Financial journalist warns of similarities between stock market shares and Wall Street pre-1929 crash
After extensively researching the historic stock market crash of 1929, financial journalist Andrew Ross Sorkin is cautioning that today's Wall Street resembles the conditions preceding that massive slump which led to the Great Depression. He believes that artificial intelligence and technology have fueled a significant boom in recent times, but questions if this growth is sustainable or just a temporary boost. Sorkin predicts an inevitable crash in the market, although he cannot specify when or how severe it will be. Drawing parallels to the 1920s, he suggests that the current market feels overvalued and potentially unsustainable. Sorkin also expresses concern about the removal of some regulatory barriers that were put in place to protect investors, believing that these changes could lead to increased speculation and risk in the market. Despite some calls to open up investment opportunities to more people, Sorkin emphasizes the importance of maintaining safeguards in the market to prevent exploitation and financial instability.
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