris, labeling it “the Kamala Crash.” Trump’s comments came after the Dow Jones Industrial Average plummeted 1,000 points in morning trading on Monday, following a significant drop of more than 600 points on Friday.
“Of course there is a massive market downturn. Kamala is even worse than Crooked Joe,” Trump wrote on social media Monday. He linked the market turmoil to Harris’s rise as the presumptive Democratic presidential nominee, adding, “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!!!”
Economists have pointed to a weaker-than-expected jobs-growth report released on Friday as a key factor in the stock market’s recent decline. The report showed that only 114,000 new positions were added to the US economy in July, falling short of the anticipated 175,000 jobs. This has raised concerns about a potential economic slowdown or recession.
In a subsequent social media post written in all caps, Trump continued, writing, “VOTERS HAVE A CHOICE — TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024, NOT TO MENTION THE PROBABILITY OF WORLD WAR III IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE. REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!”
Just last week, President Biden boasted that he had “cured the economy, and the environment.”
Trump has a long history of predicting economic downturns due to what he describes as ineffective political leadership, and he has claimed credit for the stock market’s gains during his presidency. These gains were, however, tempered by a brief recession triggered by the COVID-19 pandemic.
Before becoming the 2020 election, Trump warned that the market would crash if Biden defeated him.
And just days ago, Trump warned that if Kamala Harris wins the 2024 election, the U.S. would suffer a “Kamala economic crash.”
The term “Kamala Crash” coined by Trump mirrors the conservative critique of Harris’s economic policies, which some have termed “Kamalanomics.” This follows a trend where critics align her economic strategies with “Bidenonomics,” a term that has been used pejoratively amid high inflation levels.
Consumer prices have surged by over 20% since President Joe Biden and Vice President Harris took office in January 2021. In response to this inflation crisis, which peaked in June 2022, the Federal Reserve has raised interest rates, increasing the cost of credit and home purchases.
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5 Responses
I am sure you are indeed very proud of it. It generally contains some or all of the following:
Tax the wealthy.
Slowed economic growth.
Increased unemployment.
Increased regulation.
Increased welfare and unemployment benefits.
Government takeovers.
Get the picture COMRAD?
No sooner than the electoral college hits the magic # of 270 for President Donald Trump שליט”א in the wee hours of November 6th [if not already in the late hrs of Tuesday nite November 5th, due to the unbelievablered Red Tsunami], the markets in the Far East shall almost instantaneously sore to such heights, the likes of which has never been witnessed by mankind
8 days ago when the stock market was hitting all-time highs, this idiot was taking credit for creating these record price levels based on investors looking forward to his victory in November. Today, he is blaming Harris for the “crash”. Tomorrow he will say whatever he thinks makes him look like the unstable genius he claims to be.
What amazes me is that the media still report these inane postings.
If you want one measure of his investment credentials, look at the price of his new Truth Social company which has gone from $70/share to $26/share since April at a time that the stock market was hitting all-time highs every day.
147: Don’t get sore, but the correct spelling is soar.
There is very little a president can do that will cause the market to prosper or crash. However they all seem to be anxious to take credit when stocks go up (even though they didn’t cause it), so they should be blamed when it goes down (not their fault).
While only a fool would base his or her vote on how the markets are going, foolishness does seem endemic as of late.