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After coronavirus, the U.S. will ‘never return to free-market capitalism as we knew it,’ says Guggenheim’s Minerd

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Scott Minerd, global chief investment officer at Guggenheim Partners isn’t optimistic about the economic recovery from the coronavirus epidemic, and he worries the tepid rebound could lead to a “populist revolt to address massive inequality of income and wealth.”

 

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In 09 In a room full of financial advisors. The key note speaker, a respected industry leader. Proclaimed “markets would never return to pre crash levels.” Scared the hell out of me. Well it did, Dow almost hit 30k before COVID19 Don’t under estimate the american spirt!!

Doesn't sound great for our 401k accounts you forced us into

Capitalism does not work as far as having a nice place to live.

Been destroyed the last 12 years by the FED even before the virus

More like never return to the illusion of free market capitalism.

Bullshit. I’m calling bullshit. We will get back to whatever the rulers want to get back to doing once this is over. If we’re lucky, then we can participate.

Manufacturing must return to US; the Republicans should not be able to give corporations tax incentives to offshore jobs for cheap labor like they have the past 30 years! Manuf will provide jobs and lessen dependence on China

America was never a true 'free market' and neither was anywhere else.

I have ocean front property also

There hasn’t been anything close to a free market in at least 100 years.

'free market' hahah

Oh noes...this is a bad thing, really! Sounds horrible 😂😂😂

Fortunately Minerd is wrong and probably advising his bosses to short the market. What did he and his friends say and do in 2008?

Just wait ...

Ok cool.

Bullshit.

umm, it never was

All this doom and gloom. Enough already

Yeah, it will. You guys failed. The markets are coming back. And, in November, it becomes permanent. Spoiler: Capitalism wins.

Nope. The FED took over the Markets. The insiders will buy what the FED buys.

This is the most bizarre lie yet.

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Guggenheim’s Scott Minerd: U.S. Coronavirus Programs Will End Free-Market Capitalism as We Know ItThe U.S. government’s coronavirus-relief programs “are insufficient, misdirected, and full of unintended consequences,” according to Minerd, who co-manages... he's spot on. the market is no longer allowed to decide what a company is worth when the fed buys up all their junk debt. literal junk like $HYG. Everything is becoming nationalized and now citizens own junk corp debt.
Source: MarketWatch - 🏆 3. / 97 Read more »

Guggenheim’s Scott Minerd: U.S. Coronavirus Programs Will End Free-Market Capitalism as We Know ItThe U.S. government’s coronavirus-relief programs “are insufficient, misdirected, and full of unintended consequences,” according to Minerd, who co-manages... he's spot on. the market is no longer allowed to decide what a company is worth when the fed buys up all their junk debt. literal junk like $HYG. Everything is becoming nationalized and now citizens own junk corp debt.
Source: MarketWatch - 🏆 3. / 97 Read more »