Well-known billionaire and investor and chairman of WL Ross and Co., Wilbur Ross was on Bloomberg to discuss his views on the U.S. economy, upcoming election and policies of the current Obama administration.
-- U.S. is about to get into another freak show (aka fiscal cliff discussions in Congress).
-- He thinks nothing will happen in the lame duck session right after the election and at most they will kick the can for another three months or six months.
-- He hopes that congress will reach some consensus on extending the bush tax cuts, without which growth will be lower and unemployment will be further higher.
-- Thinks more regulation by Obama is the most horrible thing for the U.S. economy. Uncertainties related to health care and taxes are economy's biggest problem.
Credit and Source: Bloomberg, www.bloomberg.com
Here is the video:
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Dheeraj GroverI am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne