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You're doing. Hey, everybody, welcome to Pod Save America. I'm John Lovett. I just sat down with Andrew Ross Sorkin. He is a CNBC host, New York Times,

columnist. He also has a new book that's actually really great, called 1929 about the stock market

crash and great depression and a lot of really fascinating and relevant stories from that era.

We talked about business leaders bending the knee to Trump. We talked about bubbles and tariffs and the morality of capitalism. We talked about business leaders bending the knee to Trump. We talked about bubbles and tariffs and

the morality of capitalism. We talked about the business community's response to Zoran Mamdani.

It was a great conversation. And he's somebody that is often talking directly with business

leaders, with a lot of really influential voices, and has a really

great perspective on it. Here it is.

Andrew, first of all, welcome to Pod Save America. Good to see you. So great to see you. This is so

exciting for me. I'll take you a little bit behind the scenes, which is I was excited to talk to you and I was excited about the book. But then you have to read the book. And to be honest, I was like, oh, fuck, that's soon. I got to read this book. I really got sucked into it. It's a really good book. Thank you. Thank you. So I want to talk about five things. I want to talk about bubbles. I want to talk about presidential power. I want to talk about tariffs, national mood. I don't talk about the morality of capitalism. Capitalism, socialism. Sure. So let's start with bubbles. Yeah. It's the 1920s. Yes. People are seeing this boom and they're nervous about it. Yeah.

There had been a bubble and burst in living memory, right? In the 1890s, there had been a big

speculative crash. A lot of people are around that remembered it. Before the crash, can you

talk about what some of the Cassandra's were saying, including people like Carter Glass.

So look, in the 1920s, and I don't know if people appreciated this, this was, I would even

argue, the first time that people really were playing the market, like that the ordinary

...