Screen grab.Posted on 03/02/2013 6:22:13 PM PST by SeekAndFind
Screen grab.
Noted hedge fund manager Stan Druckenmiller, 59, on Friday warned that the U.S. economy is headed for a “storm” that could prove to be far worse than the financial meltdown of 2008.
But first, if you’re not familiar with his name, here’s what you need to know: He’s one of the most respected and successful hedge fund managers in the past 30 years.
Obviously, you don’t achieve that type of success (or notoriety) on Wall Street by running your mouth. That being said, if Druckenmiller, a former partner of billionaire liberal philanthropist George Soros, is predicting serious economic trouble for the U.S., perhaps we should listen.
“I see a storm coming, maybe bigger than the storm we had in 2008, 2010. And really, the reason could happen without people looking as for a lot of similar reasons that we could get into,” he said during an interview with Bloomberg TV’s Stephanie Ruhle.
“But the basic story is, the demographic bubble I was looking at way back in ’94 that started in 2011, we are right at the first ramp-up of this thing that is about to hit,” he added.
His comments were made during a larger discussion on the dangers Social Security, Medicare Medicaid, and unfunded liabilities as high as $211 trillion, pose to future generations.
“I think people like me and others need to speak out. It’s about the future, not about the present where the problem is,” he said.
“While everybody is focusing on the here and now, there’s a much, much bigger storm that’s about to hit,” he added. “I am not against seniors. What I am against is current seniors stealing from future seniors.”
Watch the Bloomberg TV interview here.
However, if it’s any consolation, Druckenmiller isn’t totally without hope. Indeed, he actually thinks the U.S. has a chance of turning this ship around.
“With the proper education and with proper voices out there, we could have 40 million kids marching down to Washington,” he said.
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I absolutely do not trust a word this socialist scumbag says.
Proper education and with proper voices out there... I'm still laughing... gonna take a while to stop laughing. Ha-ha! Is the MSM going away?
This is just about where they lost me.
By the way...when did Fascist become "liberal"?
I believe that has been dated to 1912.
He’s talking about the revolt the younger generations will wage when the tire of paying so much for the older retirees. He’s right.
They did say “former” partner....wonder why they are no longer partners?
The next chapter of the ongoing saga named Obama Drama!
Current seniors stealing from future seniors? Who implemented the programs? Liberals. So why doesn’t he say current government stealing from future taxpayers?
Yeah, he's talking about older retirees getting back at least some of the money they dumped down the government toilet their whole working lives instead of talking about food stamps, welfare, WIC, the ballooning SSDI scam, Section 8 Housing, hordes of illegal aliens and their "anchor babies", "free" this and "free" that for the Democrat party's base of moochers, and all the rest of the government's waste, fraud, and corruption. Yeah. Let's lay it all at the feet of "older retirees". This guy is a Soros crony, so you know he's a socialist scumbag.
And by the way, he's wrong.
Post of the day.
It is criminal that the backbone of this country, the Great Generation, is being targeted they way they are.
SS is a problem for the future, yes, but that's not the biggest problem right now. We're headed for an unbelievable bond market crash because of all the money printing. It's going to hit us soon - not later.
This guy must be a commie leftist (pitting young against old because the elderly are using up all the vote buying money). If he were to be truly honest, he'd be going after oboma and the Federal Reserve big time right now instead. He'd be ringing bells and blowing whistles. We're about to get seriously nailed by these two.
>>>This guy is a Soros crony, so you know he’s a socialist scumbag.
Wasn’t Jimmy Rogers a former partner? Roger’s not a socialist scum bag. Soros is also on record bad-mouthing Rogers.
What he is has no bearing on if what he is saying is correct or not
The left is blaming it on those who cannot defend themselves. No way are they going to admit their mistakes. They never do.
The only reason the market is doing so well is the feds monopoly money. They're printing money and buying up securities.
This economy we're seeing right now is not real. Social programs for able bodied freeloaders and Obomas massive wasteful spending sprees have broke the bank. There's going to be an economic hit so big - the politicians will be walking around in a daze. You'll see them standing around in shock with they're mouths hanging open in disbelief. It's all going to come crashing down so fast, everyone is going to freak.
It can't be stopped, but cutting the size of government drastically now will at least make the crash a little less devastating.
And in my opinion--which was accurate about several market declines--I would add that this market is well beyond its underlying fundamentals.
Markets rest on fundamentals/substance. Those that do not are bound to fall.
Substance in our complicated world is, well, complicated...but substance is still substance.
And this market is based on BullSh!it.
Really???
Care to explain that?
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