Billionaire Michael Bloomberg sends hard-nosed message on economy
The Wall Street veteran has a blunt take on the U.S. economy.
The U.S. economy could be at a critical point.
For years, the U.S. government has embraced breakneck spending, causing larger deficits and soaring debt levels that may require trillions of dollars in interest payments over the coming decades.
The economic situation could have a dire impact if it means the government is forced to restructure its debt, something billionaire Ray Dalio has previously suggested.
Related: Billionaire Ray Dalio's blunt message on economy turns heads
The risk of a potential economic reckoning isn’t lost on those who have seen a thing or two over decades of analyzing markets, including Michael Bloomberg, the billionaire founder of the Bloomberg terminals commonly found on the desks of most major hedge funds, mutual funds, and trading operations.
