The 'single greatest risk' facing Americans could hit within a decade, billionaire warns

MarketWatch2020-12-22

That's Sam Zell, the billionaire real-estate mogul behind Equity Group Investments, warning in a recent RealVision interview that "a 25% reduction in our standard of living" could take place if the ...

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Teomylinh
2020-12-22
Teomylinh
Agree. US has been printing money to support the economic during the Covid-19. I am always how can just printing huge trillion money without any consequences. Probably only the expert can explain when the collapsing will happen. Guess need to take another few years before consequences set in.

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S. economy. Bridgewater's Ray Dalio recently warned that \"we're very close\" to losing that status.\"The system needs to be re-engineered to do this. But if we don't do this engineering well, we're going to spend in an unlimited way and deal with that by creating debt that won't ever be paid back,\" Dalio told MarketWatch in an interview (https://www.marketwatch.com/story/billionaire-investor-ray-dalio-on-capitalisms-crisis-the-world-is-going-to-change-in-shocking-ways-in-the-next-five-years-2020-09-17) back in September. \"Within the next five years you could see a situation in which foreigners who have been lending money to the United States won't want to.\"As for Zell, he also shared his thoughts on the current investing climate in comments from the RealVision interview compiled by Business Insider (https://markets.businessinsider.com/currencies/news/billionaire-investor-sam-zell-questions-tesla-bitcoin-work-from-home-2020-12-1029910959).\"We can look at some parts of the stock market today and say, 'Everybody is crazy,'\" he said, \"I look at valuations and see extraordinary numbers that I can't support.\" He pointed specifically to one of the market's highfliers. \"I can't even begin to give you an intelligent assessment of Tesla (TSLA).\"Then there's bitcoin and it's nosebleed ride to record highs.\"I am very skeptical, frankly, of bitcoin.\" he said. \"Ultimately, it may be the answer or one of the answers. But right now, it's a world that's extraordinarily populated by chameleons and other fast-talking characters. I don't believe everybody involved in it are the kind of people I'd like to follow. \"Finally, Zell also had a message for those confident that they have a pulse on where the market is headed in 2021.\"Everybody else seems to have a kind of timing game in their own head. 'Well, I can get out before so and so happens,'\" he said. \"The world is full of skeletons of people who believed they could get out before the bad event came.\"Anybody who bought blue chips early in Monday's session enjoyed some great timing, considering the Dow Jones Industrial Average bounced back from a steep retreat early to turn positive. The S&P 500 and the Nasdaq Composite were still in the red.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":330675103,"gmtCreate":1608619234902,"gmtModify":1704975537748,"author":{"id":"3570183636416665","authorId":"3570183636416665","name":"Teomylinh","avatar":"https://static.tigerbbs.com/7cac9bec23449662e762036d205b5c53","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3570183636416665","idStr":"3570183636416665"},"htmlText":"Agree. US has been printing money to support the economic&nbsp;during the Covid-19. I am always how can just printing huge trillion&nbsp;money without any consequences. Probably only the&nbsp;expert&nbsp;can explain when the collapsing will happen. Guess need to take another few years before consequences set in.&nbsp;","listText":"Agree. US has been printing money to support the economic&nbsp;during the Covid-19. I am always how can just printing huge trillion&nbsp;money without any consequences. Probably only the&nbsp;expert&nbsp;can explain when the collapsing will happen. Guess need to take another few years before consequences set in.&nbsp;","text":"Agree. US has been printing money to support the economic during the Covid-19. I am always how can just printing huge trillion money without any consequences. Probably only the expert can explain when the collapsing will happen. Guess need to take another few years before consequences set in.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/330675103","repostId":2093748163,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":8,"commentSize":1,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2093748163"}