Trump complains record stock market is only making ‘rich people richer’ Reuters


© Reuters. Republican presidential candidate and former U.S. President Donald Trump speaks during a rally in Reno, Nevada, U.S. December 17, 2023. REUTERS/Carlos Barria

By Tim Reid

Donald Trump, who predicted three years ago that the markets would crash if Democratic President Joe Biden won the White House in 2020, said Sunday that stock markets hitting record highs were only making “rich people richer.”

Trump, the front-runner for the 2024 Republican nomination, often took credit for the rising stock market when he was president from 2017 to 2021. Last week, Biden mocked him for wrongly predicting the crash when they ran against each other in 2020 campaign.

It hit a record high last week, surpassing 37,000, surpassing the previous record set in 2022. In a 2020 debate with Biden, Trump said that if Biden wins the election, “the stock market will crash.”

Biden defeated Trump in the 2020 election.

In an attempt to put a populist and anti-Biden spin on the new record stock market, Trump, a self-styled billionaire, told a crowd of supporters in Reno, Nevada: “The stock market makes rich people richer.”

When he turned to Biden, he changed the subject to high prices, a hallmark of Biden’s three years in office.

“Biden’s inflation disaster is destroying your savings and destroying your dreams,” Trump said as he looks ahead to a likely rematch with Biden in the November 2024 White House race.

Despite falling inflation in recent months, rising wages and low unemployment, Trump added: “We are a nation whose economy is going down the drain.”

Republican voters will begin selecting their 2024 White House standard-bearer on Jan. 15 in Iowa, a state that begins the nominating process.

Trump held a rally in Nevada where Republicans voted on February 8.

Trump enjoys a lead over his Republican rivals in state and national polls, despite his myriad legal troubles and more than 90 criminal charges brought against him this year.

But in a CBS News/YouGov poll released Sunday, one of Trump’s Republican rivals — former United Nations ambassador Nikki Haley — narrowed the gap against Trump in New Hampshire, another state that went to the polls on Jan. 23.

Trump has the support of 44% of likely Republican primary voters in the Granite State, while Haley has increased her support to 29%.

In a clear sign Trump sees Haley as his closest challenger for the nomination, rather than Florida Gov. Ron DeSantis, who has fallen in many polls throughout the year, Trump went after Haley in his speech in Nevada.

Referring to other polls where he has a larger lead over Haley, Trump said: “Nikki Haley – where’s the surge?”