Home Depot co-founder Ken Langone thinks the American people “are fed up and disgusted” with the U.S. political system in general and called for term limits.
The CEO of the venture capital fund Invemed Associates says while he will still vote for Donald Trump, he fears Hillary Clinton will win the White House. But her economic policies are doomed to fail and she will end up being a one-term president.
“The issue is the anger of the American people … that they would embrace Bernie Sanders the way they did and they would embrace Donald Trump the way they did,” he told Fox Business Network.
“Like it or not, Trump took out 16 establishment people. There's a message here. The message is the American people are fed up and disgusted,” he said.
“You know what? So am I. We need term limits in America in the worst way,” he said.
“Let's worry about what's right for America. The last eight years have not been good for the middle class in America, not good at all. The numbers speak for themselves,” he said.
“Public education is a disaster in America. The economy is not strong, and it hasn't been strong. At best it's a tepid recovery. Used-truck prices are down. Housing starts are starting to slow up. The tenor in the country right now is not robust," he explained.
“So Hillary come in, do what you're going to do, raise my taxes, do whatever you have to do, but if you don't address the basic issues of what ails America, we're gonna be worse. And she’ll be a one-term president,” he said.
Langone said he will still vote for Trump. “I gave Trump $2,700 and I'm voting for him. That's it.”
Meanwhile, not all respected financial voices are as pessimistic about the future of the economy. One of the most beloved investors of our generation has said it actually doesn't matter who wins the White House this time around. The American economy will thrive and survive.
Investment icon Warren Buffett has bemoaned the "negative drumbeat" on the U.S. economy from presidential candidates in his annual Berkshire Hathaway Inc. shareholder letter earlier this year, saying they are misleading Americans into believing their children will be worse off than they are, Reuters reported.
"It's an election year, and candidates can't stop speaking about our country's problems (which, of course, only they can solve)," Buffett wrote, italicizing "they" for emphasis.
As a result of their dour outlook on the U.S. economy, many Americans now believe that their children will not live as prosperously as they themselves do, the 85-year-old Buffett said.
"That view is dead wrong: The babies being born in America today are the luckiest crop in history," Buffett said.
“If either Donald Trump or Hillary Clinton becomes president, and one of them is very likely to be, I think Berkshire will continue to do fine,” Buffett, 85, said at the company’s annual shareholders meeting in Omaha, Nebraska.
“Twenty years from now, there’ll be far more output per capita in the United States in real terms than there is now. In 50 years, it’ll be far more,” Buffett said. “No presidential candidate or president is going to end that. They can shape it in ways that are good or bad, but they can’t end it.”
(Newsmax wire services contributed to this report).
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