Posted on 03/09/2023 6:27:23 AM PST by Oldeconomybuyer
Billionaire investor, philanthropist and business leader Ken Langone called out the Federal Reserve under President Biden for not acting on raging inflation that’s hurting average Americans most.
"Let me say this to you about Joe Biden, in my opinion, and I'm going to be very, very direct: he thinks he's the smartest guy in the room," Langone said on "Mornings with Maria" Wednesday. "If that's the case, we're really in trouble, because the American people are a lot smarter than that."
Further assessing the macroeconomic picture, Langone – who also co-founded Home Depot – called the Fed under Powell a "gang that can’t shoot straight," arguing they got a late start on the fight against inflation.
"Frankly, they act like the gang that can't shoot straight because we should keep raising rates until we break it. Now, it's going to be some pain," the billionaire said. "Senator Warren, she talks out of both sides of her mouth. What she doesn't realize is the people who pay the most for inflation are the lower-income people. Inflation is the most regressive of all taxes ever."
At the same time, President Biden has proposed including a 5.2% wage raise for federal employees in his budget, which is expected to be released Thursday. Langone agreed that Biden doesn’t have any boundaries when it comes to spending.
"I don't know how you avert a serious financial crisis where we are right now, I don't have any idea how you do it," Langone said. "And now, it's more and more a distinct possibility."
He additionally echoed sentiments similar to market expert McDonald, that it’s a matter of time before a "big" market crash.
"My advice to people is own great companies, great managements, strong balance sheets, a history of periodically raising dividends – and go fishing."
(Excerpt) Read more at foxbusiness.com ...
Biden isn’t the smartest guy in the room even when he is the only guy in the room…
Saw him on Maria yesterday morning. He’s not a stranger to the Business channel & he’s always good
Haha
It's hard to get started on something if you won't admit there is a problem. Same for the millions freely crossing the border, the "secure" border.
Joe thinks Hunter is a really smart guy. Let’s look at his son:
Hunter ditched his first wife and kids as a drug addict and sex addicted person
Hunter banged his brothers wife before his brother died and then afterwards while Hunter was still married to his first wife
Hunter got a pole dancer pregnant, ran out on her and tried to keep from paying child support
Hunter left his laptop with all the cocaine pictures and shots with Ukrainian prostitutes
So, Joe isn’t a smart guy after.
No credibility whatsoever, dumbass (Langone)
“If that’s the case, we’re really in trouble, because the American people are a lot smarter than that.”
**************
If that’s true why do the American people keep electing buffoons who screw the country up?
Langone is no different than many other top businessmen. He’ll do whatever is in the companies best interest. He’s supported many democrats and democrat agendas, but now when those policies are tanking the economy, suddenly he knows better.
He thinks he’s the smartest guy in the room.
By all the statements he’s made and his actions proves he is living in a dream world filled with ego a good sign of stupidity.
They are deliberately stealing the value out from under our money to finance an extremely profitable orgy of mass murder. Of course they don't care. Collateral damage old boy.
HOORAY Ken Langone!
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