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Billionaire Carl Icahn warns of ‘danger ahead’ for U.S. economy

Billionaire Carl Icahn warns of ‘danger ahead’ for U.S. economy

Billionaire investor Carl Icahn may have said no to being Donald Trump’s Treasury secretary, but he’s not ready to give up the national stage. In a rare move — even for an investor so accustomed to the public spotlight — the founder and chairman of $8.5 billion Icahn Enterprises has produced a video warning of “danger ahead’ for the U.S. economy that also advocates Trump as the best candidate to fix the nation’s problems.

In the 15-minute video, Icahn calls for taxes to be lowered for corporations and raised for hedge fund managers. He also reiterates his previous warning that interest rates hoovering close to zero are creating investment bubbles in real estate, art, corporate earnings and high-yield bonds. “The middle-class investor has nowhere to go with their money but into the (stock) market, or even more concerning, high-yield bonds, which are very risky,” Icahn said in the video, which is posted on his website

Icahn said he made the video to highlight the “dysfunction” in corporate America and on Capitol Hill. “I want to see this dysfunction obliterated and we get stuff done in Congress,” said the billionaire, known for pushing his agenda at large publicly traded companies, including Apple, Yahoo and Motorola. Icahn said he thinks Trump — who he sparred with in 2010 over a casino — is the best candidate to fix the dysfunction.

“I don’t think the other guys understand the major problems we face,” Icahn said of of presidential contenders. “I grew up on the streets in Queens (N.Y.). I never could have been this successful in any other country in the world. I hate to see it go down the tubes and that’s what’s sort of happening. We’re losing our hegemony. I really believe it.”


February 2018
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