I’m a free-trader, and TPP is good for American business, says Stan Druckenmiller, Duquesne Capital founder, sharing his concerns about Trump’s trade talk but says while it is definitely a negative it is being over-sized relative to the opportunity on the deregulation and tax reform side. From CNBC
DRUCKENMILLER ON TRYING DEREGULATION
TO ME IT’S BEEN VERY FRUSTRATING TO WATCH MONETARY RADICALISM THE LAST 4 YEARS BE THE ONLY THING ADDRESSING OUR ISSUES. AND EVERY TIME I’VE TALKED ANYWHERE I SAID COULD WE JUST TRY DEREGULATION AND TAX REFORM? COULD WE JUST TRY IT? AND IT LOOKS VERY LIKELY WE’RE GOING TO GET THAT.
DRUCKENMILLER ON BEING OPTIMISTIC
THIS ECONOMY IS SO OVERREGULATED AND PEOPLE ARE JUST DROWNING IN RED TAPE THAT THE REMOVAL OF THAT, AND THEN I’M EXPECTING SERIOUS TAX REFORM WITH CUTS TO THE CORPORATE TAX RATE, MAYBE A BLENDED RATE OF UNDER 10% TO REPATRIATE CAPITAL. SO I’M QUITE, QUITE OPTIMISTIC ON THE ECONOMY. AS ALWAYS OPEN MINDED, BUT VERY OPTIMISTIC.
DRUCKENMILLER ON GOLD
[drizzle]I SOLD ALL MY GOLD THE NIGHT OF THE ELECTION. ALL THE REASONS I HAVE OWNED IT FOR THE LAST COUPLE YEARS, IT SEEMS TO ME THEY MAY BE ENDING. AND BY THE WAY, THEY’RE ENDING GLOBALLY. THIS IS, YOU KNOW, TERESA MAY. THIS IS A WORLDWIDE PHENOMENON WE’RE LOOKING AT. THE LAST PEOPLE ON THE CABOOSE OF COURSE ARE THE EUROCRATS WITH THE HIGH PRIEST MARIO DRAGHI. BUT I THINK THEY’LL PROBABLY GET IT EVENTUALLY. THEY’LL BE DRAGGED KICKING AND SCREAMING.
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