Business mogul predicts 'probable recession' in 2024, suggests US is entering the 'seven lean years' of biblical prophecy
When asked on"The Claman Countdown" about the Federal Reserve's continual rate hikes and whether they will finally break commodity price hikes that are a key element of inflation, Cooperman said quantitative tightening is indeed having an effect on economic outlook. Cooperman blamed both political parties for the current malaise. He said that although President Biden and the Democrats continue to spend trillions while overseeing inflation spike, former President Donald Trump and Republicans ran a $1 trillion deficit during a time of fuller national employment.Hedge Fund Manager Leon Cooperman has suggested there are"lean years" to come economically, using a famous prophecy in the Bible to explain.
"The dream was interpreted by Joseph, and the dream was in the Bible," Cooperman said."His dream was we could have seven lean years following the seven fat years. I think we've had very, very aggressive fiscal policy."