Market Overview

Deficits, Spending, Education: Langone Thinks The Economy Is In Big Trouble

Deficits, Spending, Education: Langone Thinks The Economy Is In Big Trouble
Related HD
Jon Najarian Sees Unusual Options Activity In Home Depot And T-Mobile
Are Listed Home Improvement Companies On The Mend?
Culbertson A N & Co Inc Buys WisdomTree MidCap Earnings Fund, WisdomTree SmallCap Earnings ... (GuruFocus)
Related SPY
A Roadmap To How An ACA Repeal Bill Could Hit Trump's Desk By Memorial Day
Failing To Decentralize State-Run Economy Could Be Big Trouble For China
Hollencrest Securities Llc Buys SPDR S&P 5……, SPDR Select Sector Fund - Health Care, ... (GuruFocus)

"We are in trouble — we are in serious trouble," Ken Langone of Invemed Associates said on Wednesday when he was a guest on CNBC's "Squawk Box" segment.

The co-founder of Home Depot Inc (NYSE: HD) and CEO of the venture capital fund Invemed offered several reasons why he thinks the economy and political system are "in serious trouble."

First, he noted 71 percent of the U.S. federal budget is related to entitlements. Second, current interest rate levels are both "historically" and "unrealistically" low. Third, the public education system is "getting worse."

Related Link: EconSpeak Talks Negative Interest Assets: If They Continue, Big Government Must Step In

He emphasized the need for education reform and argued that young kids who do not have the opportunity to get a proper education miss out on the opportunity to "participate in a thriving and dynamic society."

"When we take that away, what's left?" he questioned.

Langone also suggested that students should learn a valuable trade instead of taking part in a two-year higher education program, which more often than not is funded through evening and weekend jobs. He noted that these students "have the right motives" and "want to participate in this great thing called America."

"And they should," he concluded. "But we aren't giving these kids a shot."

Posted-In: CNBC Invemed Associates Ken LangoneCNBC Education Economics Media General Best of Benzinga


Related Articles (SPY + HD)

View Comments and Join the Discussion!