Trump sees country headed for ‘very massive recession’

Bloomberg

Republican presidential candidate Donald Trump says the U.S. is headed for a “very massive recession” and that’s it’s a “terrible time right now” to invest in the stock market, according to an interview with the Washington Post.
Unemployment is much higher than official figures suggest, Trump said in the interview conducted on Thursday and published on Saturday. His comments contrast with official data released on Friday that show the jobless rate crept up to 5 percent in March.
U.S. unemployment is not at 5 percent and is probably “into the 20s if you look at the real number,” he said in the interview. The 5 percent was a number devised “to make politicians — and in particular presidents — look good,” Trump said, according to the Post.
Trump said he would be able to get rid of the nation’s national debt “over a period of eight years,” according to the report.
The Standard & Poor’s 500 Index rose on Friday after the strong jobs report bolstered confidence in the world’s largest economy. U.S. stocks joined equities around the world in a March rebound as central banks from Asia to Europe and America signaled they stand ready to bolster flagging growth. I think we’re sitting on an economic bubble — a financial bubble, Trump told the newspaper.