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Trump said that because of record low interest rates from the Fed, the country's economy is "in a big, fat, ugly bubble," with debt increasing while the "only thing that looks good is the stock market." Thus when interest rates increase, the bubble would burst and the stock market would crash.
"I did, but I got out," Trump replied. He warned of "very scary scenarios" ahead for investors.
This isn't the first time Trump has advised Americans to steer clear of stocks. In October of last year, he told The Hill that the stock market is in a bubble. The stock market has gone up more than 6% since he made those comments.
"The only reason the stock market is where it is, is because you get free money," Trump said.
Trump slammed America's central bank -- the Federal Reserve -- for keeping interest rates at extremely low levels. People can borrow money at cheap rates. Meanwhile, they earn almost nothing if they save money in the bank. This encourages people to take risks.
Donald J. Trump ✔ @realDonaldTrump
The #FakeNews MSM doesn't report the great economic news since Election Day. #DOW up 16%. #NASDAQ up 19.5%. Drilling & energy sector...
2:22 PM - 11 Jun 2017
originally posted by: alomaha
a reply to: SpeakerofTruth
I am not talking about that, I am just saying that he was warning people about something and now he is cheering up and celebrating that same thing that he was warning about! As he would say: "Crazy! "
I sort of hope that happens because then people like me would go in and buy