Trump Acknowledges Possible Recession, Downplays Stock Market Concerns

Former President Signals ‘Period of Transition’ Amid Economic Uncertainty

In a recent Fox News interview, Donald Trump admitted that a recession may be on the horizon, a notable shift from his past predictions of economic catastrophe under Biden and Harris. While he hesitated to make a definitive statement, he linked his policies to potential economic disruptions, describing it as a “period of transition.”

“I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing. It takes a little time.”

A Stark Contrast to Past Predictions

Trump’s acknowledgment is in sharp contrast to his previous warnings about the U.S. economy under Biden, where he frequently predicted a stock market collapse and a devastating recession similar to the Great Depression of 1929. Now, facing questions about economic slowdowns, his tone has shifted, with a focus on long-term gains rather than immediate concerns.

“I think it should be great for us. I mean, I think it should be great.”

This shift suggests that Trump is preparing for economic turbulence, while attempting to frame it as a necessary step toward economic recovery under his leadership.

Trump Downplays Stock Market Decline

When asked about recent stock market struggles, Trump dismissed concerns, despite previously using market highs as a key indicator of his presidency’s success.

“You can’t really watch the stock market. If you look at China, they have a hundred-year perspective.”

This marks a departure from his past rhetoric, where he often boasted about market highs and took credit for gains. Now, as markets fluctuate, he is shifting the focus to long-term stability rather than short-term performance.

Trump Hints at DOJ Action Against Law Firms

In a striking moment, Trump suggested that his administration would take legal action against certain law firms he believes acted dishonestly. He specifically mentioned Perkins Coie, the firm linked to the Steele dossier, and hinted at broader actions against legal entities he deems corrupt.

“We have a lot of law firms that we’re going to be going after because they were very dishonest people.”

The idea of a president using the Department of Justice to target law firms raises serious legal and ethical concerns, potentially signaling a weaponization of federal power against political opponents.

Trump’s ‘$5 Million for Citizenship’ Proposal Raises Questions

Trump also discussed a controversial proposal to sell U.S. citizenship for $5 million, an idea that has drawn criticism and skepticism. When asked whether China could exploit such a system, he did not rule it out, responding:

“They may, but they don’t have to do that. They can do it in other ways.”

Critics have called the plan a dangerous precedent, warning that it could lead to foreign influence over American policies and create a pay-to-play system for citizenship.

What’s Next?

With Trump acknowledging economic uncertainty, preparing for legal battles, and proposing unconventional policies, the political landscape remains unpredictable. His shifting stance on the economy suggests that he expects turbulence, but aims to frame it as a necessary step for long-term growth.

As the 2024 election season heats up, Trump’s economic messaging will likely be a key battleground, with both supporters and critics closely watching his next moves.

Stay tuned for further updates on this developing story.