{"id":13220,"date":"2016-04-28T19:15:35","date_gmt":"2016-04-28T23:15:35","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13220"},"modified":"2016-04-28T19:15:35","modified_gmt":"2016-04-28T23:15:35","slug":"carl-icahn-warns-wall-street-of-day-of-reckoning","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/28\/carl-icahn-warns-wall-street-of-day-of-reckoning\/","title":{"rendered":"Carl Icahn warns of &#8216;day of reckoning&#8217;"},"content":{"rendered":"<p><a href=\"http:\/\/www.theage.com.au\/business\/markets\/carl-icahn-sells-entire-apple-stake-on-china-worries-20160428-gohqgr?promote_channel=edmail&amp;mbnr=MTQyOTU1Nzk\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/1461879802864.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>Reuters:<\/p>\n<blockquote><p>Billionaire activist investor Carl Icahn &#8230;.. said he was &#8220;still very cautious&#8221; on the US stock market and there would be a &#8220;day of reckoning&#8221; unless there was some sort of fiscal stimulus.<\/p>\n<p>&#8230;..Icahn, who owned 45.8 million Apple shares at the end of last year, said China&#8217;s economic slowdown and worries about how China could become more prohibitive in doing business triggered his decision to exit his position entirely.<\/p><\/blockquote>\n<p>Icahn is right about fiscal stimulus. Easy money policies implemented by central banks around the globe are an effective tool to stem the flow when financial markets are hemorrhaging but they are not a long-term solution. The only effective means of halting the long-term, downward spiral is fiscal stimulus.<\/p>\n<p>The biggest obstacle to fiscal stimulus is resistance to increasing public debt. There is good reason for this as wasteful deficit spending in the past has left taxpayers with a massive debt burden and nothing to show for it. Governments ran deficits to cover a shortfall in tax revenue or an increase in expenditure without thought as to how the debt would be repaid.<\/p>\n<p>But if debt is used to fund investment in productive infrastructure, revenue from the asset can be used to pay off the debt over time, or the asset can be sold to repay the loan. There is an immediate double benefit to government, with increased wages &#8212; directly from infrastructure projects and indirectly from suppliers of goods and services &#8212; boosting tax revenues while also saving on unemployment benefits. The long-term benefit is retaining and developing skills in the economy that would otherwise be lost through long-term unemployment.<\/p>\n<p>Politicians have a poor track record, however, when it comes to selecting productive infrastructure projects. Instead favoring projects that will garner the most votes. This can be improved by setting up a non-partisan planning and selection process with a long time horizon. Also partnership with the private sector would eliminate projects with weak or unpredictable revenue streams.<\/p>\n<p>Partnerships with the private sector also help to leverage funds raised through public debt, limit cost overruns and contain on-going running costs. But both sides must have skin in the game.<\/p>\n<p>To be effective, infrastructure programs must address the long-term needs of the economy and should be carried out on a broad, even global, scale to re-invigorate the faltering global economy.<\/p>\n<p>Source: <a href=\"http:\/\/www.smh.com.au\/business\/markets\/carl-icahn-sells-entire-apple-stake-on-china-worries-20160428-gohqgr.html\">Carl Icahn sells entire Apple stake on China worries, warns Wall Street of &#8216;day of reckoning&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters: Billionaire activist investor Carl Icahn &#8230;.. said he was &#8220;still very cautious&#8221; on the US stock market and there would be a &#8220;day of reckoning&#8221; unless there was some sort of fiscal stimulus. &#8230;..Icahn, who owned 45.8 million Apple shares at the end of last year, said China&#8217;s economic slowdown and worries about how &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/28\/carl-icahn-warns-wall-street-of-day-of-reckoning\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Carl Icahn warns of &#8216;day of reckoning&#8217;&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41,46,34],"tags":[1416,2492,2774,2783,2808],"class_list":["post-13220","post","type-post","status-publish","format-standard","hentry","category-china-hk","category-deficit-spending-employment","category-us-canada-countries-regions","tag-fiscal-stimulus","tag-non-partisan-planning-and-selection","tag-private-sector-partnerships","tag-productive-infrastructure","tag-public-debt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Carl Icahn warns of &#039;day of reckoning&#039; - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carl Icahn warns of &#039;day of reckoning&#039; - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Reuters: Billionaire activist investor Carl Icahn &#8230;.. said he was &#8220;still very cautious&#8221; on the US stock market and there would be a &#8220;day of reckoning&#8221; unless there was some sort of fiscal stimulus. &#8230;..Icahn, who owned 45.8 million Apple shares at the end of last year, said China&#8217;s economic slowdown and worries about how &hellip; Continue reading &quot;Carl Icahn warns of &#8216;day of reckoning&#8217;&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/04\/28\/carl-icahn-warns-wall-street-of-day-of-reckoning\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-28T23:15:35+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/04\/1461879802864.