Steve Rattner: No Way to Run a Railroad (Let Alone the World Economy)

Impolitic with John Heilemann

Audacy | Puck

News, Politics

4.8 • 4.2K Ratings

🗓️ 14 April 2025

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

John is joined by longtime Wall Street eminence and former “car czar” Steve Rattner to discuss the impact of Donald Trump’s tariff jihad on global financial markets and the American economy. Rattner explains why the theory of the case animating Trump’s protectionist agenda is “disjointed,” “illogical,” and “incoherent,” and its execution has been even worse; why the reputational damage the U.S. is suffering as a result among its allies around the world will be difficult to undo; why the claims by Trump’s advisers that last week’s abrupt policy shifts were all part of some master plan are ludicrous on their face; and why the endgame of the full-scale trade war now underway with China is impossible to foresee. Rattner also assesses the degree of fiscal irresponsibility Republican budget plan making its way through Congress—and whether the chickens may finally be about to come home to roost when it comes to America's unprecedented debt and deficits. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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1:06.9	Aloha and namaste everyone and welcome to Impolitic with John Heilman, a puck and Odyssey Joint,
1:12.5	featuring lively and in-depth conversations with the people who roam the corridors of power and influence in America,
1:18.5	weaving the warp and wharf and weft of our politics and culture.
1:22.7	Thanks to Donald Trump and his chat GPT enabled tariff jihad.
1:29.2	Last week was a walk on the wild side in the financial markets.
1:32.7	One of the most volatile, volcanic, tumultuous, tempestuous five-day spans for stocks and bonds
1:38.1	and currencies that we have ever seen.
1:41.3	What happened across those five days and more importantly what happens next is a story that
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