“There’s a significant and growing disparity between the stock market and the economy,” Billionaire Sam Zell said on CNBC’s “Squawk Box.”
“I’m looking for demand, and I find very little of it.”
U.S. multinational companies are facing significant competition overseas because the euro and the yen have depreciated dramatically, the real estate mogul said. “They’re playing with funny money.”
The dollar index, tracking against a basket of six other currencies, rose nearly 9 percent in the the first three months of the year—logging the best quarter since the third quarter of 2008. In the past year, the euro has fallen about 20 percent against the dollar, while the Japanese yen has dropped 15 percent. Here is a direct video link.
Here is a direct video link to part 2.