Money Rehab with Nicole Lapin Are We Back to 2008? With The Big Short's Steve Eisman
Apr 11, 2025
Steve Eisman, the investor who foresaw the 2008 financial crisis and was portrayed by Steve Carell, joins the conversation. He delves into whether we're on the brink of a similar downturn, revealing insights on current market volatility and trade war impacts. Eisman compares today’s economic landscape with 2008, discussing the psychological effects of investment decisions and the importance of accurate data interpretation. He also shares strategies for navigating high mortgage rates and offers career advice for those facing uncertain times.
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Impact of Free Trade
- Free trade policies, while intended to boost GDP and jobs, have negatively impacted communities.
- Steve Eisman points out that some workers lost not just jobs but their livelihoods, without retraining opportunities.
US Trade Advantage
- The US is uniquely positioned to renegotiate trade terms due to its low reliance on exports (11% of GDP).
- Other countries, like China and European nations, are far more dependent on exports, making them more willing to negotiate.
Eisman's '07 Fears vs. Now
- Subprime mortgages were a major concern for Eisman in '07.
- He contrasts that to the sovereign debt discussions, about which he is less concerned right now.