SkyBridge Capital founder Anthony Scaramucci on Wednesday took a contrarian view to one of the most polarizing economic debates, even though it could have a negative impact on savers and low- and moderate-income households. He said the United States would effectively deal with the debt crisis by allowing inflation to rise slightly, if at all. Ahead of the November 5th election.
The technical default comes after the government announced its budget deficit for the fiscal year ending Sept. 30 was $1.833 trillion, an 8% increase over fiscal 2023, making it the third largest in the federal government. This further exacerbated concerns that the deadlock over the debt ceiling would recur. deficit in US history.
“There are a lot of people who think the United States is about to go into this tremendous debt crisis, and I believe that we will resolve it and prevent it from happening,” Scaramucci told Reuters・Speaked at the Global Market Forum.
The founder of SkyBridge Capital is taking a contrarian view on one of the most polarizing economic debates ahead of the Nov. 5 election. Getty Images
Scaramucci’s comments diverge from the views of several market participants, who are increasingly concerned about the sustainability of U.S. debt amid the threat of further sovereign rating downgrades.
The debate also gained momentum after market forces estimated that Republican presidential candidate Donald Trump’s economic plan would add twice as much debt as the economic plan of his Democratic opponent, Vice President Kamala Harris. .
“I like the Harris Plan better. My contemporaries on Wall Street don’t,” said Scaramucci, an investor who briefly served in the Trump administration. “They are trading into the market with high expectations that Donald Trump will win the election.”
The possibility of a second Trump administration also spurs bets that the cryptocurrency’s price will rebound, with Bitcoin nearing a record following the former president’s pledge to make the United States the “crypto capital of the planet.” are.
The budget deficit for the fiscal year ending Sept. 30 was $1.833 trillion, an 8% increase over fiscal year 2023, making it the third-largest federal deficit in U.S. history. AP
Scaramucci said Bitcoin will reach $170,000 as we approach mid-2026.
“I believe it’s coming, and again, I’m talking about a 3x rise in 18 to 24 months. There’s fixed limited supply and very high demand. “I don’t think that’s impossible for this asset, given that I think that’s the case,” he added.
Bitcoin, the world’s largest cryptocurrency, last traded at $71,865. It’s up 69% so far this year.
