Trump says Biden win will cause depression, “biggest headwind” for economy

A Biden winning is a disaster for the economy, President Trump told Fox News “Hannity” Thursday.

Not only would a Joe Biden presidency get rid of the Second Amendment and raise taxes, the president said, it would also cause economic depression.

“You could forget about the Second Amendment if we lose this election,” he said. “And your taxes will be doubled, tripled and quadrupled. Your jobs will disappear. I mean, you’re gonna have a depression, if that happens … The biggest headwind [to the stock market] it is if he entered.

Despite these statements, Biden did not announce his intention to change the Second Amendment. The Democratic candidate is in favor of overturning Trump’s tax cuts, which have mainly benefited the rich and big business.

BIDEN’S PLAN TO FIGHT CORONAVIRUS

Democratic presidential candidate former Vice President Joe Biden speaks during a campaign event with his running mate Sen. Kamala Harris, D-Calif., At Alexis Dupont High School in Wilmington, Del., on Wednesday August 12, 2020 (AP Photo / Carolyn Kaster)

When Trump was first elected, he said the stock market had gone up “like a rocket.” But if Biden won, the economy would collapse and 401 (k) would take a 40-50% drop.

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“Everything you talk about is going to kill our country and kill the economy,” he said.

Although stocks have risen from their March lows, the United States is currently in the midst of an economic slowdown with more than 30 million Americans receiving some form of unemployment benefits as of the end of July.

Trump mentioned that Biden’s competence could be of concern when it comes to foreign leaders like Chinese Xi Jinping and Russian Vladimir Putin, who are all “very sharp.”

“If you’re not at the top of your game, it won’t be a pretty picture,” he said. “It’s like chess masters. And if you’re not a chess grandmaster, you’re going to have a problem. “

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