Wednesday, July 6, 2016

Carlyle's Rubenstein Predicts the UK Won't Exit EU

Washington Business Journal reported:

Billionaire private equity guru David Rubenstein has some advice for those concerned about the the eventual departure of the United Kingdom from the European Union: Don't panic, it won’t happen.

Carlyle Group (NASDAQ: CG) co-founder and co-CEO, speaking at the 2016 Aspen Ideas Festival in Colorado, said he believes it's highly unlikely Brexit will actually move to completion.
Rubenstein knows that public opinion, polled or recorded into vote, does not matter to the ruling elite.  It's something to be spun to his benefit and to his fellow private equity underwriters (PEU).

He and his PEU ilk retain their preferred carried interest taxation.  Ten years ago a majority of the public opposed a secretary or gardener paying a higher tax rate than their billionaire boss.  During the same decade wage increases evaporated while employers passed higher benefit costs onto those lucky enough to have a job.

PPACA, designed by PEU Nancy-Ann DeParle, set up healthcare for the next big billionaire profitgasm.  It ignored public opinion and foisted bad coverage, which continues to accelerate in price, on citizens. 

The general public experienced a decade of stagnation, fundamentally ignored by the political elite. Rubenstein knows this deep in his bones.  It's no surprise it emanated from his mandible.