Trump says that maintaining war could have generated economic catastrophe in the US

President Donald Trump stated this Wednesday (17) that the continuation of the war with Iran could have had serious economic repercussions.

He pointed out at a press conference that he did not want to become "the late, great Herbert Hoover", president of the USA during the New York Stock Exchange crash of 1929, which triggered the Great Depression.

"So the one thing I didn't want to see was an economic catastrophe. If we had gone through with that, it could have happened," Trump said at the G7 summit.

"But all I know is that every time we talked about the possibility of peace, the stock market took off like a rocket. It never crashed. If people didn't like it, well, the stock market is brighter than anyone here, including the people on this stage, with the exception of me, of course," he added.

"That says something," he concluded.

Trump added that he studied past presidents and "the only one I didn't want to be was the late, great Herbert Hoover. I didn't want that. And who knows what would have happened."

"So instead of possibly going into a depression, instead of having my favorite president being Herbert Hoover, it was always the one I didn't want to be," he commented.

He said Hoover caused the historic stock market crash of 1929.

"He raised taxes too fast and raised interest rates too fast, all at the same time. And that caused the Great Depression. So I don't think I'll make mistakes like that," Trump claimed.

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Source: CNN