Financial crises

2019 could be worst year for economy since '08

Illustration: Lazaro Gamio/Axios

A wide swath of market-watchers expect the U.S. economy in 2019 to be the worst since the depths of the 2008 financial crisis, potentially putting President Trump in a hole as he heads into his re-election race.

Flashback: A year ago, we wrote about a rare and enviable trend: synchronized global recovery. Now, we have synchronized global retreat.

How the financial crisis eroded public trust

Wall Street bull statue
Photo: Erik McGregor/Pacific Press/LightRocket via Getty Images

Back in September, Axios published a special report on the 2008 financial crash. As part of it, we asked nine U.S. economic and financial experts to name the greatest fallout.

Their most frequent answer: The loss of public trust and the conspiratorial and paranoid thinking that has surged into politics since. Adam Tooze, author of “Crashed: How a Decade of Financial Crises Changed the World,” agrees. When Tooze, a Columbia history professor, observes the political upheaval in the U.S. and Europe, he sees the continuing reverberations of the crash and the oblivious financial elite that was supposed to have policed the system, writes Christopher Leonard, author of the forthcoming "Kochland."

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