Major investor and real estate tycoon explained to Greta von Susteren yesterday why the stock market continued to fall on Wednesday, the worst post-election day in history, what Bush did wrong during his term, and why the economic crisis will become worse in the coming months, possibly causing a recession reminiscent of the Great Depression.

“It has been a total disaster,” Trump said about the bailout plan. “The banks are not funding deals, the banks are really… a lot of money has been put into the banks, billions and billions of dollars, but they are not funding deals. It’s terrible.”

“It’s scary,” Trump went on to say, “people are doing things they have never done before, they’re experimenting. It’s all one big experiment and nobody knows how the experiment is going to end. The banks were pumped up with money, but they are not loaning the money because if you have a prime deal, whether it’s real estate or any other deal and go to a bank, no matter how strong you are, you cannot borrow ten cents. I’ll tell you Grete, this could lead to something very, very bad for the country and for the world.”

The real estate tycoon then went on to explain what president-elect Barack Obama will have to do when he takes office. “What he’s gotta do is he’s got to get the banks to liquefy the system. There’s no money in the system, everyone is hording their money, the government is giving billions and billions of dollars to the banks and they use it to buy other banks. I guess they are using it to clean up their balance sheets but they are not using it to loan the people to go out and do deals.”

“I’m not blaming anybody,” Trump said, “I’m just saying that this entire concept of liquefying the banks is not working because the banks are essentially not loaning the money.”

“Jobs are being stopped all over the country, buildings are stopped all over the country, deals aren’t able to be made, deals that were committed to are unable to be made, banks commit to deals and then don’t make them, they break the deals, they break their commitment: it’s a very serious problem, the likes of which we have not seen since 1929,” the clearly agitated, frustrated and possibly fearful Trump said.

“I’m serious, you should be studying 1929 Greta, because that’s what it’s starting to look like.”

Asked how we got into this mess, Trump said: “they loaned the money to the wrong people.”

He then repeated that the main problem is that banks are not using the money they received from the federal government to “make deals.” “The money isn’t coming out,” he said, “it’s not being put to work.”

“That’s why on Friday you’re going to see unemployment numbers that are going to make your head spin,” he concluded.

Watch it: