"A centerpiece of Trump’s economic project so far has been a flurry of financial deregulation that makes economic shocks and disasters distinctly more likely. Trump has announced plans to dismantle Dodd-Frank, the most substantive piece of legislation introduced after the 2008 banking collapse. Dodd-Frank wasn’t tough enough, but its absence will liberate Wall Street to go wild blowing new bubbles, which will inevitably burst, creating new economic shocks. Trump and his team are not unaware of this, they are simply unconcerned — the profits from those market bubbles are too tantalizing. Besides, they know that since the banks were never broken up, they are still too big to fail, which means that if it all comes crashing down, they will be bailed out again, just like in 2008. (In fact, Trump issued an executive order calling for a review of the specific part of Dodd-Frank designed to prevent taxpayers from being stuck with the bill for another such bailout — an ominous sign, especially with so many former Goldman executives making White House policy.) Some members of the administration surely also see a few coveted policy options opening up in the wake of a good market shock or two. During the campaign, Trump courted voters by promising not to touch Social Security or Medicare. But that may well be untenable, given the deep tax cuts on the way (and the fictional math beneath the claims that they will pay for themselves). His proposed budget already begins the attack on Social Security and an economic crisis would give Trump a handy excuse to abandon those promises altogether. In the midst of a moment being sold to the public as economic Armageddon, Betsy DeVos might even have a shot at realizing her dream of replacing public schools with a system based on vouchers and charters."