Paul Singer says US growth optimism is unwarranted as the data is cooked

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Paul Singer says US growth optimism is unwarranted as the data is cooked. Singer, who oversees $21B via Elliot Management Corp is someone to be taken seriously. His hedge fund has recorded only two down years since 1977. Singer writes, in a 3rd quarter letter to investors, that the market turmoil in the first half of October may be a coming attractions for the next real crash that could turn into a deep financial crisis if investors lose confidence in the effectiveness of monetary stimulus. Nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth. When confidence is lost, that loss can be severe, sudden and simultaneous across a number of markets and sectors. (VIEW LINK)

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