Steve Hilton Quotes
We must not let the panicky Wall Street wheeler-dealers and the Trump-hating establishment state media talk us into a recession. We must keep the focus on the real economy, not the fake economy.
Hilton, Steve. "The Next Revolution." Fox News, 18 Aug. 2019.
The Stock Market went up slightly as a result of his efforts.
This may have been the worst stock market advice ever sent to customers. The Great Depression would suppress the economy of more than a decade.
Major bankers were not only clueless in the Meltdown of 2008 and the Great Recession that followed, but they were equally hapless in the Market Crash of 1929 and the Great Depression thereafter.
Born thought that her agency was responsible for regulating the new esoteric financial products—derivatives including credit default swaps—for otherwise there would be no regulation at all of financial products that could dwarf the stock and bond market. Summers persuaded her to back off. When the Meltdown of 2008 hit, the huge derivative exposure of the large banks and some insurance companies was so great that it was one of the major causes for the meltdown of the entire banking system. Summers, normally a great economist not only called this one wrong, but later, along with most other government and private economists ignored a very explicit warning—See {637168}, {637986}, and {620038}.
Steve Hilton is a British political commentator and former political adviser. He served as director of strategy for the British Prime Minister David Cameron from 2010 to 2012. Since 2017, Hilton has hosted The Next Revolution, a weekly current affairs show for Fox News. He is a proponent of what he calls "positive populism" and a vocal supporter of U.S. President Donald Trump. He was a co-founder of Crowdpac, but was fired as CEO in 2018 due to conflicting values with the company.