Donald Trump’s economic plan speech was enough to please legendary investor Carl Icahn.
Going to twitter Tuesday, Icahn said the GOP nominee is “right on” about the U.S. economy.
“A capitalistic system cannot exist if government is at war with business. CEOs rightly so are afraid to invest in new equipment, etc. to make our manufacturing competitive. It is no surprise that today it was announced growth in productivity was down for the 3rd straight quarter and is at an all-time low,” he wrote on his website Tuesday. “Our workers cannot be productive with ‘worn out tools.’”
The billionaire candidate unveiled his economic plan on Monday in Detroit, which tilted towards reforming the U.S. tax code as well as international trade agreements and regulation. (Click here and here for more).
Speaking with CNBC, Icahn went as far as to suggest Trump would win the general election come November if he sticks with this economic theme, “because I don’t know why you wouldn’t vote for him.”
The theme he is referring to? The perceived idea of the government’s war with business.
“I never thought I would say this but we cannot blame even mediocre CEOs for not investing when they have to face regulators that are scaring the hell out of them. Instead they borrow at near zero interest rates and buy back stock,” Icahn wrote.
Like Trump, Icahn argues that manufacturing needs to be revived in America. “Democratic pundits say it is OK not to manufacture because we are a ‘service economy.’ But what does this mean? Taken to its logical conclusion all we will be producing in the near future are more text messages and more tweets to send to each other. But no problem that all the decent paying manufacturing jobs will disappear,” he argued.
“The Fed will just keep lending money at zero interest rates until the bubble bursts and we go over the proverbial cliff.”
The “Archie Bunkers of the world” should support Trump because “they know they’re getting screwed,” Icahn said on CNBC’s Fast Money. “Archie Bunker is a middle class guy, somewhat educated even, that doesn’t know where his next check is coming to send his son or daughter to school, doesn’t know if he’s going to keep his job. … Why the hell should he vote for a system that is not giving him a good paying job?”
Let me refresh your memory in case you don’t know who Archie is…
If you still don’t know…google it.
Do you think Trump’s speech was enough to make him the new POTUS?
Icahn video at –