Money Makers

Folklore holds that the great stock market crash of October 1929 pushed the world into  depression. There's some truth in that. Still, had the financial foundations in the United States and elsewhere been robust, the sharp sell-off in the market would likely have been bearable. But the fundamentals were shaky and all hell broke lose. Herein lies a lesson for investors pondering the potential impact of any future slump. Although an immediate crisis in financial markets may have been avoided with Trump's enforced and partial policy retreat on his one for all tariffs, the threat to US financial m...

Although an immediate crisis in financial markets may have been avoided with Trump's enforced and partial policy retreat on his one for all tariffs, the threat to US financial markets remains, says financial historian Edward Chancellor, author of a definitive history of past speculative excesses, from the South Sea Bubble onwards, and a brilliant recent book, The Price of Time, about the folly of sustained low interest rates. An earlier version of this article first appeared on the online financial website, Reuters Breakingviews, and is reproduced with the author's permission.  

Donald Trump ...