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Carl Icahn Says Market "Way Overpriced", Warns "God Knows Where This Is Going"
To be sure, no one ever accused Carl Icahn of being shy and earlier this year he had a very candid sitdown with Larry Fink at whom Icahn leveled quite a bit of sharp (if good natured) criticism related to BlackRock’s role in creating the conditions that could end up conspiring to cause a meltdown in illiquid corporate credit markets. Still, talking one’s book speaking one’s mind is one thing, while making a video that might as well be called “The Sky Is Falling” is another and amusingly that is precisely what Carl Icahn has done.
Over the course of 15 minutes, Icahn lays out his concerns about many of the issues we’ve been warning about for years and while none of what he says will come as a surprise (especially to those who frequent these pages), the video, called “Danger Ahead”, is probably worth your time as it does a fairly good job of summarizing how the various risk factors work to reinforce one another on the way to setting the stage for a meltdown. Here’s a list of Icahn’s concerns:
- Low rates and asset bubbles: Fed policy in the wake of the dot com collapse helped fuel the housing bubble and given what we know about how monetary policy is affecting the financial cycle (i.e. creating larger and larger booms and busts) we might fairly say that the Fed has become the bubble blower extraordinaire. See the price tag attached to Picasso’s Women of Algiers (Version O) for proof of this.
- Herding behavior: The quest for yield is pushing investors into risk in a frantic hunt for yield in an environment where risk free assets yield at best an inflation adjusted zero and at worst have a negative carrying cost.
- Financial engineering: Icahn is supposedly concerned about the myopia displayed by corporate management teams who are of course issuing massive amounts of debt to fund EPS-inflating buybacks as well as M&A. We have of course been warning about debt fueled buybacks all year and make no mistake, there’s something a bit ironic about Carl Icahn criticizing companies for short-term thinking and buybacks as he hasn’t exactly been quiet about his opinion with regard to Apple’s buyback program (he does add that healthy companies with lots of cash should repurchases shares).
- Fake earnings: Companies are being deceptive about their bottom lines.
- Ineffective leadership: Congress has demonstrated a remarkable inability to do what it was elected to do (i.e. legislate). To fix this we need someone in The White House who can help break intractable legislative stalemates.
- Corporate taxes are too high: Inversions are costing the US jobs.
Here’s more from Reuters:
Billionaire investor activist Carl Icahn ramped up criticism of the U.S. Federal Reserve, warning about the unintended consequences of ultra low interest rates on the economy and financial markets.
"They don't understand the treacherous path they are going down," Icahn said in an interview with Reuters, in which he also declared his support for Donald Trump as a candidate to be the next U.S. president.
"God knows where this is going. It's very dangerous and could be disastrous," said Icahn, who has been a consistent critic of the Fed for keeping its benchmark interest rate close to zero since late 2008.
Icahn said he felt compelled to raise red flags about the state of the financial markets because he believes if more big investors had warned about subprime mortgage market in 2007, the United States might have avoided the crisis that strangled the economy the following year.
In a video entitled "Danger Ahead" and released on Tuesday, Icahn said the Fed's rate policy had enabled U.S. chief executives - many of whom he describes as "nice but mediocre guys" – to pursue "financial engineering" that he said has exacerbated an already wide gap between rich and poor in America.
Icahn, who slammed money managers who benefit from the so-called "carried interest" loophole under which their earnings are taxed as capital gains rather than ordinary wage income, also endorsed Donald Trump's presidential bid.
Trump unveiled a tax plan on Monday that he said would eliminate the loophole.
"Those guys who run these companies are borrowing money very cheaply, leveraging up their companies, using it to do two things … They are going in and they are buying back stock or even worse, making stupid takeovers," said Icahn, adding some recent acquisitions have been done at a too high a price.
Much of this debt is bought via exchange-traded funds, a popular vehicle for trading baskets of bonds and stocks.
Icahn said retail investors had a false sense of security about how easy it would be to sell their holdings of such debt if the market turns.
"It's like a movie theater and somebody yells fire. There is only one little exit door," he said. "The exit door is fine when things are OK but when they yell fire, they can't get through the exit door … and there's nobody to buy those junk bonds."
