Billionaire developer and potential presidential candidate Donald Trump predicts the price of gold will continue to climb because Americans have no confidence in President Barack Obama. In an exclusive interview with Newsmax.TV, he also warned that trouble looms for the U.S. economy.
“If oil prices are allowed to inflate and keep inflating, if the dollar keeps going down in value, I think there’s a very distinct possibility that things could get worse.”
But Trump said that he sees one bright spot in the still-struggling U.S. housing market — this is a great time for Americans to buy a house.
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Real estate mogul Donald Trump tells Newsmax in an exclusive interview why people will thank him in 10 years if they heed his advice to buy a house now. But the New York billionaire also addressed the credit crisis, saying that banks let us down and need to invest in people again.
“I can’t guarantee it, but I’m pretty sure this is right now a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to that interview with Donald Trump,’” he said in his exclusive Newsmax interview.
“The good news is you get a good price. The bad news, the banks aren’t there,” he said.
“The banks have really let us down. Number one, they did some bad things and caused some bad problems. Number two, if you have something that you want to buy, like a house, they’re generally not there for you,” he said. “So somebody has to get these banks moving.”
Turning to gold prices, Trumps tells Newsmax: “I think gold will go up as long as people don’t have confidence in our president and our country. And they don’t have confidence in our president.”
Trump also was asked about his fellow billionaire George Soros’ warning that economic conditions in the United States are likely to deteriorate. “I would say that he possibly is right,” Trump says.
A weak dollar “is not good because you’re going to pay $25 for a loaf of bread pretty soon. Look at what’s happening with our food prices. They’re going through the roof. We could end up being another Egypt. You could have riots in our streets also.”
Trump doesn’t think inflation poses the biggest threat to the economy. “I think the biggest threat is that our jobs are being stolen by other countries. We’re not going to have any jobs here pretty soon.”
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