President Joe Biden’s policies have put the future of the U.S. in jeopardy, warns Leon Cooperman, CEO of hedge fund Omega Family Office, Yahoo Finance reports.“I think the bulk of the market is coming down,” Cooperman says. “Earnings are up a bit, but if you take out the Sainted Seven, the market is down for the year.”
“You see companies doing relatively well and not being rewarded, and I think it’s because of the macro environment,” Cooperman says. “I’m less worried about inflation than I’m worried about the fiscal position of the country,” the hedge fund manager says. “We’re borrowing from the future through extremely aggressive fiscal policies, which bear no relationship to what the country can afford.”
“When Donald Trump was president, he was running a trillion-dollar deficit, and the economy was fully employed,” he says. “Biden has made it worse because of economic circumstances and two wars.”
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