Ultimately what Icahn has done is put the pieces together for anyone who might have been struggling to understand how it all fits together and how the multiple dynamics at play serve to feed off one another to pyramid risk on top of risk. Put differently: one more very "serious" person is now shouting about any and all of the things Zero Hedge readers have been keenly aware of for years.
Full video below.
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One request: Let it crash while Obama's still in office. I just want to be able to say "Obama's fault" for the next 15 years.
Boehner is going to get a lot done in his last 30 days.....heaven help us all.
The old bugger just wants to be the next fed chair when yellen quits for some sort of health reasons. Make this another jew after yellen, bernanke amd greenspan.
I'm invoking the Johnny Cash clause here.......infinity.
https://www.youtube.com/watch?v=eJlN9jdQFSc
No mention of front running your own tweets
Shocked
I guess it was not overpriced 2000 points ago.
ICAHN'S SHORT THE MARKET!!!!!!
ICAHN'S SHORT THE MARKET!!!!!!
Go kick his ass.....double dog dare you.
would you let this guy babysit your kids?
Seems like irrelevant question....which network do you work for?
Please let it be CNN.
Wait a Minute!!! You mean an American who is born to American parents in a foreign country has to pay American taxes, even though he/she doesnt live or work or go to school in America, thats ok for Carl Icahn, but American companies that offshore their labour should not pay American Corporate tax rates??!! Sorry but I dont buy that. If you want to set the record straight start by first allowing Americans who live outside the country the right to not be taxed by the IRS. Clear that criminal and nonrepresentative tax and then we can talk about whatever else ails you Mr Ichan.
Lots of hypotheticals in there......keep going....you're on a roll.
To ISRAEL! The market is getting Israel'd!
Clear that criminal and nonrepresentative tax and then we can talk about whatever else ails you Mr Ichan.
Amen. I hate the US Congress more than I do Goldman Sachs, Obama, Bush ...
THEY ARE THE ONES WE PAY TO PROTECT THE CITIZENS OF OUR GREAT COUNTRY.
We have been betrayed.
When are you going to pull the trigger and blow your brains out?
I think what he meant by that was that he was going to steal everything that's not nailed down and lay tracks for his new job as an influence peddler when he goes into the private sector. Probably looking at office space on K Street this morning.
That's got to be what he means, because I don't know anybody who is willing to put their political careers at risk signing on to the agenda of an immensely unpopular, lame-duck congressional leader.
Since when do you spell "scumbag" L E A D E R. You may want to take some more English classes at the re-education camp. If you sit next to me I'll let you look at my paper.
I meant "leader" not leader. My bad.
You forgot to do ALL the "what if's", at your own peril I might add, it's no big deal, just keep partying on until the end.
Corzine and Ichan's heads would make an awesome set of almost identical matching bookends, only problem is most taxidermists refuse to work with vermin.
Add in the FED heads and we can play Croquet.
Carl Icahn made his fortune as a greenmailer, which means he shook down corporations and caused those big businesses to lay off employees to come up with the money to pay Icahn's greenmail. Icahn and his ilk set the stage for the current 15 year economic disaster (since 2000), where greedy CEOs boosted their compensation by laying off thousands of employees in the name of efficiency, then these CEOs cashed out their now much more valuable stock options. The USA economy is run by liars like Icahn.
And he says "I love this country"
if he were in China he would be arrested for trying to crash the market.
He is trying to take Trump down by endorsing him...hahahaha
There are words for that, corporate raiders.
'How many f---ing Jews do these people think there are in the United States?'
— Ann Coulter (@AnnCoulter) September 17, 2015
Coulter knows this number is low, like 2%, and comprises mostly loyal Democrat bloc-voters, thus this tweet. There was excessive pandering to Israel going on and not enough insistence on saving the Republic from demographic transformation into a third world hell hole with the voters and values our immigration practices bring in. It's a numbers game.
the hilarious thing is that almost all jews vote. so from a voting perspective they are like 4% since most other bloc voting ethnicities have very low voting numbers because of their bigger size ( black hispanic 'white' whatever....)
also , she was referencing the israel language used by politicians, which she attributed to evangelicals which comprise a larger number than jews. so it really is being taken out of context.
Yeah he would sell a goy for a penny but now he's concerned about the markets. Don't think he's short the market do you? The tribe worship at the alter of materialism and now realize they r killing the golden goose. I just don't understand why they've been persecuted thru history lol
He took an 8% position in FCX a month ago.
