Trump: I wouldn't want to be a president like Hoover; Iran conflict could cause economic catastrophe

Donald Trump declared he would never want to emulate former U.S. President Herbert Hoover, whom he accused of causing the Great Depression through rapid tax and interest rate hikes in 1929. "He was always the one I didn't want to be," Trump said during a press conference at the G7 summit.

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He was always the one I didn't want to be.

Trump also warned that ongoing conflicts between the United States and Iran could trigger a "major economic catastrophe." He noted that the stock market consistently surged whenever peace talks were discussed, suggesting its inherent intelligence. "Whatever people like better or worse, the stock market is smarter than anyone else, including the people in this field besides me, of course," he remarked.

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If the conflicts of the United States with Iran continue, it could cause an 'economic catastrophe'.

Reflecting on his predecessors, Trump stated he had studied them well, finding some good and others "really bad." He reiterated his aversion to being like Hoover, emphasizing his intention to avoid similar economic missteps. The comments came as nations reached a peace agreement over the weekend, with a signing ceremony anticipated soon.

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The only thing I know is that every time we talked about the possibility of peace, the stock market shot up like a rocket. It never went down.