Stanley Druckenmiller on Bloomberg TV

Duquesne Capital Founder Stanley Druckenmiller was on Bloomberg TV today to discuss his views on the economy, the demographic bubble and U.S politics. It is a really interesting interview with a very smart guy. He basically makes a big outline of how the fundamentals of the market and the economy will cause significant damage in the not too distant future. He thinks the upcoming calamity will be bigger than 2008. He is really focusing on the demographic and fiscal imbalances of our economy and how that will trickle down and punish the markets. He goes on to say that he thinks equities are not cheap. We have a 9% deficit to GDP and if you normalize margins and demands the S&P is not that cheap. They are cheap relative to bonds but that is a terrible comparison. Overall the interview is quite enjoyable and well worth watching. Enjoy.