Posted on 02/06/2018 3:41:06 PM PST by blam
Billionaire investor Carl Icahn spoke to CNBC via telephone this morning and had some very ominous warnings after what he has seen in the last few days.
Reflecting on the markets moves recently, Icahn shocked the anchors by saying:
This is something weve never seen before I dont remember ever seeing a market with this kind of volatility over two weeks.
The market has become a much more dangerous place [due to index funds and ETFs] its like 2008 where everyone was buying mortgages and CDS.
Concluding that: Passive investing is the bubble right now.
There is going to be a major, major, major correction.
This is a manifestation of a real deep problem we have in our markets.
There is a huge bubble of passive money flowing in a sort of euphoria and a lot of people are going to pay the price just like in 1929.
Icahn then took his warning to 11
I do think the market will bounce back but these are the rumblings before the earthquake.
The market is telling you something its telling you its very dangerous its way over-leveraged.
Which, as we noted previously, is a fact
And that is one reason why Icahn fears
Eventually, theres going to be a bigger problem than 2009 and 1929, eventually. A major storm is coming, could be 5 years, could be 5 months.
Icahn ended by noting that no one can tell you what the market is going to do its almost farcical to think you can, but added that this is what he thought would happen, based in his research.
As a reminder, Icahn warned previously,
I am still concerned that one day youll see a break like you had a few weeks ago but it wont come back.
(snip)
(Excerpt) Read more at newzsentinel.com ...
As one who truly enjoys doom and gloom threads, the old stock market one is over done.
Sorry.
Turn those machines back on!
That is possible, what did you mean?
.
How’s this for a comment:
When people see the Clintons and Bushies in Levenworth the market will surge to 50,000!
.
The market is 25 trillian strong.
It was over-valued and money grab was priority one.
Does any astute Freeper know anything about his fund? It’s paying 10.45% dividend. IEP. Carl Icahn is a majority stockholder in it.
https://finance.yahoo.com/quote/IEP?p=IEP
I meant the more he ties in the Stock Market with his success, the more likely he will be falsely attacked if/when there is a major correction. It’s not a prudent thing to do. They will use anything and everything they can to attack him.
I agree 100% with your comment about exposing Soros and other Globalists. That would be wise to do.
I think he will eventually and pointedly address that.
Unlike 1929, taxes are low relative to that time and the industrialized world isnt consumed in trade wars so I dont see an earthquake coming unless you talking about the Middle Class throwing off its shackles.
Under his mattress.
The world is going to end! I cant tell you if it is in 5 seconds, 5 years, or 5 centuries, but remember to give me full credit when it happens.
Smoot Hawley affected trade, specifically imports, which amounted to a measly 1.5% of the entire economy in 1930. Imports were cut in half and so were exports which were 2% of the US economy, tiny. After Smoot 1% of the economy shrank. 1% that's it. 1% isn't even considered a recession. So you Free Traitor want to blame the entire depression on a 1% GDP shrinkage. What a joke. This why I have zero respect for so called economist. They are all full of BS.
Simply put Smoot Hawley is a lie and propaganda used by Free Traitors all the time.
Just once I wish one of you Free Traitors would do some research and look at the facts about Smoot Hawley and drop the brain dead mantra.
If you would bother to learn some facts you'd find out that trade in 1930 was 2% OF THE ENTIRE GDP so trade was not a factor in the Great Depression. It was a tiny portion of the economy so it could have a big impact.
Recession?! We had begun the greatest economic contraction in the history of capitalism 6 month prior. Smoot through gas on that fire and helped spread the contagion worldwide.
Listen idiot, trade was only 1% of the economy then. What’s so hard for you to understands? The economy contracted over 40% from 1929 to 1931 and you want to blame an obscure trade act that may have contributed 1/2% contraction? Are you f’ing retarded?
So of course, making it worse won't hurt! And the countries who couldn't sell into our economy anymore. What do you think they were doing in the 30s? Japan had no natural resources, only trade. Smoot blew a hole in the Jap economy. Jesus Christ, do you think WWII just materialized out of thin air?
That is complete BS, Japan was not dependent upon export to the United States prior to WWII. If anything they were dependent upon US exports to them.
Their most important export was silk. And we bought most of it. Smoot cut their silk export in half.
So, when the crash comes, will Icahn jump off the top floor of the Chrysler building?
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