Posted on 09/29/2015 5:59:16 AM PDT by Helicondelta
Wall Street's most influential investor has some big ideas for fixing the world's largest economy
When the richest man on Wall Street talks about the markets, you have to listen. And Carl Icahn, the financier Donald Trump recently said he’d choose as his Treasury Secretary, is talking.
Icahn doesn’t really want the job. But in a video released Sept. 29, he sounds like a man with a well-considered plan for the office. In the spot, he offers up serious warnings about the financial bubbles brewing right now as well as advice for Fed chair Janet Yellen and the next President. There’s a lot to disagree with. But there are also some important truths. Here are the tenets of “the World According to Carl”:
An unprecedented period of low interest rates has created a high-yield bond bubble that’s about to burst. This is totally true, and very worrisome. “Janet Yellen should have raised rates a year ago,” Icahn told TIME in an interview. “But they really have to raise them now.” His argument centers on the fact that low rates have led corporations to raise record amounts of debt–a.k.a., junk bonds that could explode when interest rates eventually rise, creating a major market correction or even a crash. “When it blows, who’s going to buy that stuff? It will be just like 2008,” says Icahn
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Trump isn’t perfect, but according to Icahn, he’s better than the alternatives. “Right now, we need somebody strong in the White House who understands business,” he says. “Somebody like Teddy Roosevelt–he took on JP Morgan and won!” Icahn adds, in a barely veiled reference to the fact that JPMorgan’s current head, Jamie Dimon, was able to sneak in a roll back of derivatives regulation into the 2014 budget bill.
(Excerpt) Read more at time.com ...
This is what the Political Establishment on both sides fails to understand.
It not any one particular issue that has the voters pissed off. What has the voters scared and angry is this defiant, habitual, rabid, corrupt incompetence displayed daily by DC Beltway crowd.
“Wall Street’s most influential investor has some big ideas for fixing the world’s largest economy
When the richest man on Wall Street talks about the markets, you have to listen.”
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When exactly did Icahn pass Buffett on the list?
Sloppy writing and sloppier editing . . .
Icahn’s posted a 15 minute video on his website praising Trump, trashing politicians and CEO’s and warning of an impending market crash, probably centered around junk bonds.
A Populist IS going to be elected President of the United States.
Given that reality, Trump is likely a best-case scenario.
If not him it could easily be the Fake Indian. Or the second coming of Hitler.
He bought apple stock at $128 or higher when he dumped Netflix.
Apple is $109.06
So NO to him being in the Treasury!
Maybe they were using Wall Street in a more literal sense. Icahn lives in New York, whereas Buffet doesn’t.
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