Trump supporter billionaire investor Carl Icahn "I agree completely with Krugman"

[Mistame]

Paul Krugman.

[alexw]

You basically just said what I said, though I'm admittedly far more pessimistic towards the lobbying class and framed it as a justified attack.

I've elucidated why he is correct. Icahn has made statements on the economic situation which are correct, but unless you understand economics you won't understand why that is so.

[TrumpIsPresident]

Bla bla bla delusional bla bla bla Obamapologist syndrome bla bla race baiting

Pick one thing and attempt to dispute it.

Or just, ya know, don't quote me.

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Hilarious. You do realize that in 2009 the economy was on the verge of a second great depression, and one wrong policy move would have sent it all over the edge?

Scratches and dings my ass. The economy Obama was inherited from that incompetent idiot, Bush, was a total disaster zone.

Lot of items on that list.

You could pick one and try to dispute it if you wanted.

[alexw]

Pick one thing and attempt to dispute it.

Or just, ya know, don't quote me.

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Lot of items on that list.

You could pick one and try to dispute it if you wanted.

Why would anyone bother? Obama was handed an economic disaster zone by Bush-the-cretin who's like we have not seen since the 1930's. It should be obvious to anyone with half a brain that that would have long term economic consequences. Are you one of those less-than-half-a-brain people that thinks otherwise?

[Mihalik]

Pick one thing and attempt to dispute it.

Or just, ya know, don't quote me.

Why not? Here I am quoting your nonsense again.

Just to reiterate.

Obama wasn't president before 2008. The Great Recession was the consequence a mismanaged economy (before Obama took office). The previous administration started 2 wars, and crippled government revenue with the Bush Tax cuts.

I don't need to "dispute" you. Because you take facts and then spin it and make connections that have nothing to do with reality. You seem to ignore that there was a BEFORE 2008.

[TrumpIsPresident]

I don't need to "dispute" you.

You mean you can't.

That's fine, no worries.

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Why would anyone bother?

Shouldn't be a challenge at all for the so called "educated and informed" ones.

But, curiously, no of them can.

Hmm.

Oh well I'll leave you guys to it.

[Felya]

You mean you can't.

That's fine, no worries.

Shouldn't be a challenge at all for the so called "educated and informed" ones.

But, curiously, no of them can.

Hmm.

Oh well I'll leave you guys to it.

What year was Obama inaugurated as president?

[Spectral]

Icahn could, of course, provide that fiscal stimulus via his own petty cash and that of some his friends. He elects not to. I wonder why that is? Why do you suppose a man worth $20 billion would carp about the need for other people to spend more money while not doing much about it himself? Isn't there a bit of impropriety about a man worth $20 billion telling the nation that they need to deficit spend while not volunteering his own money?

[Felya]

Icahn could, of course, provide that fiscal stimulus via his own petty cash and that of some his friends. He elects not to. I wonder why that is? Why do you suppose a man worth $20 billion would carp about the need for other people to spend more money while not doing much about it himself? Isn't there a bit of impropriety about a man worth $20 billion telling the nation that they need to deficit spend while not volunteering his own money?

What impropriety? We have a man who is leading the GOP nomination, where his only merit is that he is billionaire. Why wouldn't other billionaires feel they can tell the country what to do, just because they are billionaire?

[Spectral]

What impropriety? We have a man who is leading the GOP nomination, where his only merit is that he is billionaire. Why wouldn't other billionaires feel they can tell the country what to do, just because they are billionaire?

Trump's a fuckface. I don't know what that has to do with Icahn. I'm irritated by people with many billions of dollars who aren't putting up a penny of their own cash proudly declaring that the nation needs to go further into debt for stimulus. Really endorse it? Cool, lead the fucking way. I don't necessarily even disagree with the policy prescription, I'm just sick of people with absolutely no real stake in the matter declaring that other people's money should be spent.

[PC2]

Trump's a fuckface. I don't know what that has to do with Icahn. I'm irritated by people with many billions of dollars who aren't putting up a penny of their own cash proudly declaring that the nation needs to go further into debt for stimulus. Really endorse it? Cool, lead the fucking way. I don't necessarily even disagree with the policy prescription, I'm just sick of people with absolutely no real stake in the matter declaring that other people's money should be spent.

Like you have mentioned before, it is mostly a type of virtue-signaling. Ultra rich people feel so secure that they don't have to worry about the content of what they are saying or that it is hypocritical, but only whether or not it creates a net PR benefit for themselves.

[Deleted]

Billionaire who owes a good chunk of his fortune to government largesse wants more government largesse, news at 11.

This. If a 'Billionaire Investor' is invested in anything but cash - and he will be - fiscal stimulus directly improves his net worth. Investing without any risk, of course his ilk loves that.

[Felya]

Trump's a fuckface. I don't know what that has to do with Icahn. I'm irritated by people with many billions of dollars who aren't putting up a penny of their own cash proudly declaring that the nation needs to go further into debt for stimulus. Really endorse it? Cool, lead the fucking way. I don't necessarily even disagree with the policy prescription, I'm just sick of people with absolutely no real stake in the matter declaring that other people's money should be spent.

The fact that Trump's support shows that people want someone who's only credentials is being a billionaire to lead them. Why wouldn't another billionaire take that as a sign that his commentary is what people want? No one screams at Trump to bring his business back to US, when he talks about Amercan jobs. Why wouldn't any billionaire now do the same thing?

[alexw]

Icahn could, of course, provide that fiscal stimulus via his own petty cash and that of some his friends. He elects not to. I wonder why that is? Why do you suppose a man worth $20 billion would carp about the need for other people to spend more money while not doing much about it himself? Isn't there a bit of impropriety about a man worth $20 billion telling the nation that they need to deficit spend while not volunteering his own money?

At heart the issue is that as individuals we are selfish beings. We want what is best for ourselves and that can and does conflict with what is best for everyone overall. So getting him and other billionaires to spend their cash so it returns to actually cycling through the real economy, instead of inflating asset prices would be good for everyone overall, but bad, relatively, for the billionaire class. Similarly some on this board do not want their tax monies spent on infrastructure or education if they do not directly benefit from that spending, even though such spending is astoundingly good overall for wider society.

This is where government comes in. A properly functioning government can and should over-ride the will of selfish individuals to look out for the needs of the whole. Thus it should act here. It should undertake stimulus spending on growth positive projects such as renewing the nations crumbling infrastructure, by taxing some of the useless unproductive piles of cash held by the billionaires and the large corporates. Of course Icahn would rather others bear that cost and so have it paid for by deficit spending, but it would be much better to put the useless hoards to work that individuals like him are holding.

Either way the government should act.