CNBC’s Squawk Box co-anchor Andrew Ross Sorkin has predicted a market crash is coming while claiming many CEOs in America are “very scared” to criticize President Donald Trump.
“Most CEOs in America today are very scared to speak out publicly about anything,” Sorkin said in a recent 60 Minutes interview with correspondent Lesley Stahl, per Huffington Post. “They are so worried that they are going to be potentially attacked by the administration or regulated. They’re going to have a merger in front of some agency that’s not going to be allowed to go through.”
Over the past year, we’ve seen mergers between the likes of Paramount and Skydance, which required approval from the Trump administration. Some critics have claimed Paramount made moves to appease Trump, such as canceling The Late Show. Paramount’s puchase of Warner Bros. Discovery will also require regulatory approval from the Department of Justice.
Sorkin added, “They are so nervous about criticizing anything that’s going on with this administration.”
When Stahl asked Sorkin for his thoughts on economists who say Americans “should feel secure” because Trump “ties his success to the success of the market,” the CNBC host said, “I think it’s hard to know how things get out of control. When confidence disappears, it happens like this.”
Sorkin, who was on the show to promote his new book, 1929: Inside the Greatest Crash in Wall Street History — and How It Shattered a Nation, was asked whether the U.S. will ever face an economic crash like the one in 1929.
“The answer is, we will have a crash,” he replied. “I just can’t tell you when, and I can’t tell you how deep. But I can assure you, unfortunately, I wish I wasn’t saying this, we will have the crash.”
60 Minutes, Sundays, 7/6 c, CBS
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