Bill Bonner – The Bill Bonner Letter (United States) –
Hardly an original point of view, and lacking in precious detail, our outlook puts us apart from some of the most successful investors and economists of our time.
Ray Dalio, who runs the world’s largest hedge fund group, says we are at the beginning of a “profound president-led ideological shift” similar to the start of the Reagan era.
Carl Icahn, billionaire corporate raider and investor, told the press that “all the things Donald’s doing really point to a much, much better economy.”
And Harvard economist Ken Rogoff explained why he, too, sees good things coming down the pike:
… it is far more likely that after years of slow recovery, the U.S. economy might at last be ready to move significantly faster, at least for a while.
You may remember Rogoff as the same person who thinks taking the $100 bill out of circulation will turn sinners into saints. Much of the world’s illegal commerce is conducted in Ben Franklins. Removing them would make crime less affordable, or at least less convenient, he believes.
It would surely be more inconvenient for honest people. Real criminals would hardly blink.
They’ve faced the threat of jail and drive-by shootings… Forcing them to give up one Ben Franklin for two U.S. Grants is unlikely to stop them from a life of crime.
But maybe Rogoff, Dalio, and Icahn are onto something. Maybe Trump has a winning formula. Or maybe he will be lucky!