A segment from Sunday night’s ’60 Minutes’ episode implied that the U.S. might be in for another stock market crash under President Donald Trump.
During the segment, in which host Lesley Stahl spoke to CNBC’s Andrew Ross Sorkin about his upcoming book on the stock market crash of the 1920s, it was implied that the record highs of today’s market under President Donald Trump could spell bad news.
“The crazy part about this is, from 1928 to September of 1929, the stock market was up 90%,” Sorkin explained.
“When you say the stock market was way up, immediately I think of now. Are you scared?” Stahl probed, making her suggestion quite obvious.
“I’m anxious. I’m anxious that we are at prices that may not feel sustainable. And what I don’t know is we are either living through some kind of remarkable boom and part of that’s artificial intelligence and technology and all of that, or everything’s overpriced,” the CNBC co-anchor admitted.
“Or we’re reliving–” Stahl said, before Sorkin interrupted.
“1929,” he confirmed, which is also the title of his book. He also noted that he firmly believes a crash will happen, but does not know when or how disastrous it will be, and suggested that leaders in the business sector are too afraid to signal their concerns to Trump.
“They are so worried that they are going to be potentially attacked by the administration or regulated. They’re gonna have a merger in front of some agency that’s not gonna be allowed to go through. They are so nervous about criticizing anything that’s going on with this administration,” Sorkin said.
The stock market has reached new highs under Trump, despite fears over his use of tariffs to secure his America First agenda on the global stage.
X users weighed in on the segment:
I can’t tell you how many times I’ve heard something or other compared to the time just before the 1929 crash. It’s almost as predictable as each year someone claiming it to be the year that Christ is coming back.
— Russ Hjelm (@russ_hjelm) October 13, 2025
It’s always a bad analogy. History rhymes, it doesn’t repeat. 1929 was a combination of things that just aren’t able to exist again because of how the market, banks and regulations work since. 29′ was first and foremost a bank run combined with massive speculative bubble.
— Stuck (@StuckonPandora) October 13, 2025
Seriously? CBS. Continuous Bull Shit.
— Shushu (@Shushu7637) October 13, 2025
Yall have shit for brains
No one is doing this fear shit anymore
We don’t care
— QB is old but slings it, Line is improving (@rizzosarge) October 13, 2025
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Sierra Marlee is a millennial whose hunger for the truth in a world of fake news has led her to BizPac Review.
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