Why have CEOs been so eager to bend the knee? How are tariffs actually affecting the economy? Is the next major financial crisis already underway? New York Times financial columnist Andrew Ross Sorkin stops by the studio to talk to Lovett about our weird economy under Trump 2.0. They discuss big business's refusal to stand up to Trump, the prospect of a crypto-crash big enough to tank the U.S. economy, and why this moment is eerily similar to the stock market crash that kicked off the Great Depression, which Sorkin writes about in his new book 1929: Inside the Greatest Crash in Wall Street History and How It Shattered a Nation.For a closed-captioned version of this episode, click here. For a transcript of this episode, please email [email protected] and include the name of the podcast. Get tickets to CROOKED CON November 6-7 in Washington, D.C at http://crookedcon.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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Stop settling and start building the career you actually want. Hey, everybody. Welcome to Pod Save America. I'm John Lovett. I just sat down with Andrew Ross Sorkin. He is a CNBC host, New York Times columnist. He also has a new book that's actually really great called 1929 about the stock market crash and Great Depression and a lot of really fascinating and relevant stories from that era.
We talked about business leaders bending the knee to Trump. We talked about bubbles and tariffs and and the morality of capitalism. We talked about the business community's response to Zoran Mamdani. It was a great conversation. And he's somebody that is often talking directly with business leaders, with a lot of really influential voices and has a really great perspective on it. Here it is.
Andrew, first of all, welcome to Pod Save America. Good to see you. So great to see you. This is so exciting for me. I'll take you a little bit behind the scenes, which is, I was excited to talk to you and I was excited about the book, but then you have to read the book. And to be honest, I was like, ah, fuck, that's soon. I got to read this book. I really got sucked into it. Oh, God bless you.
It's a really good book. Thank you. Thank you. So I want to talk about five things. I want to talk about bubbles. I want to talk about presidential power. I want to talk about tariffs. national mood. I don't talk about the morality of capitalism. Capitalism, socialism. Sure. So let's start with bubbles. Yeah. It's the 1920s. Yes. People are seeing this boom and they're nervous about it. Yeah.
There had been a bubble and burst in living memory, right? In the 1890s, there had been a big speculative crash. A lot of people are around that remembered it. Yep. Before the crash, can you talk about what some of the Cassandras were saying, including people like Carter Glass?
So look, in the 1920s – and I don't know if people appreciated this. This was, I would even argue, the first time that people really were playing the market, like that the ordinary person was doing this because it was the first time that –
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