James Altucher: The ECB Can Still Print Money

By on November 11, 2011

James Altucher, managing director of Formula Capital, was interviewed on CNBC this morning. He indicated worries regarding Europe were misplaced for investors in U. S. markets.

Altucher compared today’s environment to that of South America in 1981 when all countries defaulted and U. S. banks were exposed “263%.” He said that led to a 20 year bull market run.

Altucher said U. S. exports were reported yesterday to be at an all-time high so nothing has effected the U. S. economy yet. He indicated the U. S. is seeing good economic results because of the turmoil in Europe. Altucher stated money is coming into the U. S. due to the problems in Europe.

When asked why U. S. leaders were worried about Europe, Altucher said it was because of the media and the headlines in the newspapers. Altucher indicated that comparisons to the Lehman bankruptcy were not valid since Lehman disappeared. He added that, “Italy is not going to disappear.”

Altucher said Italy borrowed $150 billion yesterday but no U. S. banks were listed as a lender.

Altucher said the ECB is not following the U. S. example of printing money which remains, “a tool in their tool shed that they haven’t even bothered to use yet.” They are “borrowing on one hand and lending on the other.”

Back in October 2008, Altucher gave seven reasons to be bullish on the stock market (link).

One Comment

  1. Jerry Springman

    November 12, 2011 at 5:18 pm

    Nice hair dude. Don’t think you can compare South America in 1981 to Europe now. A bunch of banana republics, which is what S. A. was back then, don’t compare to the massiveness of the Euro zone now.

    I bet women love that hair.

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