Barry Sternlicht on capitalism
From Why Barry Sternlicht Can't Decide Who to Vote for in 2020 Election · · Bloomberg Television
“I don't think you want to throw out capitalism I don't think there's a better system it needs to be regulated and people just like a child in the crib you you put a child you don't you don't put him in a crib with no guardrails right but he can bang himself around only wants inside the crib that's how capitalism has to be played you don't need second mortgages and these exotic derivatives that nobody can understand except some computer somewhere and then it goes off the rails because the computer model didn't model which is happened and the world falls apart on a computer.”
On , Barry Sternlicht, Chief Executive Officer & Non-Independent Executive Chairman of the Board at STARWOOD PROPERTY TRUST INC, spoke about capitalism during Why Barry Sternlicht Can't Decide Who to Vote for in 2020 Election on Bloomberg Television.
About Barry Sternlicht
Barry Sternlicht, chairman and CEO of Starwood Capital Group, discussed his company's expansion into AI data center infrastructure during an interview at the Milken Institute Global Conference. He said that Starwood has been investing in data centers for five years and is working on its first data center project in Australia, citing activity by hyperscalers in Europe and Asia. Sternlicht noted that development yields and interest rates in Australia are similar to those in the U.S. and described the firm as agnostic about geography. Sternlicht also expressed concern about wealth disparity in the United States, stating that "half the country isn't doing so great" and that this could affect politics, real estate, and taxes. He said Starwood has "shied away from blue states lately because of their propensity to tax businesses and individuals," pointing to higher growth rates in Sun Belt states such as Nashville, Dallas, Atlanta, Raleigh, and Florida. On monetary policy, he argued that if oil prices spike, the Federal Reserve should lower rates to support interest-rate-sensitive parts of the economy like housing.