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Trump Criticizes Soaring Stock Market as Benefit for the Wealthy

By Ysa Panganiban Share with new partner:   Share
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Aiming for the GOP nomination in 2024, Trump attacked President Biden’s policies at a rally in Nevada and denounced historic stock highs, saying they benefit the wealthy.

In contrast to his prior claims suggesting that a Biden administration would lead to market collapse, Trump currently contends that the thriving stock market predominantly favors the wealthy.

Trump, who previously took credit for a rising market during his tenure, faced ridicule from Biden after his forecast of a market crash following Biden’s victory did not materialize.

The Dow Jones Industrial Average soared to new heights last week, surpassing 37,000 and marking an all-time high, a stark contrast to Trump’s 2020 debate claim that a Biden win would precipitate a market crash.

Seeking to align the market’s success with anti-Biden sentiment, Trump shifted focus to inflation, a significant concern during Biden’s administration, accusing it of eroding savings and hindering aspirations. 

Trump’s Criticism of Haley Signals Shift

trump-criticizes-soaring-stock-market-as-benefit-for-the-wealthy
Aiming for the GOP nomination in 2024, Trump attacked President Biden’s policies at a rally in Nevada and denounced historic stock highs, saying they benefit the wealthy.

Despite recent decreases in inflation, wage increases, and low unemployment rates, Trump painted a bleak economic picture, asserting the nation’s economy was deteriorating.

As the 2024 White House contest looms and the Iowa caucuses approach on Jan. 15, where Republican voters commence the selection process, Trump holds a substantial lead over other contenders in both state and national polls. 

However, former United Nations Ambassador Nikki Haley has made strides in New Hampshire, reducing the gap between her and Trump.

This shift in polling dynamics prompted Trump to direct criticism toward Haley during his Nevada rally, signaling a potential shift in his perceived primary opponent from Florida Governor Ron DeSantis, who has faced declining support throughout the year.

Despite facing numerous legal challenges and over 90 criminal charges this year, Trump remains a dominant force within the Republican Party, shaping the narrative and gearing up for a potential rematch against President Biden in the 2024 election.

Ysa Panganiban
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