Gobbled up Cheniere Energy, Inc. too
https://www.google.com/search?q=Cheniere+Energy+stock+chart&ie=utf-8&oe=...
trav7777
''The reality is that this group of "tight kinship" aka clan nepotism has gotten rich lending what they did not have. Look at our banking system now...$50T of Z1 credit outstanding...does ANYONE believe that the banks who lent this mass of money ever really HAD $50T in capital to actually lend?
Debtmoney is a ponzi, and emerging recognition of that provokes the hostility. Fractional lending at compound interest has gotten people lynched because it really IS earning via parasitism.''
http://www.zerohedge.com/article/watch-niall-fergusons-lecture-empires-verge-chaos
.
There are thousands of ex-eastern airline employees that would slit his throat and not miss a beat in a conversation with them. He destroyed many people on his climb to richdom.
Icahn is nothing but an opportunist. He works within the framework created by our overbearing government and fake "money".
He didn't cause anything. He is the symptom of the failed interventions by the central planners. They caused the loss of jobs, the stealing of the wealth and the borrowing forwrd of future growth to be spent on Obama phones, EBT cards and trillions of other bullshit government spending.
The rest is cover to hide the truth of what they have done to us. Blaming Icahn is a red herring, and those responsible for the perils we face wish you to keep jumpong on the scapegoats. It might save their hide.
"No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money."
Luke 16:13
Another scumbag yelling "The ship is sinking!!!" after he helped drill the holes in the bottom of the boat? Hopefully the guillotine blade is still sharp enough when it's Carl's turn.
? ? "He's a walking contradiction, partly truth and partly fiction, taking every wrong direction, on his lonely way back home." ? ? And getting his daughter a paycheck for producing a video! :-)
That could serve well to explain why Icahn et al claim to be completely clueless of Amb. Wanta ..
https://app.box.com/s/hfgvcqg7gqh7i27at6sv53ywu87lwarp
To further claim (as he et al will have to at some point in history) that he was well informed of The Wanta Plan (how could he not be, the entire G7/G20 was informed) but chose to ignore it as insignificant, points to him further as simply one of the most stupid individuals on the planet, OR one of the most sinister ..
http://wantarevelations.com/2014/01/wanta-plan-macro-financial-economic-...
http://www.veteranstoday.com/2015/01/02/wanta-plan-must-be-deployed-now/
Yet what if you only HAD 15 days?, now it becomes your fault and you don't even know why.
I want it to really start to crash a few days before new swear-in and continue after so I can say "look bitches, don't matter whose in office,. its your own fault for playing into a game you don't understand and refuse to believe the rules are stacked against you".
Lots of fun comments. Addressing what? I'm not sure?
Earnings are collapsing because:
Demand has collapsed
There are much fewer bodies to lay off to help earnings
Demand has collapsed
Pricing increases diminishing demand
Demand has collapsed
One request: Let it crash while Obama's still in office. I just want to be able to say "Obama's fault" for the next 15 years.
And this is exactly why Yellen and her Keynesian crew will do ANYTHING to prop markets up until Obola is out of office. Mission Accomplished regarless of the mess it leaves for the next president.
You may have discovered the reason for Jeb! to be ushered into the nomination by the TPTB and media. "Bush's fault" works well for those who want to finish off the Constitution for good. Obama being a key actor of that ilk.
Yellen is laughing at carl at this moment..carl talking about markets, Yellen I am god there are no markets without ME...and sadly she is right.
C'mon Carl - we all know interest rate cuts, federal deficits, QE, etc. have been substituted for slowing growth (driven by decelerating population growth in the US and declining populations elsewhere). This is why the Fed and CB's have taken over and won't allow an honest market....because an honest market would find true valuaions.
links for those who care to know why all this is happening...
http://seekingalpha.com/article/3538366-u-s-economic-recoveries-in-perspective-and-why-this-is-the-worst
http://seekingalpha.com/article/3522366-demographics-the-real-opponent-the-fed-has-been-fighting-for-decades
"because an honest market would find true valuaions"
That.
And I don't think anyone would really want to see what the true valuations would be. Nobody cares if it's manipulated as long as its manipulated in the right direction.
