Billionaire investor Carl Icahn said Barack Obama would be a "terrible" U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.
"I don't normally get involved in politics, but this time I am," Icahn told an investors conference in New York last night. "I don't think Obama really understands economics."
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"I personally think he would be a terrible president," Icahn, 72, said. Obama would probably go on a "huge spending spree" that "the country can't afford right now."
Coupled with the higher tax rates that the Illinois senator has already endorsed, "you would have a loss of confidence in the dollar," leading to accelerating inflation and "much higher interest rates," Icahn said. His comments, and remarks by other presenters at the conference, were embargoed by the organizers until (yesterday) morning.
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