the stock market was up 90%,\u201d <\/a>Sorkin said.<\/p>\n\u201cI\u2019m anxious \u2014 I\u2019m anxious that we are at prices that may not feel sustainable. We are either living through some kind of remarkable boom \u2026 or everything\u2019s overpriced.\u201d<\/p>\n
When \u201c60 Minutes\u201d correspondent Lesley Stahl said, \u201cOr we\u2019re reliving\u2026,\u201d Sorkin added, \u201c1929.\u201d<\/p>\n
The stock market has delivered strong double-digit gains over the past year, with the S&P 500 up about 13% and the Dow Jones Industrial Average rising 9% through October. <\/p>\n<\/p>\n
Despite brief volatility tied to political and trade tensions, both indexes hit multiple record highs in 2025, led by surging technology stocks.<\/p>\n
Sorkin said that while technology and artificial intelligence are fueling legitimate innovation, the rush of investor money pouring into AI companies feels like a classic speculative bubble.<\/p>\n
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\u201cI think it\u2019s hard to say we\u2019re not in a bubble of some sort,\u201d he said.<\/p>\n
\u201cI would argue to you that the economy is being propped up almost artificially by the artificial intelligence boom.\u201d<\/p>\n
The journalist, who has covered financial markets for two decades, said he sees unsettling parallels between today\u2019s economy and the debt-fueled speculation that preceded the 1929 crash. 10.14.97<\/p>\n
According to Sorkin, hundreds of billions of dollars are being invested today in artificial intelligence. <\/p>\n
\u201cThis is either a gold rush or a sugar rush \u2014 and we probably won\u2019t know for a couple of years which one it is,\u201d he said.<\/p>\n<\/p>\n
The journalist, who has covered financial markets for two decades, said he sees unsettling parallels between today\u2019s economy and the debt-fueled speculation that preceded the 1929 crash.<\/p>\n
Back then, he noted, ordinary Americans were drawn into the market through easy credit and promises of \u201cdemocratized\u201d access to wealth.<\/p>\n
Sorkin cited the Trump administration\u2019s deregulation policies as one of the factors that could contribute to a potential crash. AP<\/p>\n
Sorkin said modern investors are being tempted in similar ways \u2014 through private markets, venture capital, and lightly regulated startups where risk is disguised as opportunity.<\/p>\n
\u201cIt\u2019s not that we\u2019re going off a cliff tomorrow,\u201d Sorkin said. \u201cIt\u2019s that there\u2019s speculation in the market today. There\u2019s an increasing amount of debt in the market today.\u201d<\/p>\n
Sorkin added that \u201cover the last 20 or 30 years, folks who had access \u2014 who could invest in private equity and venture capital \u2014 clearly outperformed those who didn\u2019t.\u201d<\/p>\n
He warned that the post-1929 protections designed to prevent mass speculation \u2014 such as SEC disclosure rules and consumer protection agencies \u2014 are \u201ctumbling down.\u201d<\/p>\n
\u201cThe Consumer Protection Bureau practically doesn\u2019t exist anymore. That\u2019s what concerns me,\u201d Sorkin said.<\/p>\n
Sorkin is the author of a new book about the 1929 crash. It goes on sale on Tuesday. Penguin Publishing Group<\/p>\n
Sorkin said the drive to \u201cdemocratize\u201d investing \u2014 by opening riskier private markets to small investors \u2014 could backfire.<\/p>\n
\u201cThere\u2019s a view that it\u2019s been only the elites who\u2019ve had access to these investments \u2014 Facebook before it went public, Uber before it went public,\u201d he said.<\/p>\n
\u201cThere\u2019s a real push, partially by the Trump administration and partially by the industry itself which wants to get more money in, to open up the market to more and more people,\u201d Sorkin said. <\/p>\n
While the \u201cguardrails\u201d have protected \u201ca lot of people,\u201d some would say \u201cthey protected people from getting rich,\u201d Sorkin said.<\/p>\n
The Post has sought comment from the White House.<\/p>\n","protected":false},"excerpt":{"rendered":"Wall Street may be heading toward a 1929-style stock market crash \u2014 as inflated share prices, speculative bubbles…\n","protected":false},"author":3,"featured_media":300689,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[15327,64,15328,26871,42851,79,398,2437,67,132,68],"class_list":{"0":"post-300688","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-60-minutes","9":"tag-business","10":"tag-cbs","11":"tag-cbs-news","12":"tag-cnbc","13":"tag-economy","14":"tag-media","15":"tag-stock-market","16":"tag-united-states","17":"tag-unitedstates","18":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/300688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=300688"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/300688\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/300689"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=300688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=300688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=300688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}