Billionaire investor warns over impending financial crisis: 'Nobody' knows when it will hit
foxbusiness.comOmega Family Office's Leon Cooperman analyzes the rate cut outlook and the response to antisemitism on campuses on 'The Claman Countdown.'
Omega Family Office CEO Leon Cooperman warns that the U.S. is heading towards a financial crisis, arguing that «nobody» knows when it will hit.
Cooperman’s stark warning about the state of the U.S. economy comes after assessing the country’s «massive debt» that is «out of control,» pointing the finger at both Republicans and Democrats for what’s currently taking place in the system.
«We have a government system of leadership at a crisis,» he told FOX Business’ Liz Claman during his appearance on «The Claman Countdown» on Wednesday.
«We’re living too comfortably with our policies now. When we get into a crisis environment, we’ll get cooperation,» Cooperman said.
FreedomWorks chief economist Steve Moore joins 'The Bottom Line' to weigh in on the Biden White house blaming the GOP for '90%' of the national debt increase.
The Omega Family Office chairman admitted that the impending crisis «influences» his thinking, revealing that he’s staying away from «overvalued» U.S. government bonds. He went on to add that the stock market has been «extraordinarily bifurcated.»
THE FUSE ON AMERICA'S DEBT BOMB JUST GOT SHORTER
Despite the current standing of the economy, the Federal Reserve signaled that interest rate cuts could be possible in 2024.
«I think those who are looking for six rate cuts are smoking some substance,» Cooperman expressed, arguing that we would be «lucky» to see three reductions.
«I am of the view that interest rates in the 10-year sector are not high enough. And everything I look at, whether it's the speculative nature of the stock market, the level of the market itself, you
