It’s an Extremely Dangerous Time

We suspect this will be the last time billionaire investor Carl Icahn is invited on CNBC. Having sold CNBC darling NFLX, he crushed the two main memes of CNBC’s raison d’etre – buy stocks, because where else are you going to put your money – “what’s better – making 2% or losing 30% as people did in 2008…right now it’s an extremely dangerous time;” and the next leg of this bull market will come from an improving real economy – “the economy is not picking up, it is artificial due to low interest rates.” The market has way over-estmated how long this will last, Icahn concludes, “keep your powder dry – why do have to own anything risky? It’s just nonsensical.”

“The longer [The Fed] waits to take the patient off the medicine, the more difficult it’s going to be”

Enjoy… (a very quiet CNBC crowd)

Reprinted with permission from Zero Hedge.