Donald Trump Warns of Stock Market Crash and Great Depression if He Loses Election

Trump's Concerns for the U.S. Economy

Former U.S. President Donald Trump has expressed grave concerns about the state of the U.S. economy and the potential consequences if he does not win the upcoming presidential election. Trump took to his social media platform Truth Social to highlight his worries.

According to Trump, the U.S. economy is currently in a terrible state, and inflation has significantly eroded the buying power of consumers over the past three years. He emphasized that the current economic situation is being sustained by the accomplishments made during his tenure as president.

Stock Market Crash and Great Depression Predictions

Trump went on to predict dire consequences if he does not secure victory in the 2024 presidential election. He warned that the stock market would experience a crash worse than that of 1929, which led to the Great Depression.

His belief is that the current high levels of the stock market are based on the expectation of his victory in the election. If he fails to win, Trump believes that market confidence will crumble, resulting in a devastating crash.

Inflation Figures and Alternative Measures

Official data from the Bureau of Labor Statistics (BLS) indicate a 17% increase in prices since President Joe Biden took office. However, an alternative measure, which applies the methodology used in the 1980s, suggests that inflation could be even higher, surpassing 30%.

Obstacles on Trump's Path to the Nomination

While Trump is considering running for the 2024 Republican nomination, he faces challenges in the form of ongoing legal battles. Currently, he is barred from the primary ballot in Colorado and Maine. The Supreme Court is expected to make a ruling on whether states have the authority to prevent him from running for president.

Previous Warnings and Concerns

This is not the first time that Trump has issued warnings about potential economic calamities if he loses the presidential election. In July, he predicted an economic depression, and in April, he expressed concerns about a crashing U.S. dollar and the risk of World War III. Additionally, Trump believes that the U.S. is losing the currency war against China as the Chinese government attempts to challenge the dominance of the U.S. dollar.

Predictions for Bitcoin and Crypto

Interestingly, some analysts have suggested that a Trump victory in the election would have a positive impact on the price of Bitcoin. Asset manager Vaneck, for example, expects Bitcoin to reach an all-time high if Trump wins. Furthermore, there is speculation that Trump may soften his anti-crypto stance if he were to secure another term as president. It is worth noting that Trump recently launched his own non-fungible token (NFT) collection and reportedly sold millions of dollars' worth of ether (ETH) received from NFT sales.

Your Opinion Matters

What are your thoughts on Donald Trump's warnings? Share your opinions in the comments section below.

Frequently Asked Questions

What is the best way to make money with a gold IRA?

Yes, it is possible. But not as many as you might think. It all depends on how risky you are willing to take. If you are comfortable investing $10,000 annually for 20 years, you could potentially have $1 million at retirement age. But if you put all your eggs in one basket, you'll lose everything.

Diversifying investments is crucial. Inflation can make gold perform well. You want to invest in an asset class that rises along with inflation. Stocks perform this well because they rise whenever companies increase their profits. This is also true for bonds. They pay interest every year. They are great during economic growth.

But what happens when there isn't any inflation? In deflationary periods stocks and bonds both fall in value. Investors should avoid investing all of their savings into one investment like a stock mutual funds or bond.

Instead, they should consider investing in a mixture of different types and funds. For example, they could invest in both stocks and bonds. They could also invest in cash or bonds.

So they can see both sides of each coin. Inflation or deflation? They will see a return over time.

Can you make a profit on a Gold IRA?

If you want to make money on an investment, you need to do two things firstly, understand how the market operates, and secondly, know what kind of products are available.

Trading is not a good idea if you don’t know what you need.

Find a broker that offers the best service to your account type.

There are many account options available, including Roth IRAs (standard IRAs) and Roth IRAs (Roth IRAs).

A rollover may be an option if you have other investments like stocks or bonds.

What is the best precious-metal to invest?

Gold is an investment that offers high returns on its capital. It protects against inflation, as well as other risks. The price of gold tends to rise as people become concerned about inflation.

Gold futures are a great idea. These contracts guarantee you will receive a certain amount of gold at a fixed price.

However, futures on gold aren't for everyone. Some prefer to have physical gold.

They can easily exchange their gold with other people. They can also trade it anytime they like.

Some people choose to not pay taxes on gold. People buy gold directly from the government in order to avoid paying taxes.

This will require you to make multiple trips to your local postal office. You will first need to convert any existing gold in coins or bars.

Then, you need to get a stamp on those coins or bars. Then, send them to the US Mint. They melt the bars and coins into new coins.

These bars and coins are stamped with the original stamps. These new coins and bars are legal tender.

