Bad economy, President Joe Biden loses; good economy, former President Donald Trump wins.
That was the theory Trump provided followers Wednesday in a nuanced Truth Social analysis of the effect his presidential election campaign has had, and will have, on the stock market.
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"The only reason the Stock Market is high is because I am leading in all of the Polls," Trump declared. "I don’t win, we will have a CRASH of similar proportions to 1929."
Trump of course was threatening readers with the prospect of another Black Thursday, the stock market crash that heralded the onset of the Great Depression.
The former president's basis for this claim is a Bloomberg News interview with one of his key backers, Scott Bessent, a George Soros protégé who told the news outlet this week he believed recent stock market rallies proved investor confidence in Trump.
"Thank you to Scott Bessent, one of the Great Prognosticators on Wall Street!" Trump wrote.
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Bessent's recent foray into the conservative publishing industry saw him immediately sued and criticized for failing to disclose financial ties to the Democrat billionaire, according to a Washington Post report from March.
Trump often attacks Biden on financial grounds topics, condemning "Bidenomics" policies that include the Bipartisan Infrastructure Deal of 2021 and the Inflation Reduction Act of 2022.
For his part, Biden says his administration is responsible for more than $860 billion in business investments, forgiveness for $153 billion in student loan debt for nearly 4.3 million people, and record job development in key swing states such as Georgia.
At a recent campaign stop in Wisconsin, Biden reminded voters of a development deal Trump promised the state that never materialized.
"They dug a hole with those golden shovels," Biden said, "and then they fell into it."
