November 2, 2024
Former President Donald Trump is calling Monday's stock sell off the "Kamala crash." After the markets opened, the Dow Jones Industrial Average fell more than 1,000 points, while the Nasdaq and S&P 500 also fell by 3.9 percent and 3.2 percent respectively, on recession fears, Fox Business reported. The tech...

Former President Donald Trump is calling Monday’s stock sell off the “Kamala crash.”

After the markets opened, the Dow Jones Industrial Average fell more than 1,000 points, while the Nasdaq and S&P 500 also fell by 3.9 percent and 3.2 percent respectively, on recession fears, Fox Business reported.

The tech stock heavy Nasdaq also fell over 1,000 points for the first time since its inception in 1971. The weak jobs report — only 114,000 new jobs were added in July versus the 175,000 anticipated, as unemployment ticked up from 4.1 percent to 4.3 percent — helped fuel the sell off.

Trump posted on Truth Social, “Voters have a choice — Trump prosperity, or the Kamala crash & Great Depression of 2024, not to mention the probability of World War lll if there very stupid people remain in office. Remember, Trump was right about everything!”

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Trump Brands Stock Market Tumble ‘Kamala Crash,’ Says He Has the Solution

The Republican nominee wrote in another post, “Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. 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!!!”

In a third post, Trump wrote in his classic all caps: “STOCK MARKETS ARE CRASHING, JOBS NUMBERS ARE TERRIBLE, WE ARE HEADING TO WORLD WAR lll, AND WE HAVE TWO OF THE MOST INCOMPETENT ‘LEADERS’ IN HISTORY. THIS IS NOT GOOD!!!”

Could Trump turn the economy around?

Yes: 100% (16 Votes)

No: 0% (0 Votes)

The former president also quoted Cantor Fitzgerald financial services CEO Howard Lutnick, who said, “Japan down 12%, India down 6%. Germany way down also. U.S. really bad. This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in.”

Lutnick continued, “Kamala and the markets don’t go together. She’ll destroy the markets. She’s in power now and look at what is happening. One week of the fake media saying better polls and you get a market crash.”

Harris is polling better against Trump than President Joe Biden was.

Nationally, the Real Clear Polling average showed Trump with over a 3 percentage point lead against Biden in the seven swing states that will likely decide November’s election.

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However, Harris has cut Trump’s lead to just 0.7 percent, with the vice president in the lead in the most recent surveys included in the average.

Further, Harris just took the lead over Trump in pollster Nate Silver’s average for the first time since she entered the race, by a margin of approximately 2 percentage points.

GOP advisor David Winston argued in a column for Roll Call last week that Harris will have to defend “Bidenomics.”

“For the past three years, Biden has tried and failed to convince voters that ‘Bidenomics’ is working for them,” Winston wrote. “Now it’s Harris’ turn to defend the administration’s policies on inflation and the economy, issues that will be central to the electorate’s assessment of her candidacy.”

“But presidential candidate Harris enters the race with a significant challenge,” the column continued. “As vice president, she cast a critical vote to break a tie in the Senate and allow the $1.9 trillion American Rescue Plan to move forward toward a final vote. Had it not been for her vote, the bill might never have gotten to Biden’s desk for his signature.”

Economists have identified the ARP, the stimulus bill passed in March 2021 as the economy was well on its way to recovery, as the “original sin” that led to the 40-year-high inflation the nation experienced following its passage.

Harris also cast the tie-breaking vote for the $1 trillion-plus Inflation Reduction Act in 2022, which is filled with “green” initiatives that have been coming in at more than three times the anticipated costs.

Clearly Trump’s solution to the “Kamala crash” is to elect him in November, so the policies implemented in his first term of less spending, lower taxes, and less regulation can be put back in place.

Randy DeSoto has written more than 3,000 articles for The Western Journal since he began with the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book “We Hold These Truths” and screenwriter of the political documentary “I Want Your Money.”

Birthplace

Harrisburg, Pennsylvania

Nationality

American

Honors/Awards

Graduated dean’s list from West Point

Education

United States Military Academy at West Point, Regent University School of Law

Books Written

We Hold These Truths

Professional Memberships

Virginia and Pennsylvania state bars

Location

Phoenix, Arizona

Languages Spoken

English

Topics of Expertise

Politics, Entertainment, Faith