Carl Icahn warns: “There’s going to be a bigger problem than 2009 and 1929, eventually. A major storm is coming.”
Reflecting on the market’s moves recently, Icahn shocked the anchors by saying:
“This is something we’ve never seen before… I don’t remember ever seeing a market with this kind of volatility over two weeks.”
“The market has become a much more dangerous place [due to index funds and ETFs]… it’s like 2008 where everyone was buying mortgages and CDS.”
Concluding that: “Passive investing is the bubble right now.”
“There is going to be a major, major, major correction.”
“This is a manifestation of a real deep problem we have in our markets.”
“There is a huge bubble of passive money flowing in… a sort of euphoria and a lot of people are going to pay the price just like in 1929.”
Icahn then took his warning to 11…
“I do think the market will bounce back but these are the rumblings before the earthquake.”
“The market is telling you something… it’s telling you it’s very dangerous…it’s way over-leveraged.”
Both Nostradamus and end times Bible prophecy suggest economic collapse as a prelude to WWIII. In America and in Europe, society is polarized and social tensions are high during good times. How will people react in desperate times?
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