What Happens if the U.S. Defaults? | The David Frum Show
In this episode of “The David Frum Show,” The Atlantic’s David Frum opens with his reaction to recent reporting surrounding the Trump family’s “patriotic,” Trump-branded cellphones. David explains how this is yet another instance of the most powerful sowing doubt about the fairness of American business and destroying confidence in the ideals of American enterprise.
Then, David is joined by Lloyd Blankfein, a former chairman and CEO of Goldman Sachs, for a wide-ranging conversation about the current state of the American economy. They discuss Blankfein’s new memoir, “Streetwise”; the expanding American debt; the American people’s faith in the economy; and the challenges that lie ahead.
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00:00 Introduction
00:44 Trump Phone Fiasco
02:27 Defending the Ideals of American Enterprise
05:27 Trump Era Deficits
08:14 Lloyd Blankfein
09:24 Economy Outlook
13:14 Markets and Gulf War Shock
15:55 Deficits Nobody Fixes
20:49 How America Defaults
24:20 Rates Housing and Crisis Trigger
29:03 Inflation Memories
30:27 Discipline Versus Spending
33:19 Targeted Tax Break Trap
35:43 Preparing For The Next Crisis
36:29 Deficit Worry And Polarization
39:13 Resentment Of Wealth
43:12 Generational Gloom Debate
50:02 Optimism About America
Then, David is joined by Lloyd Blankfein, a former chairman and CEO of Goldman Sachs, for a wide-ranging conversation about the current state of the American economy. They discuss Blankfein’s new memoir, “Streetwise”; the expanding American debt; the American people’s faith in the economy; and the challenges that lie ahead.
Sign up for David Frum’s newsletter alert to find out when a new story is published: https://www.theatlantic.com/author/david-frum/?follow=true&utm_campaign=frum-yt
Subscribe to “The David Frum Show” on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-david-frum-show/id1305908387
Subscribe to “The David Frum Show” on Spotify: https://open.spotify.com/show/79CBHEDdEbdykveVgbpWs7
Follow The Atlantic on Instagram: https://www.instagram.com/theatlantic/?hl=en
Get more from your favorite Atlantic voices when you subscribe. You’ll enjoy unlimited access to Pulitzer-winning journalism, from clear-eyed analysis and insight on breaking news to fascinating explorations of our world. Atlantic subscribers also get access to exclusive subscriber audio in Apple podcasts.
Subscribe today at https://accounts.theatlantic.com/products/?utm_medium=cr&utm_source=podcast&utm_campaign=apple_podcasts
Subscribe to The Atlantic on YouTube: http://bit.ly/subAtlanticYT
#davidfrum #thedavidfrumshow #theatlantic #economy #marketanalysis
00:00 Introduction
00:44 Trump Phone Fiasco
02:27 Defending the Ideals of American Enterprise
05:27 Trump Era Deficits
08:14 Lloyd Blankfein
09:24 Economy Outlook
13:14 Markets and Gulf War Shock
15:55 Deficits Nobody Fixes
20:49 How America Defaults
24:20 Rates Housing and Crisis Trigger
29:03 Inflation Memories
30:27 Discipline Versus Spending
33:19 Targeted Tax Break Trap
35:43 Preparing For The Next Crisis
36:29 Deficit Worry And Polarization
39:13 Resentment Of Wealth
43:12 Generational Gloom Debate
50:02 Optimism About America
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