Rubin Warns of Market Instability, Black Monday Parallels

Former Treasury Secretary Robert Rubin warns of potential market instability, drawing parallels to the Black Monday crash of 1987. He emphasizes the risks posed by the rising national debt, which is nearing 100% of GDP, double the historical average. Rubin suggests the debt-to-GDP ratio could reach 130-140%, impacting public investments, national security, and interest rates. He believes the ultimate consequences could echo the conditions leading up to the 1987 crash, urging market participants to take heed.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.