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/04\\\/28\\\/carl-icahn-warns-wall-street-of-day-of-reckoning\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/04\\\/28\\\/carl-icahn-warns-wall-street-of-day-of-reckoning\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Carl Icahn warns of &#8216;day of reckoning&#8217;\",\"datePublished\":\"2016-04-28T23:15:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/04\\\/28\\\/carl-icahn-warns-wall-street-of-day-of-reckoning\\\/\"},\"wordCount\":412,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/04\\\/28\\\/carl-icahn-warns-wall-street-of-day-of-reckoning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/1461879802864.jpg\",\"keywords\":[\"fiscal stimulus\",\"non-partisan planning and selection\",\"private sector partnerships\",\"productive infrastructure\",\"public debt\"],\"articleSection\":[\"China &amp; 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Read more at Fed sticks to\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4656,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/20\/since-lehmans-collapse-chinas-money-supply-has-doubled\/","url_meta":{"origin":13220,"position":1},"title":"Since Lehman\u2019s collapse, China\u2019s money supply has doubled","author":"Colin Twiggs","date":"June 20, 2012","format":false,"excerpt":"Zarathustra: We have just discovered that China\u2019s M2 money supply has doubled once more since the collapse of Lehman brothers. M2 money supply currently stands at around RMB90 trillion, and it was at about RMB45 trillion the month before Lehman collapsed. Thus the so-called RMB4 trillion stimulus after Lehman\u2019s collapse\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9978,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/06\/04\/what-is-chinas-biggest-weakness-bloomberg\/","url_meta":{"origin":13220,"position":2},"title":"What Is China&#8217;s Biggest Weakness? | Bloomberg","author":"ColinTwiggs","date":"June 4, 2014","format":false,"excerpt":"By William Pesek: China's debt reckoning is coming. Maybe not this quarter or this year, but Chinese President Xi Jinping's unbridled effort to keep growth from falling below the official 7.5 percent target is cementing China's fate..... Why then, with so many clear examples of financial excess leading to ruin,\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21731,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/09\/30\/why-todays-fiscal-stimulus-is-not-like-wwii-eric-basmajian\/","url_meta":{"origin":13220,"position":3},"title":"Why Today&#8217;s Fiscal Stimulus Is Not Like WWII | Eric Basmajian","author":"Colin Twiggs","date":"September 30, 2020","format":"video","excerpt":"https:\/\/youtu.be\/Rq5aBHsz0V0","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/Rq5aBHsz0V0\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1560,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/25\/stimulus-spending-austerity-and-public-debt-james-galbraith\/","url_meta":{"origin":13220,"position":4},"title":"Stimulus spending, austerity and public debt: James Galbraith","author":"ColinTwiggs","date":"October 25, 2011","format":false,"excerpt":"Prof. James Galbraith on fiscal stimulus and public debt: [gigya src=\"http:\/\/d.yimg.com\/nl\/techticker\/site\/player.swf\" width=\"576\" height=\"324\" quality=\"high\" wmode=\"transparent\" allowFullScreen=\"true\" flashVars=\"vid=27057059&browseCarouselUI=hide&\"] Agree: Fiscal stimulus should not be a short-term program that will run out. The term should be 10 to 20 years so that business can make long-term plans. Stimulus spending should focus on\u2026","rel":"","context":"In &quot;US &amp; Canada&quot;","block_context":{"text":"US &amp; Canada","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/us-canada-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11517,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/02\/01\/an-unconventional-truth-by-nouriel-roubini-project-syndicate\/","url_meta":{"origin":13220,"position":5},"title":"An Unconventional Truth by Nouriel Roubini &#8211; Project Syndicate","author":"ColinTwiggs","date":"February 1, 2015","format":false,"excerpt":"Nouriel Roubini argues for increased infrastructure investment to accompany monetary easing, else the benefits of the latter will not last: Simply put, we live in a world in which there is too much supply and too little demand. The result is persistent disinflationary, if not deflationary, pressure, despite aggressive monetary\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13220"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13220\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}