| John Titor |
May 22 (Bloomberg) -- Billionaire investor Carl Icahn said Barack Obama would be a ``terrible'' U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.
``I don't normally get involved in politics, but this time I am,'' Icahn told an investors conference in New York last night. ``I don't think Obama really understands economics.''
The Obama campaign referred a request for comment to UBS Americas Chairman Robert Wolf, a fundraiser. ``Senator Obama has a very smart plan to help our nation come out of and recover more quickly from our economic downturn,'' Wolf said in an e-mail.
Obama, of Illinois, is closing in on the Democratic presidential nomination. He has 1,962 delegates, according to an Associated Press tally, 64 delegates shy of the 2,026 needed to clinch the nomination.
``I personally think he would be a terrible president,'' Icahn, 72, said. Obama would probably go on a ``huge spending spree'' that ``the country can't afford right now.''
Coupled with the higher tax rates that the Illinois senator has already endorsed, ``you would have a loss of confidence in the dollar,'' leading to accelerating inflation and ``much higher interest rates,'' Icahn said. His comments, and remarks by other presenters at the conference, were embargoed by the organizers until this morning.
Even worse, Icahn said, would be a Democratic president with a veto-proof supermajority of 60 Democrats elected to the Senate.
`Runaway Legislation'
``It would be devastating,'' he said. ``Then you couldn't stop runaway legislation.''
Earlier this year, Icahn donated the maximum $2,300 to the presidential campaign of Republican Rudy Giuliani, according to the Washington-based Center for Responsive Politics. Giuliani dropped out of the race. Icahn has also given to Democrats, including New Hampshire Senate candidate Jeanne Shaheen.
Obama, 46, does have support in the investment community from leaders such as Wolf. Among those who have donated to his campaign are billionaires Kenneth C. Griffin of Citadel Investment Group in Chicago, and George Soros of Soros Fund Management, according to the center. |
|
|
| NickNuke |
| If Obama had any brains, he would utilize the best of the best to help him formulate a plan. Unfortunately, "The Audacity of this dope" get's in the way. |
|
|
| zimmie |
| Raising taxes when the economy is stagnant is an idea no reputable economist would endorse. |
|
|
| JTProcess |
I respect Icahn because he is a strong business man, but he obviously wants to continue the type of unregulated mafia-style capitalism that brought about the trillion dollar defecit, collapsing infrastructure, dependence on foreign *(terrorist) oil, the stock market crash, a new recession, the subprime mortgage crisis, the decline of the dollar, the rise of China as an economic superpower, etc. etc. etc.
This type of capitalism allows him to not pay any taxes so he can cling to another Mil at the end of the year...
and people who really care about their country don't mind giving back a little bit to the economy that made them unbelievably rich... there are plenty of good businessmen who with principal who understand this practice... Icahn obviously does not.
It's sad but it's not like Obama needs him anyway... no one who liked Rudy is gonna be pulling for Obama.
I bet this douchebag wants to see Clinton elected... and that's probably why he's crying and throwing a public tantrum like this... |
|
|
| thoroldjames |
Quote: Originally posted by John Titor
May 22 (Bloomberg) -- and a loss of international confidence in the dollar. |
this guy actually thinks there's any confidence in it right now? |
|
|
| mkriss5681 |
| I'm no billionaire but isn't the Iraqi war the man reason our economy is shitty right now with the decrease of oil from Iraq and the spaming of the US dollar in the foreign market? |
|
|
| JTProcess |
Quote: Originally posted by mkriss5681
I'm no billionaire but isn't the Iraqi war the man reason our economy is shitty right now with the decrease of oil from Iraq and the spaming of the US dollar in the foreign market? |
of course not... the surge is working... pay no attention to the money floating out of your wallet over to the middle east. |
|
|
| NickNuke |
Quote: Originally posted by mkriss5681
I'm no billionaire but isn't the Iraqi war the man reason our economy is shitty right now with the decrease of oil from Iraq and the spaming of the US dollar in the foreign market? |
That's PART of it. They're are much more compex forces at work. The high price of oil is caused by many, many factors including increase in demand (China, India, and Russia), weak dollar (Oil as a hedge), non-investment in oil refining infrastructure, and militant environmental policies.
Internally, the consumer just over extended himself and has caused massive problems with defaults and the ripple through all the assets based on those underlying loans.
Why the consumer has overextended himself is another question; Predatory lending; ignorant/uneducated consumers; Cultural (the "new" American dream (spend and worry about it later)) have all played into it. |
|
|
| BarkonCue |
Quote: Originally posted by John Titor
May 22 (Bloomberg) -- Billionaire investor Carl Icahn said Barack Obama would be a ``terrible'' U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.
``I don't normally get involved in politics, but this time I am,'' Icahn told an investors conference in New York last night. ``I don't think Obama really understands economics.''
The Obama campaign referred a request for comment to UBS Americas Chairman Robert Wolf, a fundraiser. ``Senator Obama has a very smart plan to help our nation come out of and recover more quickly from our economic downturn,'' Wolf said in an e-mail.
Obama, of Illinois, is closing in on the Democratic presidential nomination. He has 1,962 delegates, according to an Associated Press tally, 64 delegates shy of the 2,026 needed to clinch the nomination.
``I personally think he would be a terrible president,'' Icahn, 72, said. Obama would probably go on a ``huge spending spree'' that ``the country can't afford right now.''
Coupled with the higher tax rates that the Illinois senator has already endorsed, ``you would have a loss of confidence in the dollar,'' leading to accelerating inflation and ``much higher interest rates,'' Icahn said. His comments, and remarks by other presenters at the conference, were embargoed by the organizers until this morning.
