×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: carl icahn | economy | disaster | catastrophe

'Danger Ahead': Icahn Warns of Potential Looming Catastrophe in New Video

'Danger Ahead': Icahn Warns of Potential Looming Catastrophe in New Video
Carl Icahn (Getty)

By    |   Monday, 28 September 2015 10:14 AM EDT

Billionaire financier and activist Carl Icahn warns that the financial markets are on a brink of yet another catastrophe.

Icahn is planning to release a video on Tuesday called “Danger Ahead” on his website, warning that gridlock in Washington, Federal Reserve monetary policy and irresponsible CEOs are creating a recipe for trouble.

"I've been worried for the last five, six months about the market and the economy and the dangerous spot that we're in," Icahn said.

"I did speak four or five times warning about the problems we have. I want to speak out now because — I know this may sound corny, I grew in the streets of Queens — I love this country and I feel strongly about the dysfunction going on in both Washington and the boardrooms of corporate America," he said.

He told CNBC that low interest rates caused bubbles in art, real estate and high-yield bonds – with potentially dramatic consequences.

"It's like giving somebody medicine and this medicine is being given and given and given and we don't know what's going to happen — you don't know how bad it's going to be. We do know when we did it a few years ago it caused a catastrophe, it caused '08. Where do you draw the line?"

Icahn said he's "more hedged now than I've been in years."

"The Fed may have backed itself into a corner. They should have absolutely raised rates six months ago," adding it's difficult now because of global concerns.

In an interview with the New York Post, Icahn also is now the latest to attack the 1 percent.

“I’m saying the wealthy, the elitists, are a little oblivious to the problems” facing the country.

“They are my friends but they feel a certain sense of entitlement.”

Icahn said a pal, a fellow 1-percenter, asked him recently what the first thing he would do if he were elected president, and he replied: “I told him I would make you pay some f- -king taxes.”

Related Stories:

© 2022 Newsmax Finance. All rights reserved.


StreetTalk
Billionaire financier and activist Carl Icahn warns that the financial markets are on a brink of yet another catastrophe.
carl icahn, economy, disaster, catastrophe
353
2015-14-28
Monday, 28 September 2015 10:14 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved