Icahn: Republicans don’t understand economics and it’s killing the country Republican lawmakers are suffering from a near "pathological" misunderstanding of the national economy, and they may be hurting markets and Americans alike, billionaire investor and Donald Trump supporter Carl Icahn told CNBC on Thursday. Icahn, who Trump had previously suggested could serve as his Treasury secretary, warned that markets will have a "day of reckoning" without fiscal stimulus, and argued that the U.S. government "certainly could do more spending." "The Republican Party that I used to be more sympathetic with — I'm right in the middle now, although as you know I'm for Trump — but what I would say is Congress is in this massive gridlock," he said, explaining that the Republican-controlled body is "obsessed with this deficit to a point that I think it's almost pathological." The result of this gridlock and a lack of fiscal stimulus has been that theFederal Reserve has been forced to keep interest rates low, and that has created "tremendous bubbles" and "the wealth gap." Additionally, worrying about a deficit when there is no significant inflation and the dollar remains the global reserve currency is not a smart way to govern, Icahn said, adding that "a country is not a company." While a company would go bankrupt if it owed too much money, the same could not be said of the United States anytime soon, Icahn explained, reiterating that he can't "understand this obsession" that many Republican politicians have with the deficit. "They keep saying we owe all this money to China, but we're really not going to pay it back ever in a normal way," Icahn said. "So China decides 'I want my money back.' OK, well how do you want it back? You want dollar bills, you want Treasurys, what do you want?" That said, Icahn cautioned that he was not advocating for the government to "go crazy and borrow money and have money floating around and have rampant inflation."..." http://www.cnbc.com/2016/04/28/icah...nd-economics-and-its-killing-the-country.html
I don't know why Icahn is so surprised? How can you expect a people that want to take the country in nearly every way, back 100 years? Republican DeEvolution? Instead of studying economics and using big data to try to understand modern economics, they are sitting around studying Jesus and their disciples, wearing cowboy boots and a holster wishing for the gold old days. These are the same people that believe that HFGW is a Chinese hoax!
Is that the intolerant ignorant bigoted side of you coming out. http://www.nytimes.com/2010/04/15/us/politics/15poll.html Poll Finds Tea Party Backers Wealthier and More Educated http://www.ijreview.com/2013/10/874...tea-party-supporters-scientifically-literate/ Yale Professor’s Surprising Discovery: Tea Party Supporters More Scientifically Literate
Icahn gets his money from finance of course he would want more inflation and spending. he gets to pay back debt with cheaper dollars. he is just speaking his book and not necessarily wrong. However, it is a pretty significant point. Which I have been making for a year or 2 now. Why worry about govt debt... when the federal reserve electronically prints trillions of dollars on top of the deficit spending. The fed gets away with it because we are the reserve currency and its hard to measure. But it has caused 700 percent inflation over the last 50 years. Who got the benefit of those trillions being created? who got to spend it... what do they now own?
But nitro, the Bible and guns and those dogdamn Mooslims and gays. What about those? Plus like half our taxes go to pay for welfare for minority types like Mooslims and gays and those dark people. And then there's the UN which is trying to make us all commies under a single world flag.
It's been go along to get along on both sides of the aisle since Reagan and Tip O'Neill decided to make everyone happy and borrow the difference.
I wonder if Icahn would still consider borrowing if [overnight] IRs were, at say 3%? Sure, borrow like crazy at 0%, print money like crazy and pay back with shit dollars. It is a great deal for us and the suckers keep buying [although see below insurance companies post on how it isn't so simple]. The Chinese can't keep buying crap, so recently they have been buying real assets, like real estate and other high cash generating businesses with low risk. But you can't suggest the government stimulate by spending through more borrowing, and at the same time, suggest that IRs at zero are wrong, can you? Something has to give.
Near where I am living out in the suburbs, Asian companies specializing in health care are popping up like weeds. Smart. An aging population with congress in their pockets to keep health care costs among the highest in the world. We are so fucking stupid. If I were the Chinese and the Japanese etc, I would do exactly the same, start health care companies in the US, and the other rip-off of the American people, Insurance companies.
I was having a conversation with an insurance agent the other day. I told her that the insurance companies are crooks. I gave the example of how when I was a teenager, it costs $1200/Yr. to insure me. Today it costs $2400/Yr. for a teenager. That is 100% inflation! The same is mostly true across the board. She said the reason is that insurance companies used to make most of their profits by using premiums money to invest in very secure bonds, usually treasury bonds. Since the bonds are now yielding close to nothing, they are forced to raise premiums and gouge the American citizens. Nice.
Chicago and many other large cities are waging war on chronic homelessness. It seems to be working to some extent. LGBT goes against the bible thumping Geeesuhs lovers republicans like Cruz Welfare and social programs against the Tea Party republicans Mooslims, dark people etc seems to be the White Supremacists republicans UN and the commies, hmmm, all of them?