Thursday, February 21, 2013
Stanley Druckenmiller on CNBC
The legendary Stanley Druckenmiller was on CNBC today discussing the fiscal issues the country faces. He said that while this isn't really directing the market at present it will have a substantial impact on the market in the not too distant future. My favorite stat from his talk - a few years ago the U.S. had $10 trillion in debt, now we have $16 trillion and yet the cost to service the debt is now 20% lower than it was previously - this is not sustainable. Just think about that statement for a minute - it truly is staggering. Enjoy.