Billionaire investor Carl Icahn on Wednesday offered a grim outlook on the economy in President Joe Biden’s (D) America.
He told MarketWatch inflation was a major player when it came to the market’s downturn, the outlet reported.
“Inflation is a terrible thing,” he commented, adding it led to Roman Empire’s downfall. “You can’t cure it.”
Icahn also laid blame on the federal government when it came to the financial issues plaguing the nation, saying, “We printed up too much money, and just thought the party would never end. And the party’s over.”
In February, Icahn told Bloomberg Markets and Finance it was not a good idea to continue printing money.
“You can’t keep printing up money, and printing it up and printing it up. Because what you have now that you can’t control. The government can’t control inflation,” he said.
“The simple fact here is the tension between inflation and printed up money can’t continue to exist without busting open,” he concluded:
Earlier this month, the White House celebrated Biden’s “Inflation Reduction Act” even after consumer prices climbed in August, Breitbart News reported.
“The Bureau of Labor Statistics’ Consumer Price Index released Tuesday morning shows that inflation in August rose one-tenth of a percentage point from July and up 8.3 percent from the previous year,” the outlet said.
During an interview Monday on NBC’s Late Night with host Seth Meyers, Sen. Bernie Sanders (I-VT) appeared to criticize the Inflation Reduction Act.
When Meyers asked if he thought it was enough for Democrats to run on the Inflation Reduction Act in the upcoming midterms, Sanders said, “No, I don’t.”
He continued, “Look, what we don’t talk about in Congress, and we don’t talk about in the media is what’s going on with working families in this country. And the truth is that the middle class of this country is falling further and further behind. Wages are not keeping up with inflation.”