“Reinstate MAGAnomics”: Trump Says Economy Will Be Unstable if He Doesn’t Win the Presidency

Donald Trump says the United States will suffer its biggest stock market crash ever if he is not elected president in November. His fiery remarks ahead of the South Carolina primary on Saturday echo equally divisive comments about wanting a stock market crash to occur this year.

November 5 Focus

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Trump said he was not concerned about the South Carolina results but was fixed on the November 5 election date. He told supporters at a rally in Rock Hill: “We’re not very worried about tomorrow. We want to aim for November 5.”

South Carolina Win

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Trump scored a fourth Republican primary win on Saturday by taking South Carolina by a landslide, just as he did in Iowa, Nevada and New Hampshire. He won 59.8 percent of the vote compared to 39.5 percent for Nikki Haley, a former governor of South Carolina and his only remaining opponent after others dropped out.

Would Abolish ‘Bidenomics’

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Trump told the South Carolina crowd that should get back to the White House, he would do away with President Biden’s economic policies – collectively known as Bidenomics.

‘Didn’t Work’

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He said: “With your vote, we will vanquish Bidenomics, which is a very negative term, you know. He [Biden] heard the term; he loved it. No, that’s a really bad term. It didn’t work.”

New ‘MAGA Policies’

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Instead, Trump said, if he becomes president again he would introduce new economic policies aligned with this Make America Great Again (MAGA) campaign slogan and movement.”

‘MAGAnomics’ Instead

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Trump said to cheers that we would “reinstate MAGAnomics. That’s right. You guessed it. And we will bring our country back from hell; our country’s been through hell.”

‘Stock Market Crash’

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But Trump warned: “If we lose (the presidential election), you’re going to have a crash like you wouldn’t believe.”

‘Largest Ever Crash’

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And he said, in a direct warning to stock market investors: “If we lose – that’s an incentive, if you have stock – if we have a tragedy happen on November 5 – it would be a tragedy – in the opinion of many and in my opinion, you will have the largest stock market crash we have ever had.”

‘Crash This Year’

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In January, Trump came under fire for saying he hoped there would be a stock market crash this year, because if he won the election in November, he wouldn’t want to preside over an economic downturn, the way former President Herbert Hoover did during the Great Depression, which lasted a decade from 1929.

‘Next 12 Months’ Hope

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Trump said: “When there’s a crash, I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president – I just don’t want to be Herbert Hoover.”

Trump’s Indictments

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Trump also told his supporters at the rally in South Carolina that 91 criminal charges he is fighting that are contained in four indictments against him were nonsense.

The Charges

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Trump, 77, faces the prospect of the rest of his life in prison if found guilty over the indictments. Two allege he plotted to overturn the result of the 2020 election he lost to Joe Biden and prevent the peaceful transfer of power. Two others say he mishandled top-secret documents and falsified accounting to cover up payments to a former adult film actress so she wouldn’t disclose an alleged affair with him. Trump has denied all the charges and says they amount to a “politically motivated witch hunt” by Democrats trying to stop him from becoming president again.

Trump v. Biden?

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If Trump becomes the Republican nominee for the 2020 election, he will likely run against President Biden – in a replay of the 2020 vote – as the incumbent is the leading Democratic candidate for its nomination.

Biden’s Economic ‘Success’

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President Biden, 81, is touting his administration’s “success” in turning around an economy ravaged by years of the coronavirus pandemic. A feared recession has not occurred and unemployment is down, but, critically, inflation remains stubbornly high and is eating into Americans’ pockets with soaring prices of food and fuel.

Inflation ‘the Main Voter Worry’

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The majority of American voters want their leaders to focus on inflation and not the wider economy, polls suggest, in a possible difficulty for President Biden when one of Trump’s campaign pledges is to bring inflation down. Trump says he will also impose trade tariffs on imports that are aimed at spurring domestic production and boosting the economy.