John Rubino – Which Way is Up?
John Rubino joined us today for a look at Trumpian Economics and Trumpian America. Making America great again is all well and good. But there’s a number of problems standing in the way of that lofty goal, $20 trillion of them. How will Trump handle the debt? Is there anything he can really do? Where are we heading?
The opaque derivatives market is the problem. Once something gets moving through this market it will be almost impossible to stop. The daisy-chain of interconnectedness is on such a scale that a handful of derivatives could set the banking system ablaze. When you are talking about $700+ trillion of “financial instruments” going belly up the whole world has a problem.