“The United States is in danger of falling into another recession, while monetary-stimulus measures are artificially pumping up stock prices well above where they should be and doing nothing for the fundamental economy, said billionaire real-estate magnate Sam Zell.
The Dow Jones Industrial Average is currently trading around 13,515 thanks mainly to Fed intervention, but strip out monetary support and the index would likely fall more than 4,000 points if corporate and economic fundamentals truly reflected share prices, said Zell.
“I think the environment is tough, confidence is low,” Zell told CNBC.”
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