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Trump Is a ‘Totem for Wealth.’ What Happens if the Economy Crashes?

August 9, 2025
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Trump Is a ‘Totem for Wealth.’ What Happens if the Economy Crashes?
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President Trump is destroying trust in public institutions, and there’s a reason for that, the Opinion columnist Jamelle Bouie tells the Opinion national politics writer Michelle Cottle and the contributing Opinion writer Steven Rattner on the episode of “The Opinions.”

Below is a transcript of an episode of “The Opinions.” We recommend listening to it in its original form for the full effect. You can do so using the player above or on the NYT Audio app, Apple, Spotify, Amazon Music, YouTube, iHeartRadio or wherever you get your podcasts.

The transcript has been lightly edited for length and clarity.

Michelle Cottle: The White House wrecking ball just keeps on swinging this summer as President Trump pursues his passion for undermining key American institutions.

Just the past couple of weeks, we’ve seen the White House fire the head of the Bureau of Labor Statistics, the agency responsible for providing unbiased info on the labor market, because the president was displeased with a jobs report.

Meanwhile, and this is my personal obsession, Republican state lawmakers in Texas, at Trump’s command, redrew the state’s congressional map to give the G.O.P. five more House seats.


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The post Trump Is a ‘Totem for Wealth.’ What Happens if the Economy Crashes? appeared first on New York Times.

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