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Tags: Rubenstein | US | invest | economy

Carlyle's Rubenstein: US Is Best Place to Invest 'By Far'

By    |   Friday, 07 November 2014 11:45 AM EST

It's morning in America, according to David Rubenstein, co-CEO of private equity titan Carlyle Group.

"The U.S. economy is in pretty good shape," he told CNBC. "It will probably grow about 3 percent this year. Unemployment is under control. It's not quite as low as we'd like, but it's coming down."

GDP expanded 3.5 percent in the second quarter, and the unemployment rate dropped to a six-year low of 5.8 percent in October.

The election results also could be helpful, Rubenstein said.

"I think the best news we've seen recently is that congressional leaders and the president are saying maybe they'll work together. Now, that would actually help the economy. I think if we had less dysfunction in Washington, business people would invest more."

So is the United States the best place to invest? "By far, there's no place comparable," Rubenstein remarked.

Carlyle also is bullish on Europe and China. Asset prices are about 25 percent lower in the Europe than the United States, he noted. While China's economy is slowing down, it's still growing about 7.3 percent, Rubenstein added.

Many in the financial community reacted enthusiastically to Friday's U.S. October jobs report.

"Despite all the talk about the global economy, the U.S. domestic economy seems to be doing fairly well," John Silvia, chief economist at Wells Fargo, told Bloomberg.

"You look at these employment numbers, and although wages are steady, the combination of job gains and steady wages means you’re going to see continued personal income and therefore consumer spending."

© 2024 Newsmax Finance. All rights reserved.


Finance
It's morning in America, according to David Rubenstein, co-CEO of private equity titan Carlyle Group.
Rubenstein, US, invest, economy
253
2014-45-07
Friday, 07 November 2014 11:45 AM
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