Donald Trump: The Economic Boom in America is a 'Bubble'

Donald Trump, one of the Republican candidates for the U.S. presidency, expressed doubts about the health of the American economy on Tuesday, February 25, stating that the current boom is a bubble and that if he becomes president, he does not want to face a recession and economic collapse. According to Reuters, Trump, a billionaire and owner of large construction and real estate companies, said that if he wins this year's presidential election, managing the American economy alongside the nuclear agreement with Iran will be among his most challenging tasks. In an interview with ABC News, he said, 'The issue of the American economy is a very difficult task, and we currently have deep economic problems, and the country is in disarray. We are going through a bubble period, and honestly, if this bubble is going to burst, I would prefer it to happen before my presidency begins. I do not want to inherit all these problems. I would prefer that the situation be clarified before the election, not after it.' Employment growth in America has been very good recently, and the latest government statistics show that the unemployment rate has remained at around five percent, the lowest level in the past seven years. Job growth is usually considered an important indicator for the labor market. The annual growth rate of the American economy is currently two percent, but there have been signs of weakness in the manufacturing and industrial sectors recently. It should be noted that the significant drop in oil prices and the slowdown in China's economic growth have cast a shadow over the future of the global economy. The value of stocks in most global stock markets has decreased due to the recent state of the Chinese economy and its rising debt. Donald Trump, who is currently ahead of other Republican presidential candidates, also mentioned in another part of his interview, 'Look at the stock market indicators today or over the past week. Stock prices have been declining.' In November, Trump accused the U.S. Federal Reserve of keeping interest rates low to help advance Barack Obama's policies. He claimed that raising interest rates would burst the current economic bubble. Barack Obama began his first term in January 2009 at the peak of the biggest economic crisis in recent decades. His administration was forced to rescue many financial institutions and manufacturing companies from bankruptcy and spent hundreds of billions of dollars to stimulate and revive the economy.