The US Mint will not tax gold purchased directly.

So, which precious metal would you like to invest in?

What type of IRA is used for precious metals?

An Individual Retirement Account (IRA) is an investment vehicle most employers and financial institutions offer. A IRA is a way to make money and allow it to grow tax-deferred, until you withdraw it.

You can save taxes by setting up an IRA and then paying them off when you retire. This means that you can deposit more money into your retirement plan than have to pay taxes on it tomorrow.

An IRA is a great investment because your earnings and contributions are tax-free. You can withdraw funds at any time. Early withdrawals are subject to penalties.

After 50 you can still make contributions to your IRA. There is no penalty. You'll owe income tax and a 10% federal penalty if you withdraw from your IRA in retirement.

Withdrawals made before age 59 1/2 are subject to a 5% IRS penalty. There is a 3.4% penalty for withdrawals between the ages 70 1/2 and 59 1/2.

A 6.2% IRS penalty applies to withdrawals exceeding $10,000 per annum.

Is gold IRAs a good way to invest?

The best way to invest in gold is by buying shares in companies that mine for it. This is a good way to make money when you invest in gold and other precious metals like silver.

But, owning shares in direct form has two downsides:

First, you can lose money by holding onto your stock for too long. When stocks decline, they fall further than their underlying asset (like gold). This means that you might end up losing more money than you make.

Second, you may miss out on potential profits if you wait until the market recovers before selling. Therefore, you might need patience and wait for the market recovery before making any profit from your gold investments.

You can still enjoy the benefits of physical gold if your investments are separate from your finances. An IRA in gold can diversify your portfolio and protect you against inflation.

Visit our website to learn more about gold investment.

Statistics

• If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
• To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
• The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
• Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)

External Links

regalassets.com

• Regal Assets America's Best Provider Of Alternative Assets For Retirement Accounts
  

wsj.com

• How do you keep gold in your IRA? It's Not Exactly Legal
  

investopedia.com

• What are Options? Types, Spreads, Example and Risk Metrics
  
• Stock Market Crash 1987 Definition
  

kitco.com

• Live Gold Prices
  

How To

How to determine if a Gold IRA works for you

Individual Retirement account (IRA), is the most widely used type of retirement plan. IRAs can be obtained through banks, financial advisors, mutual funds, employers and banks. The IRS allows individuals up to $5,000 in annual contributions without tax consequences. This amount can be contributed to any IRA, regardless of your age. You can only put a certain amount into an IRA, but there are restrictions. For example, if your age is less than 591/2 years old, you can't contribute to a Roth IRA. Contributions must be made by those under 50 years old. Some people may also be eligible for matching contributions if they work for their employer.

There are two types: Roth and Traditional IRAs. A traditional IRA lets you invest in stocks, bonds, real estate, and other investments, while a Roth IRA lets you invest only in after-tax dollars. Roth IRA contributions aren't subject to tax on the amount they are received, but Roth IRA withdrawals will be. Some people combine both of these accounts. Each type of IRA has its pros and cons. So what should you consider before deciding which type of IRA works best for you? Three things to bear in mind before you decide which type of IRA is best for you:

Traditional IRA Pros

• The company can choose from different contribution options
• Employer match possible
• More than $5,000 in savings per person
• Tax-deferred growth up to withdrawal
• You may have income restrictions
• Maximum contribution limit for married couples is $5500 annually ($6,500 jointly).
• The minimum investment is 1000
• After the age of 70 1/2, mandatory distributions must be taken.
• You must be at the least five years of age to open an IRA
• Cannot transfer assets from IRAs

Roth IRA Pros

• Contributions are exempt from taxes
• Earnings can grow tax-free
• No minimum distribution required
• There are only a few investment options available: stocks, bonds and mutual funds.
• There is no maximum contribution limit
• There are no limitations on the ability to transfer assets between IRAs
• Age 55 or older to open an IRA

You should be aware that not every company offers the same IRAs. Some companies allow you to choose between a Roth IRA or a traditional IRA. Others offer the possibility to combine them. Noting that different types IRAs have different requirements, it's worth noting. Roth IRAs don't have a minimum capital requirement. Traditional IRAs only require a $1,000 minimum investment.

The bottom line

The most important factor when choosing an IRA is whether you plan to pay taxes immediately or later. If you are retiring within ten year, a traditional IRA could be the right option. Otherwise, a Roth IRA could be a better fit for you. However, it's always a good idea for you to talk with a professional regarding your retirement plans. It's important to have someone who is knowledgeable about the market and can suggest the best options for you.

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