Scanlon is a financial content creator who recently wrote in The New York Times on how working-class Americans mostly stand to lose as the US economy is almost ‘predatory’ for them and largely defined by froth. She believes the rich now always has a greater chance of winning with Trump’s tax cuts.
“Tariffs are being used like ‘poker chips’ and the stock market prices are now largely being driven by sentiment rather than fundamentals.” As per Scanlon, the public sector has stepped back as a stabilizer, and the private sector has rushed in as a gambler, putting the economy under pressure.
For the US economy, the OECD forecasts a slowdown to nearly 1.8% growth in 2025, a significant drop from levels in 2024. S&P Global indicates that a “below-trend” growth will persist through the end of the year.
“What he has ushered in instead is a casino economy, built on speculation and risk. Across markets and policy, wagers on the future are being made with other people’s money at a cost that could prove catastrophic,” said Scanlon.