Investor launches into breathless rant about REAL financial situation
by PAUL JOSEPH WATSON | FEBRUARY 11, 2015
Investor Steve Ricchiuto stunned CNBC hosts when he launched into a breathless rant about how there is no real economic recovery and that the Federal Reserve’s forecasts are pie in the sky.
Ricchiuto, Managing Director of Mizuho Securities USA, left anchors Simon Hobbs and Sara Eisen scrambling for words as he reeled off a barrage of factors as to why there is no acceleration in economic activity.
“There is no acceleration in underlying economic activity.”
“There’s this wrong concept that I keep on hearing about in the financial press about the acceleration in economic growth… It isn’t happening!”
“We had a horrible retail sales number, we had a horrible durable goods number, we’re likely to have a very disappointing retail sales number coming forward, this month we have a strong payroll…
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