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Is America the Next Big Short? With Michael Lewis

The David McWilliams Podcast

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Trust and Economic Turbulence

This chapter examines the critical role of trust in society and financial markets during Donald Trump's administration, citing a significant loss of $4.5 trillion in stock market value. The discussion contrasts historical economic contexts, particularly focusing on the Ming Dynasty's isolationist policies, and their detrimental effects on innovation and society. As skepticism in the markets grows regarding the administration's promises, the chapter raises concerns about potential financial crises fueled by confrontations with the Federal Reserve.

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