{"id":894984,"date":"2021-10-18T17:29:30","date_gmt":"2021-10-18T21:29:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=894984"},"modified":"2021-10-18T17:29:34","modified_gmt":"2021-10-18T21:29:34","slug":"there-will-be-a-crisis-legendary-hedge-fund-manager-warns-that-economy-will-hit-the-wall-due-to-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/there-will-be-a-crisis-legendary-hedge-fund-manager-warns-that-economy-will-hit-the-wall-due-to-inflation\/","title":{"rendered":"\u2018There Will Be A Crisis\u2019: Legendary Hedge Fund Manager Warns That Economy Will \u2018Hit The Wall\u2019 Due To Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthere-will-be-a-crisis-legendary-hedge-fund-manager-warns-that-economy-will-hit-the-wall-due-to-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=894984&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Carl Icahn \u2014 an influential hedge fund manager \u2014 warned that the United States economy will experience a crisis due to rising inflation.<\/p>\n<p>\u201cIn the long run we are certainly going to hit the wall,\u201d Icahn told <a href=\"https:\/\/www.cnbc.com\/2021\/10\/18\/carl-icahn-says-the-market-over-the-long-run-will-certainly-hit-the-wall-because-of-money-printing.html\">CNBC<\/a>. \u201cI really think there will be a crisis the way we are going, the way we are printing money, the way we are going into inflation. If you look around you, you see inflation all around you and I don\u2019t know how you deal with that in the long term.\u201d<\/p>\n<p>CNBC states that Icahn was hesitant to make an official prediction about the timing for any inflation-driven fallout.<\/p>\n<p>Icahn \u2014 who has a <a href=\"https:\/\/www.bloomberg.com\/billionaires\/profiles\/carl-c-icahn\/\">net worth<\/a> of $22 billion and worked as Special Advisor to the President on Regulatory Reform during the Trump administration \u2014 has participated in corporate raids of firms such as Trans World Airlines and Marvel Comics.&nbsp;<\/p>\n<p>Icahn is not the only business leader to express concern over rising price levels. Marc Rowan \u2014 the CEO of Apollo Global Management, which controls $472 billion in assets \u2014 said in another interview that inflation is <a href=\"https:\/\/www.dailywire.com\/news\/ceo-of-top-investment-firm-says-inflation-is-hitting-entire-portfolio\">affecting<\/a> every portion of his company.<\/p>\n<p>\u201cThere\u2019s not a place [where we are not seeing inflation]. Everything that we once did now costs more,\u201d Rowan explained. \u201cLead times, pressure on inventory, pressure on supplies, pressure on employment. Our experience in our portfolio is really no different than the broader economy.\u201d<\/p>\n<p>As the United States economy recovers from COVID-19 and the lockdown-induced recession, several important inflation metrics used by policymakers have hit record highs.<\/p>\n<p>For instance, the Bureau of Economic Analysis <a href=\"https:\/\/www.dailywire.com\/news\/key-inflation-measure-at-highest-level-since-1991-outpacing-income-growth\">revealed<\/a> that personal consumption spending rose by $130.5 billion dollars in August \u2014 representing a 4.3% year-over-year hike in the Personal Consumption Expenditures Price Index. The statistic \u2014 used by the Federal Reserve to set its inflation rate targets \u2014 has risen for the past several months, hitting a 3.6% year-over-year growth rate by April before rising to 4.0% in June and 4.2% in July.<\/p>\n<p>The Social Security Administration\u2019s cost-of-living adjustment \u2014 increased yearly to reflect changes in price levels \u2014 saw a 5.9% <a href=\"https:\/\/www.dailywire.com\/news\/social-security-inflation-adjustment-will-rise-by-5-9-reflecting-carter-years\">hike<\/a> for 2022. The change is in line with rates witnessed early in President Carter\u2019s tenure \u2014 5.9% in 1977 and 6.5% in 1978.<\/p>\n<p>Several conservative policymakers are likewise concerned about the rising price levels. During a recent press conference, Gov. Ron DeSantis (R-FL) <a href=\"https:\/\/www.dailywire.com\/news\/desantis-on-bidenflation-an-invisible-tax-on-the-american-people\">argued<\/a> that inflation is more salient than most economists are willing to admit.&nbsp;<\/p>\n<p>\u201cThis inflation is real. This<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carl Icahn \u2014 an influential hedge fund manager \u2014 warned that the United States economy will experience a crisis due to rising inflation.\u201cIn the long run we are certainly going to hit the wall,\u201d Icahn told CNBC. \u201cI really think there will be a crisis the way we are going, the way we are printing money, the way we are going into inflation. If you look around you, you see inflation all around you and I don\u2019t know how you deal with that in the long term.\u201dCNBC states that Icahn was hesitant to make an official prediction about the timing for any inflation-driven fallout.Icahn \u2014 who has a net worth of $22 billion and worked as Special Advisor to the President on Regulatory Reform during the Trump administration \u2014 has participated in corporate raids of firms such as Trans World Airlines and Marvel Comics.\u00a0Icahn is not the only business leader to express concern over rising price levels. Marc Rowan \u2014 the CEO of Apollo Global Management, which controls $472 billion in assets \u2014 said in another interview that inflation is affecting every portion of his company.\u201cThere\u2019s not a place [where we are not seeing inflation]. Everything that we once did now costs more,\u201d Rowan explained. \u201cLead times, pressure on inventory, pressure on supplies, pressure on employment. Our experience in our portfolio is really no different than the broader economy.\u201dAs the United States economy recovers from COVID-19 and the lockdown-induced recession, several important inflation metrics used by policymakers have hit record highs.For instance, the Bureau of Economic Analysis revealed that personal consumption spending rose by $130.5 billion dollars in August \u2014 representing a 4.3% year-over-year hike in the Personal Consumption Expenditures Price Index. The statistic \u2014 used by the Federal Reserve to set its inflation rate targets \u2014 has risen for the past several months, hitting a 3.6% year-over-year growth rate by April before rising to 4.0% in June and 4.2% in July.The Social Security Administration\u2019s cost-of-living adjustment \u2014 increased yearly to reflect changes in price levels \u2014 saw a 5.9% hike for 2022. The change is in line with rates witnessed early in President Carter\u2019s tenure \u2014 5.9% in 1977 and 6.5% in 1978.Several conservative policymakers are likewise concerned about the rising price levels. During a recent press conference, Gov. Ron DeSantis (R-FL) argued that inflation is more salient than most economists are willing to admit.\u00a0\u201cThis inflation is real. This inflation is upending a lot of things,\u201d he said. \u201cThey said it was just going to be transitory \u2014 it\u2019s not transitory. You look at how much things have gone up year-over-year \u2014 these are stiff increases, and it\u2019s basically an invisible tax on the American people.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-894984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/894984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=894984"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/894984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=894984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=894984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=894984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}