Carl Icahn, one of the wealthiest and most famous investors on the planet, has issued a warning.
Be prepared, he says, because there’s danger ahead.
In a video released Tuesday on his website, Icahn explains why he believes we’re in for tough times in the near future.
According to Icahn, short-term thinking in both the government and corporate board rooms has pushed us to the brink of a tall cliff.
The culprits are numerous, but they include relentless zero interest rate policy, ill-advised stock buybacks, and junk bond ETFs. Sadly, these are just a few of the catalysts for the coming collapse.
And how bad will it be once we go over the cliff?
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Well, Icahn says he’s “seen this before a number of times.” He references 1969, 1974, 1979, 1987, and 2000. He then says that the turmoil ahead may make those other times look “pretty good” by comparison. That’s a scary thought.
Ultimately, Icahn believes that many politicians and CEOs have taken advantage of the system and, unfortunately, the public will get screwed once again.
You can watch the video in its entirety on his website.
Finally, let us know what you think. Do you agree with Icahn that short-term thinking and corporate greed have brought us to the brink? Or is Icahn misjudging our current situation and really just fear mongering?