'True Valuations"? No such thing anymore. That's what keeping interest rates at zero does. It creates huge distortions in the pricing of assets because discounted future cash flows shoots current value to infinity assuming an ongoing business. Just wait until NIRP. We will have a rocketing stock and bond market as people that actually have liquid assets scramble to get out of banks.
I can't wait.
Last time I checked Yellen couldn't make it thru a 45 minute speech in front of a bunch of her idiot worshippers. She knows what's coming and their is little to nothing she can do.
Scooby thinks that Carl never thought they'd go full retard and get stuck in infinite QE so Carl will sustain major damage if this market goes higher.
Remember the reports back in 2012 that claimed Carl exited equities on the long side?
Nice movie, what is it about a new yowk accent that makes people sound stoopid'r than they really are?
Probably only laughing out of one side of her mouth at the moment though in fairness
I am one of those star children and my call has always been 2015 meltdown. We don't have till thanksgiving. It's just about that time the banks pack up shop and let the FDIC sort it out
Umm ok, good luck with that call.
If the Fed ever normalizes rates, would ZH blink out of existence?
A question for which I am quite certain we'll never have discover the answer.
Bernanke: "No rate normalization in my lifetime."
When was the last time we were running a trillion dollar deficit and raised rates? They might be a private scam independant of the United States, but they still want the 4 trillion or whatever we owe them so bankrupting and overthrowing the US government probably won't happen.
ironically a rise in the ffr would probably cause an inverted curve with rates on the long end heading south. moar ironically primary dealers just happen to be holding a bunch of USTs they bought from china which they would like to sell at a profit. (did i just make a tinfoil hat argument for the demise of my own long standing zirp 4evah thesis?)
And if he died today, rates could normalize tomorrow, yet are you prepared for normalization? I think not.
Somebody help me out here. If the FED has 4 Trillion in debt instruments on it's books and then raises rates, what happens to the valuation of that debt and does that in any way impact the capitalization of the FED?
It does nothing to the old debt, that is locked in at those rates. It does though make the new debt more expensive, and since we can't stop borrowing, the future debt (if there were a future) would spiral out of control like a hangover which never goes away, because the patient simply can't stop drinking. If the patient were to stop drinking (or acquiring debt) the problem goes away.
If the fed raises rates, the value of all the bonds they bought would decrease because any new bonds issued would be at higher rates (making them more attractive to investors (why get payed 2% when I can get 3%)). Because the fed bought bonds paying lower rates, the price of the bonds they purchased has to decrease (only way to get someone to buy that 2% bond instead of 3% bond). Hopefully that illustrates the price/yield relationship for you.
The second part of your question regarding capitalization of the fed..say all 4 trillion dollars worth of bonds were worthless Tom (they raised rates to 5%). They are only worthless in the sense that no one would buy them from the fed (because there are bonds yielding 5% in the market compared to the 1% yield then fed owns)..they would still collect monthly payments on those low yielding bonds. This is assuming the gov could afford to make payments (not possible if all new gov debt was 5% interest).
Hope this helps
Time to End
The Federal Reserve System
So the tribe is backing Trump?
I did not know the Cleaveland Indians gave political endorsements.....
OH, YOU MEAN THE SOCIALIST JEWS .....
VOTE FOR WHOMEVER THE SOCIALIST JEW MEDIA ATTACKS THE MOST....which would be Trump.
Pull out the big guns and just use the C word.........are you a man or a mouse?
??? I'm a little slow today I guess
exactly!
Icahn is still sore over what happened to his Navistar.
Scooby's voting for Trump and so are you!
The MSM is besides themselves......and I'm laughing my ass off.
Meanwhile Rand Paul is polling at 1%......I blame John McCain for that.....his powers are beyond your understanding.
Evil....for lack of a better word......just works sometimes.
Embrace the suck MSM.....you caused it.
Rand is definitely polling higher than he should be People must think he its Ron that is running.... Rand is just another shitstain Ziocon.
Well he is McConnell's flunky.......you're got a good eye......and that gets you one buckeye.
A couple of us saw that Rand.....we know what you did. You could have walked that back at any moment....but you didn't
Sorry....no second chances.....not now.
he said has exacerbated an already wide gap between rich and poor in America
The consummate insider who has fucked millions is complaining about the wealth gap? How much did you make manipulating Apple stock?
