“They have created a real speculative environment,” Cooperman said Monday on Bloomberg Television. “I am uncomfortable at the present time, not because of the virus, because I’m focused on something the market isn’t focused on. And that is the amount of debt that’s being created. Who pays for the party when the party is over?”
It took the U.S. “244 years to go from zero national debt to $21 trillion,” he said. “We will probably end this year with $27 trillion. That’s a growth rate in debt far in excess of what the economy is growing at and I think that’s going to be a problem down the road.”
Cooperman retired from managing client money in 2018 and converted his Omega Advisors hedge fund into a family office.
Among his other comments:
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Source: Economy - investing.com
