Ron Paul: ‘A 50% pullback is conceivable’, not Donald Trump’s fault

The United States stock market is in a big, fat bubble. Whether it is the social media sector or the biotech side, there are many bubbles forming on the New York Stock Exchange, but don’t tell that to some investors.

Many contrarian investors see a crash in the short-term. One prominent individual thinks a 50 percent correction is feasible.

Speaking in an interview with CNBC, former Texas Republican Congressman and three-time presidential candidate Ron Paul warned that an immense plunge is likely to happen in the stock market, adding that President Donald Trump should not take the entire blame.

“A 50 percent pullback is conceivable. I don’t believe it’s 10 years off. I don’t even believe it’s a year off,” he said.

“It’s all man-made. It’s not the fault of Donald Trump in the last week. If the market crashes tomorrow and we have a great depression, he didn’t do it in six months. It took more like six or 10 years to cause all these problems that we’re facing.”

He ended with this great statement:

“I see the foundation of our system built on sand, and a big wind comes along to blow it down.”

Although President Trump has taken credit for the record highs on Wall Street and for the creation of one million jobs this year, he ultimately sets himself up as the fall guy for when things go awry. Thanks to the Federal Reserve printing press and easy money policies, the unemployment situation improved, stocks hit all-time highs and the overall economy improved on a faulty foundation.

What happens when the money supply moderates, inflation surges, interest rates spike and the economy collapses? In theory, President Trump should not take the full blame, but he will, and this will cause the left to say, “See! Free market capitalists like Donald Trump destroy lives!”

And most people should realize that the president is definitely not a proponent of free market capitalism.

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