Andrew Ross Sorkin Warns 1929-Style Market Crash Will Come on CBS Interview
Updated
Updated · HuffPost · May 25
Andrew Ross Sorkin Warns 1929-Style Market Crash Will Come on CBS Interview
6 articles · Updated · HuffPost · May 25
Andrew Ross Sorkin said on CBS's "60 Minutes" that a market crash "will" happen, though he said he cannot predict when it will hit or how severe it will be.
The CNBC anchor tied that warning to collapsing confidence, saying market turmoil can spiral quickly once investors lose faith.
Top U.S. CEOs are "very scared" to criticize President Donald Trump publicly, Sorkin said, because they fear retaliation through regulation or blocked mergers.
Lesley Stahl pressed him on whether Trump's focus on market performance should reassure investors, but Sorkin pointed instead to the lessons of 1929, the subject of his latest book.
With top CEOs reportedly 'very scared' of retaliation, is the stock market ignoring a ticking time bomb?
As experts warn of a crash while key indicators rise, are we witnessing the calm before an economic storm?