It’s not every day that world-renowned personalities and leaders make apocalyptic statements regarding the United States and global economy. That is why when one of these individuals does it should be making headlines. Although the latest warning hasn’t exactly made international news, it has been making the rounds.
Speaking in a recent interview with Fox News, real estate billionaire mogul Donald Trump warned that the U.S. is on the brink of “financial ruin” and is on the path of a Greece-like collapse because of its immense debt levels. He conceded that the U.S. is no longer a prosperous nation as it once was.
“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished,” explained Trump. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”
Aside from enormous debt figures and its eroding credit, the unemployment rate, which he says isn’t the real number, is another problem that needs to be addressed. Trump argues that the real jobless rate is around 16 percent – possibly even more than 20 percent.
“Right now, frankly, the country isn’t doing well,” Trump noted. “Recession may be a nice word.”