Carl Icahn thinks that the market today is starting to look very similar to 2007 and the build up to the financial crisis. And everyone is ignoring the elephant in the room. According to Icahn, back then everyone acted as if nothing was wrong, but everyone knew there was a housing bubble. The problem was that few people grasped how painful the popping of it would be.
Icahn isn’t calling for a market crash today, but he does think that we need to be concerned that interest rates being held so low for so long are creating bubbles that we may not even know about. Icahn thinks that sooner or later the Fed by itself is no longer going to be able to keep the equity and bond markets up.
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