Even worse, Icahn said, would be a Democratic president with a veto-proof supermajority of 60 Democrats elected to the Senate.
`Runaway Legislation'
``It would be devastating,'' he said. ``Then you couldn't stop runaway legislation.''
Earlier this year, Icahn donated the maximum $2,300 to the presidential campaign of Republican Rudy Giuliani, according to the Washington-based Center for Responsive Politics. Giuliani dropped out of the race. Icahn has also given to Democrats, including New Hampshire Senate candidate Jeanne Shaheen.
Obama, 46, does have support in the investment community from leaders such as Wolf. Among those who have donated to his campaign are billionaires Kenneth C. Griffin of Citadel Investment Group in Chicago, and George Soros of Soros Fund Management, according to the center. |
Warren Buffett differs.
Don't you read these stories before posting? WTF do we care what a guy who was backing Guiliani thinks? |
|
|
| NickNuke |
Quote: Originally posted by JTProcess
of course not... the surge is working... pay no attention to the money floating out of your wallet over to the middle east. |
\
Honestly, JT, money has been "floating out of my wallet" for the last 20 years, regardless of the administration, wars, etc. Let's be honest with ourselves. Our fucked up, free spending cocksucking politicians will find many ways to utilize our hard earned tax dollars. |
|
|
| JTProcess |
Quote: Originally posted by NickNuke
\
Honestly, JT, money has been "floating out of my wallet" for the last 20 years, regardless of the administration, wars, etc. Let's be honest with ourselves. Our fucked up, free spending cocksucking politicians will find many ways to utilize our hard earned tax dollars. |
This is true... however... in the last 8 years it has spiraled completely out of control. We need to start pedaling back in the other direction... towards what the Republicans used to claim they stood for... although since Nixon they have done the exact opposite of what they claimed to stand for... less government... less taxes... less spending... more freedom.
The Clinton years were a step in the right direction... I'm not saying he was perfect... far from it... but as far as our economy is concerned his policies had a far more progressive effect than any other president of the last 20 years. The numbers don't lie. |
|
|
| x76 |
1. Dismantle the Federal Reserve
2. Abolish the IRS and the income tax
3. You don't make it here, you don't sell it here. Fuck offshoring US jobs and mfg.
4. Alternative energy. We has it.
5. I'll think of it later |
|
|
| NickNuke |
Quote: Originally posted by x76
1. Dismantle the Federal Reserve
2. Abolish the IRS and the income tax
3. You don't make it here, you don't sell it here. Fuck offshoring US jobs and mfg.
4. Alternative energy. We has it.
5. I'll think of it later |
6. Declare Anarchy
7. Make x76 Supreme Ruler & Dicktaster |
|
|
| spankysxxx |
Quote: Originally posted by John Titor
May 22 (Bloomberg) -- Billionaire investor Carl Icahn said Barack Obama would be a ``terrible'' U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.
``I don't normally get involved in politics, but this time I am,'' Icahn told an investors conference in New York last night. ``I don't think Obama really understands economics.''
The Obama campaign referred a request for comment to UBS Americas Chairman Robert Wolf, a fundraiser. ``Senator Obama has a very smart plan to help our nation come out of and recover more quickly from our economic downturn,'' Wolf said in an e-mail.
Obama, of Illinois, is closing in on the Democratic presidential nomination. He has 1,962 delegates, according to an Associated Press tally, 64 delegates shy of the 2,026 needed to clinch the nomination.
``I personally think he would be a terrible president,'' Icahn, 72, said. Obama would probably go on a ``huge spending spree'' that ``the country can't afford right now.''
Coupled with the higher tax rates that the Illinois senator has already endorsed, ``you would have a loss of confidence in the dollar,'' leading to accelerating inflation and ``much higher interest rates,'' Icahn said. His comments, and remarks by other presenters at the conference, were embargoed by the organizers until this morning.
Even worse, Icahn said, would be a Democratic president with a veto-proof supermajority of 60 Democrats elected to the Senate.
`Runaway Legislation'
``It would be devastating,'' he said. ``Then you couldn't stop runaway legislation.''
Earlier this year, Icahn donated the maximum $2,300 to the presidential campaign of Republican Rudy Giuliani, according to the Washington-based Center for Responsive Politics. Giuliani dropped out of the race. Icahn has also given to Democrats, including New Hampshire Senate candidate Jeanne Shaheen.
Obama, 46, does have support in the investment community from leaders such as Wolf. Among those who have donated to his campaign are billionaires Kenneth C. Griffin of Citadel Investment Group in Chicago, and George Soros of Soros Fund Management, according to the center. |
Icahn made a couple of points but I doubt that defines the entire presidency. We've seen over
the last 7 years that the United States is capable of enduring quite a bit. Icahn operates at the
level that George Bush caters too so one has to expect him to be upset that the reigns are
going to be pulled in.
While I agree that legislation would increase I'm just old enough now to understand that when
big business starts talking about "runaway legislation" he's usually talking about stuff that
applies to him.
I could see interest rates coming up regardless of who is president. I see Obama's presidency
similar (not same) to FDR's where there will be more money into infrastructure than George
Bush did. More money in the hands of the average man instead of the corporate giant. It has
yet to be seen if it will affect the economy. However, an FDR-like Obama will help the economy a
lot farther than any $600 gift or a temporary gas-tax vacation. Plus, it's going to take a couple of
years to pull out of Iraq so Obama will need to show a lot of progress domestically in order to
secure a second term.
Having said that, if McCain started outlining his cabinet early and pointed out that he's not using
any of the regular suspects he might have a shot. When I think to myself who would be good
for this country right now Ron Paul always pops up first. Then again, I liked what Ross Perot
had to say and always thought we needed a successful business person at the helm. |
|
|
|
