Intelligence Squared Trump, Markets and The Greatest Crash in U.S. History, with Andrew Ross Sorkin (Part Two)
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Dec 3, 2025 
Join Andrew Ross Sorkin, a New York Times columnist and CNBC presenter, as he delves into the parallels between the 1929 crash and today's market. He discusses the dangers of inflated AI investments and the long-term value of infrastructure compared to tech manias. Sorkin draws insightful comparisons between historical figures and today's leaders, explores potential political fallout from a market crash, and warns against the risks of private equity valuations. Plus, he reflects on why nostalgia for the gold standard could lead to disaster.
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Tariffs Recast As Security Policy
- Tariffs are being reframed as national security tools, making them politically durable and hard to reverse even if harmful long-term.
AI Spending Masks Flat Growth
- Much of current U.S. GDP growth is driven by AI-related spending, masking otherwise flat economic performance.
Jesse Livermore’s Self-Destructive Cycle
- Jesse Livermore made fortunes shorting the market but repeatedly lost them and ultimately killed himself due to lack of discipline.