This Insider Trading Investigation Of Carl Icahn Is A Jokehttp://www.businessinsider.com/this-insider-trading-investigation-of-car...
If I read between the lines, I think what he's really afraid of is that they've taken it too far, made it too visible to the public, and the super-rich like himself are shitting themselves over the backlash that's headed their way. Whether it's pitchforks or an epic 1990s-Japan-style crash from which there is no recovery, they know how thick they like the butter on their bread and it's been layed on so thick of late they know it can't last much longer. Their Dynasties are in jeopardy.
I think there is a lot of truth to that, NoDebt, at least among the wiser memebers of the uber wealthy.
This looks like an epic battle shaping up between those parasites controlled only by their greedy impulses vs. those who realize that too much blood sucking will either kill the host, or the host will somehow figure out how to kill the parasites. Probably a worse fight than beating drug addiction.
For every Ichan, there are 1000s ready and willing to replace him and everyone be damned.
1000s ready and willing to replace him...
And for the one who does? Well, this remains a world of time and there's always the issue of protection. That's the take away I get from his "warning".
Power, wealth, wisdom, strength, honor, glory and blessing may be eternal but we're not. In other words, "On a long enough..."
jmo.
Some people make the point - "If rates can never be raised because it will make the debt service unaffordable, or crash the stock market, the rates will never go up. What use is the fed if they can never raise rates?" Preposterous! The PHDs at the Fed are the only ones qualified to study the economy and moderate business cycles. Leave these complicated problems to the experts, your simplistic conceptions of the economy are next to useless.
The experts are about to lead you to the river so you can live in a van, how do you like the experts now?
You left off the /sarc. You need to make it obvious until people get used to you....
Unless you are MDB in sheeps clothing, then Troll on bro......
OT; for all you greens and health nuts..this is why we have modern health plagues, perhaps not those vaccines but a much bigger problem:
"The statement builds upon the Society's groundbreaking 2009 report, which examined the state of scientific evidence on endocrine-disrupting chemicals (EDCs) and the risks posed to human health. In the ensuing years, additional research has found that exposure is associated with increased risk of developing diabetes and obesity. Mounting evidence also indicates EDC exposure is connected to infertility, hormone-related cancers, neurological issues and other disorders."
Carl is now positioned short, and he now dumps and stumps to get others to dump....nice work if you can get it...
that maggot has big brass ballz
Endocrine-disrupting chemicals.
And they have something to do with the robbing of our precious bodily fluids?
I'm trying to track, here.
Darn tootin' they do.
it's getting to the point where a vicious hedge fund can't even round up the necessary funds for a good old fashion corporate raid anymore.
Sounds about right...
God DOES know where this is going. Thanks to ZeroHedge we know, too.
Carl Icahn sounds like Tyler but 6 years too late; also after having made his gravy in BTFD plays and carry trades like a ROBOTRADE robber baron !
This guy is one of those Oligarchs who is now turning COAT.
Just like Trump the Casino Dump billionaire.
<pre-crime skip>
You better take that back falak!
Scooby will get you!
http://www.1888goodwin.com/wp-content/uploads/2013/07/dog-bite.jpg
Vote Trump! Make America great again!
</pre-crime skip>
lol, ok.
I stand corrected and TRump is the ace of spades.
Lets hope he doesn't dig too deep a hole!
The first law of holes is: If you are in one, STOP DIGGING.
The second law of holes is: When filling a hole, always start at the bottom.
I remember the 60 minutes segment almost 40 years ago on D. Trump. He couldn't justify building up the casino gambling in Atlantic City without first securing tax abatements - I think they ran something like 10 years -- and 60 minutes basically branded him a snake oil salesman. Anyway, Trump sold AC a bill of goods and stayed long enough to see the casinos do well because of the lack of having to pay taxes. A year or two, either before or after the tax abatements expired, he sold them or tried to get rid of them. Of course, the casinos couldn't be run profitably after that so they went bankrupt. But D. Trump came away with his money.
Let's see what he will do with the federal gummint. I'm sure he'll push for everything that benefits his corporatist leanings. In the end, the gummint will be totally broke and he'll walk away with all the money.
The gubmint is already totally broke.
