Wednesday, May 11, 2016

War Profiteering, Crony Capitalist Says Recession Coming

David Rubenstein, co-founder of the Washington D.C. based crony private equity firm, says the next president will face a recession. He also says that more interest rate hikes are coming this year.

Although a recession could occur during the next presidential administration (likely?), his reasoning behind it (We have a recession every 8 years or so) is lame. The man is definitely better at cronyism than economic theory.


1 comment:

  1. The thing about many cronies is that after a while they start to ascribe their success to canniness and business acumen, rather than incredible good luck in connections.