dow BIGGEST drop ever- another trump record, page-15

This situation is so reminiscent of the 1920s. The overvalued market, disease crises, bullish attitude to taking on debt and making money in the market... Even the white nationalism.

So remember the Depression occurred over a long time through a series of crashes and failures. It wasn't just Wall Street crashing on one day. There's still time to go in another direction, but things have to be done differently.

This is why I harp on about financial regulation and fiscally conservative policies. Trump has come in and tried to repeal financial regulation for the sake of it, including Obama initiatives like the Dodd-Frank Act (and exempted some banks from it in 2018). These regulations prevent crashes and recessions and investors getting scammed - it's insane to repeal them.

And what about debt and deficit? It's out of control. Quoting the debt to GDP ratio in Trump's favour doesn't work - if the GDP goes towards recession, that ratio will soar very quickly, causing more alarm.

Governments have to govern. It's hard work, and developing good policy is hard work. This Trumpian idea that everything is a transaction is an illusion. The era for announcing a deal and putting a loyal good ole boy in charge before heading off to golf is over - it didn't work on "Celebrity Apprentice" and, in the long term, it doesn't work in the real world.