First Eagle's Matthew McLennan Predicts US Headed For Debt Crisis With Fiscal Deficit Being At 'Worst Structural Point Since World War II'
Portfolio Pulse from Benzinga Neuro
Matthew McLennan, co-head of First Eagle's Global Value team, warns that the U.S. is heading towards a significant debt crisis due to a fiscal deficit at its worst structural point since World War II. He highlights that the U.S. government’s spending has surpassed tax revenues by $1.5 trillion over the past year, amounting to 5.5% of the nation’s GDP. Despite his bearish stance, McLennan finds gold appealing as an investment hedge and sees value in stocks like Meta Platforms Inc and Oracle Corporation.
October 05, 2023 | 9:24 am
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Matthew McLennan, co-head of First Eagle's Global Value team, sees value in Meta Platforms Inc despite his bearish stance on the U.S. economy.
Matthew McLennan's positive outlook on Meta Platforms Inc, despite his bearish stance on the U.S. economy, could potentially drive investor interest towards the company, positively impacting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Matthew McLennan, co-head of First Eagle's Global Value team, sees value in Oracle Corporation despite his bearish stance on the U.S. economy.
Matthew McLennan's positive outlook on Oracle Corporation, despite his bearish stance on the U.S. economy, could potentially drive investor interest towards the company, positively impacting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75