U.S. stocks have taken a beating on fears the European debt crisis will cut into growth, while a weak May jobs report and uncertainty in general have sent equities markets tanking as well.

Talk that the Federal Reserve will print money to prop up the economy is heating up in the country's financial circles and whether that happens or not, the savvy investor should go long on the U.S. over the longer term, says Anthony Scaramucci, founder and managing partner of SkyBridge Capital, a global alternative investment firm based in New York.

The U.S. added a net 69,000 nonfarm payrolls in May, far beneath expectations for a gain of around 150,000.

Forget about short-term distractions, no matter how scary they may be.

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The dismal jobs numbers sparked talk that the Federal Reserve will consider stimulating the economy via quantitative easing, which are asset purchases from banks designed to fill financial institutions — and the economy — with job-creating liquidity.

That's possible if more weak indicators continue to hit the wire, Scaramucci tells Newsmax.TV in an exclusive interview.

"I think that the Fed at some point will do that if the numbers continue to get worse. Should they do that? That's a policy question," says the author of "The Little Book of Hedge Funds."

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Quantitative easing pushes down long-term interest rates to encourage hiring, though critics say the move is basically printing money out of thin air and plants the seeds for inflation down the road.

"What typically happens is Keynesian stimulus or monetary stimulus is that it works in the short term, it's like that hit of a drug, if you will, but then you need successively more and more of it. If spending was the solution, then Greece would be the fastest growing government," Scaramucci says.

"We do know that government spending at some point becomes a parasite on the economy."

Still, that doesn't mean that investing in U.S. fundamentals is a thing of the past.

"I do that think stocks could go any which way so I am not going to predict any short-term movements of stocks, but are the stocks cheap on an analytical basis and on a generational basis? Yes, stocks are very cheap."

Despite political gridlocks and dysfunctional political jockeying that slows or dampens policy, the U.S. is home to the most innovative population in the world

"I think it's a very, very bad move to bet against the United States and the economy long term," Scaramucci says.

"We have an unbelievably dynamic and vibrant group of people, and most of the people from other countries want to come here for a reason, and it's a culture of success that will continue to perpetuate. With or without the help of the government the economy will recover, and I do think stocks are a good investment if you are willing to hold them."

Editor’s note: To order ‘The Little Book of Hedge Funds’ at great price — Click Here Now.