18 TRILLION dollars broke - all at the hand of career politicians
Oy Veh!
And all those years I thought it was "Oi vey". Just goes to show ya.
"Who knew?"
Oy Veh!
Mazel tov....and good luck with that.
My 19 year old fridge died the other day. So I went to Sears (close by) to buy another. The woman sales clerk told me store sales are the slowest in her 28 years with the company. Yet they are still hiring!! Got a good deal on a floor model, then she tried to sell me a 3 year Sears Service Plan. I told no, your not going to be around that long.
ebay is a pretty good barometer. It has been dead as a doornail ever since 2015 and the oil crash
I was in my local Lowe's yesterday afternoon to pick up a few things. I was the only customer in the store. When I got to the checkout counter, the clerk was literally slouched over the top of it, apparently dying of terminal boredom. I asked her where all the customers were and she said she didn't know and it had been that way for a few days now. Dunno. Maybe football season.
Oh ... and the Christmas stuff was on display.
Lowe's & Sears are BIG box Ponzi motherfuckers! I re-engineered their demise in 08, but the cockeaters in the FED decided to prop them up with QE Infinity, so it will take some time before they get the hint, and declare Chapter 11.
Rephrased "Carl Icahn, who has large bets on a market fall, wants us all to go on a selling frenzy do he can clean up on shorts.".
Man, we must be long lost twins or something.
Yeah, maybe so. But it's possible that this type of bearish verbiage by a big name is part of the snowball effect that will crash markets.
Translation of the article: "I'm mainly in cash and want a good buying opprotunity. So everyone should dump their stock". (Nevermind if it's overvalued or not - it's lower than it was months ago. Where was Icahn then? Oh yeah, pumping NFLX. ROFL).
trav7777
'This PIMPCO idiot doesn't seem to understand what the cause was...when the future is contractionary, ALL debts become increasingly infeasible as a "going concern." It becomes clear at the point of debt saturation that these claims cannot be paid and so there is a rush to redeem first.'
http://www.zerohedge.com/article/pimcos-mcculley-discusses-ticking-3-trillion-shadow-banking-time-bomb-defends-fed-head-regul
Icahn and his ilk are the elements that destroyed America. Vultures who raided companies for their pensions and other financial assets and forced the companies into bankruptcy. Fuck him and all his kind. They should be breaking rocks in Siberia for their crimes against humanity.
"...should be breaking rocks in Siberia for their crimes against humanity."
The ship salvaging yards in India, or the garbage dumps of Calcutta, would be moar suitable IMHO.
This trickle down economic plan is still the losing economic model that it was when Reagan started it.
"Trickle-down economics is the last refuge of a crony-capitalist."
"It's like a movie theater and somebody yells fire. There is only one little exit door," he said. "The exit door is fine when things are OK but when they yell fire, they can't get through the exit door … and there's nobody to buy those junk bonds."
Where have we heard that before?
You cannot serve two masters.
If I was a gambling man I'd go long on the dow this morning. I've read a few times that mutual funds and insurance companies et al will be in a world of pain below dow 16k, so surely no way the fed will allow it to happen. But I'll stay on the sidelines and just watch.
Today, you're a prophet!
Campaign Ad for Trump and himself as the head of the Treasury.
All ZH readers know another crash is coming... Commidities carnage, China hard landing, Abenomics, ZIRP, NIRP, etc.
Icahn is placing his bet that it happens before the election. If the crash happens before the election, he can get on the stage and say, "I warned about this. Elect Donald (and me) and we will fix everything with this here pixie dust".
ZH has been shouting these things for years. Its just that if you listened to ZH for those years you would have missed a 50% run up in stock prices. But atleast youd have your 50% loss on your gold holdings, I guess.
afaik, ZH does not provide trading/investment advice :P
I wish I could argue with that, but it is fact.
Of course, the gold run up was relatively brief, so it really depends on your average cost and objectives, I guess ;-)
You never know if you are going to have a fire but you buy fire insurance just in case. At least you can spend your metals insurance if you want.
Blankfein works for God - maybe we should ask him.
Of course, ICon says nothing about the lying and stealing that he and others like him did and are still getting away with.
(this is cover your ass time)
Funny how the meme changes when THEY want it to change. It is all manipulation and should be ignored.
