Hasan Minhaj Doesn't Know Is Another 1929 Crash Coming? with CNBC's Andrew Ross Sorkin
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Mar 25, 2026 
Andrew Ross Sorkin, New York Times columnist and author of 1929, explores Wall Street history, crises, and regulation. He discusses whether a major market crash is coming, AI's near-term impact on jobs, market concentration in big tech, private credit as a hidden risk, and how FOMO, media, and celebrity shape risky financial behavior.
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1920s Credit Revolution Created Retail Investors
- The 1920s normalized retail credit and margin buying, shifting American attitudes toward debt and rapid wealth.
- John Raskob's auto-financing and bankers lending to buy stocks created the first mass retail investor boom.
Wall Street Listened To An Astrologer In 1929
- Wall Street in 1929 even consulted astrologer Evangeline Adams, who charged $50/hour and had 100,000 newsletter subscribers.
- Traders treated astrology like market intelligence, showing how belief systems fueled speculation.
FOMO Converted Risk Averse Consumers Into Speculators
- FOMO and visible wealth in cities shifted conservative, debt-averse Americans toward fast-rich schemes.
- Sorkin links urban exposure, consumer goods, and the 'lottery ticket' American dream to rapid speculative behavior in the 1920s.
