Former President Donald Trump has warned that the U.S. will suffer an economic collapse worse than the Great Depression of 1929 if he does not win the November 2024 presidential election. He described this grim scenario in a Dec. 30 post on Truth Social.

“The economy is terrible and inflation – which by some accounts is more than 30 percent over the last three years – has totally destroyed the buying power of the consumer,” he wrote. “The only thing that is keeping the economy ‘alive’ is the fumes that we accomplished during the Trump administration.”

“The stock market is only high because people and institutions believe and expect me to win the president election of 2024. If I don’t win, it is my prediction that we will have a stock market crash worse than that of 1929 – a ‘Great Depression.’ Make America Great Again.” (Related: Trump 100% confident HE WILL WIN against Biden in the 2024 presidential elections.)

He reiterated this prediction during an appearance on MSNBC. “The Biden administration is running on the fumes of the great Trump administration,” the former president said. “Without us, this thing would have reached to levels never seen before.”

“If we are not elected, we will have a depression the likes of which I don’t think anybody has ever seen; maybe 1929, that is what’s going to happen.”

According to Trump, the Biden administration’s official inflation statistics were underestimating the real figure by nearly half. This practice referenced an older method of measuring the economic phenomenon that placed it over 30 percent. Inflation surged to a 40-year high since incumbent President Joe Biden took office in 2021 with prices rising by about 17 percent, though that high has since declined.

The Great Depression of 1929 saw the stock market crash, kicking off an economic death spiral. The Dow Jones Industrial Average lost 89 percent of its value over three years, a slump it wouldn’t fully recover from until 20 years after – thanks to the U.S. economy’s post-World War II boom. The stock market crash was triggered by several factors, including rampant speculation and Federal Reserve rate hikes.

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