Money is slavery. Icahn is more of a slave to money, its creators and their master than we are.
"market"...
LMFAO!!!
Even though were all flying blind, by definition this is still a market.
Icahn spoke the truth - everyone and his brother knows it - we (collectively) are heading towards a cliff and will go over it. However - there isn't a damn thing you or I can do about it other than buckle up and close our eyes.
It's not a question of him telling the truth, it's a question of why is he telling?
Ichan invoking God's name*. That's rich. Meanwhile, stock futures are back up, so us "weekend losers" (isn't that the term used on here recently to differentiate you "professionals" from us regular dumbasses?) are back in the game. Stephen King couldn't make this shit up.
Futures "up" under 50 is the new "down to sideways". You have to have triple digits up or down to really know the "direction" and then it STILL remains to be seen what we transpire during the last 10-20 minutes of trading.
Does look like the Central Banks have a lot a fires to keep under control. Perhaps Calipornia is a foreshadow of the markets; you know intentionally starting fires and frantic to put them out for "show" knowing they will, in the end, have to burn themselves out and leave a lot of wreckage in its wake.
if more QE 4 ever comes I will be buying stocks along with gold.
Stocks will be new hedge against inflation - that is until it stops..... kaboom!
The real question is if Baby Jesus knows the true value of gold?
Will Goldman off Ichan?
Quote: "They don't understand the treacherous path they are going down, Icahn said in an interview with Reuters.." - End
Yes they do; just watch this short and well documented video on FED policy and how we are on trajectory for both a market crash and world war using the 1939 "Fed Model" - clear as day!
Title: "Fed Audit Shocker: They Come from Planet Klepto" (Klepto as in thieves who can't help themselves)
https://www.youtube.com/watch?v=jt377DV2BKs (20 minutes well spent; you will need to take notes and use playback)
Share that video ZH'ers with all you family and friends who just do not "get it".
Great video, thanks for the link.
That is a good one, thanks.
The video is quite a letdown. He announces it all over a day before and then all you get is him telling us how he warned us "already" 3 months ago and how he laughed at Larry Fink (big. fucking. deal.) and he bought companies and he has been in this since a long time. Bla bla bla.
Watching 15 minutes of self-congratulatory crap was a bit of a waste of time.
I prefer David Stockman or PCR a 1000 times over that guy.
What does PCR stand for?
Paul Craig Roberts.
Paul Craig Roberts or Pussy, Cocaine and Rum
not sure which he was referring to
Pretty cool Rastafarian.
True, but they're not in the games as Ichan is. Stockman is mainly a austerity hawk- like many wealthy individuals who will profit from deflation- he doesn't give a shit about many who depend on Social Security and other transfer payments.
PCR has been mainly writing about American hegemony and Washington's foreign policy.
I seriously doubt that Icahn (like Trump) is providing his message as a public service.
It is planned and with a purpose.
Perhaps the video got his daughter some work. The producer is listed as a Michelle Icahn.
I take Carl at face value - I think he genuinely does not want to see ma and pa small investor getting burned again.
Michael Milken made Carl Icahn.
High yield leverage.
What a beautiful thing.
"The Bolsheviks revolted while the Czar mowed them down", oh please stop it you fuckin lying cunt
No, this is nothing more than damage control and an attempt to get himself on Trumps cabinet.
This comment is off topic but we need your help and it just might save the lives of your friends and family on 1000's more people you will never know. Please sign this petition to get the Red Cross and United Way to stop donating and installing dangerous ionization smoke alarms that do not detect smolding smoke which has resulted in 10' of 1000's of smoke inhalation deaths and 100's of 1000's fire injuries over last 40 years.
The ion manufactures have been sued several times yet still market these dangerous devices bcause they are cheaper to make than the safer photoelectric alarms so they make more profit selling the cheaper often deadly ion alarms. Thanks for your support !
https://www.change.org/p/gail-mcgovern-american-red-cross-internationa-federation-of-red-cross-and-red-cresent-societies-brian-gallagher-united-way-demand-red-cross-and-others-stop-installing-ionized-detectors-and-warn-public-of-dangers
So sad - this needless tragedy.
Of course, Carl ICon says nothing about the lyin' and stealin' they've done and continue to do without going to jail.