That’s Leon Cooperman, the billionaire boss at Omega Advisors, joked that if Elizabeth Warren became president, the stock market might not even bother to open.
But in all honesty, it’s no joke. As is the case with all socialists, they believe the government is the answer to everything. How does the stock market work?
People with extra money to invest buy stocks in companies they expect to grow. If they do, they make money. If they don’t they lose money. They are gambling, but if Warren becomes president, it becomes a sure thing.
There will be no more reward for investing and that being the case, people will take their money elsewhere.
A little known plan of Warren’s is that companies will be forced to name employees to the board of directors. They would take up 40% of the board’s seats and you know they will vote for their perceived best interest, whether it makes economic sense or not.
They do not take any of the risks, so they do not pay for their mistakes like board members now do. And o9f course companies will have to have their profits redistributed to the workers to augment their pay.
Of course, that reduces the funds that companies have to expand and with no new investment money, companies will stagnant and die.
Market Watch reports:
Billionaire investor on Elizabeth Warren as president: Market might not even open
That’s Leon Cooperman, the billionaire boss at Omega Advisors, joking to a crowd at the Delivering Alpha conference in New York this week about what a win for the left could ultimately mean for investors.
He wasn’t joking, however, in his belief that somebody like Elizabeth Warren in the White House would be disastrous for the stock market.
“The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don’t like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won’t be pretty.
“It would be a bear market and they go on for a year and go down 25%,” he said. “You don’t make the poor people rich by making rich people poor.”…
“Her policies are counterproductive,” Cooperman said. “They’re negative for capitalism, and capitalism is what brought America into the position we’re in today.”
Meanwhile, the liberal media is doing everything it can to prop Warren up. The Washington Post recently compared her to the famous abolitionist (and Republican) Frederick Douglass – because she takes selfies.
Take a look at this:
Frederick Douglass photos smashed stereotypes. Could Elizabeth Warren selfies do the same?
They look nothing alike.
Frederick Douglass — a black man campaigning for the abolition of slavery in the 1840s — appears alone in almost every photograph, staring down the camera in isolated, thoughtful splendor. Elizabeth Warren — a white woman campaigning for the presidency in 2019 — features today in countless iPhone photos and Instagram feeds, her arm around voter after voter, always bearing the same wide grin.
The two are separated by race, gender and more than 100 years of history that forged an America that would probably be unrecognizable to Douglass. Still, experts say, their use of photography collapses the distance: Douglass sat for scores of pictures to normalize the idea of black excellence and equality, and Warren’s thousands of selfies with supporters could do the same for a female president.
“It is cognitively harder for people to think about women in the role of political leader because we haven’t seen a lot of women in political leadership,” said Nichole Bauer, a professor of political communication at Louisiana State University. “With this selfie factory, she’s normalizing that image — in the same vein that Douglass used photography.”