What Happens if the U.S. Defaults?
5/13/202656 min
In this episode of “The David Frum Show,” The Atlantic’s David Frum opens with his reaction to recent reporting surrounding the Trump family’s “patriotic,” Trump-branded cellphones. David explains how this is yet another instance of the most powerful sowing doubt about the fairness of American business and destroying confidence in the ideals of American enterprise. Then, David is joined by Lloyd Blankfein, a former chairman and CEO of Goldman Sachs, for a wide-ranging conversation about the current state of the American economy. They discuss Blankfein’s new memoir, “Streetwise”; the expanding American debt; the American people’s faith in the economy; and the challenges that lie ahead. Sign up for David Frum’s newsletter alert. Get more from your favorite Atlantic voices when you subscribe. You’ll enjoy unlimited access to Pulitzer-winning journalism, from clear-eyed analysis and insight on breaking news to fascinating explorations of our world. Atlantic subscribers also get access to exclusive subscriber audio in Apple Podcasts. Subscribe today at TheAtlantic.com/Listener. Learn more about your ad choices. Visit megaphone.fm/adchoices
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David Frum· Host0:31
[ on-hold music] Hello and welcome to The David Frum Show. My guest this week will be Lloyd Blankfein, the former CEO of Goldman Sachs. We, as an experiment, recorded the program face-to-face in New York City, and I'm speaking to you, as you will see, not from my usual set, but from The Atlantic offices in New York City. Because we will be discussing at some length Lloyd Blankfein's memoir, Streetwise, there'll be no other book segment this week. Instead, I'll open with some preliminary thoughts about American business and American government as it relates to the conversation I had with Lloyd Blankfein. Last year, the Trump Organization licensed a Florida company to sell a Trump-band-branded mobile phone. The promised phone would be encased in gold and carry an American flag on the back. The