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Druckenmiller sees storm worse than ’08 as seniors steal

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Stan Druckenmiller, chairman and chief investment officer of Duquesne Family Office LLC, one of the best-performing hedge fund managers in the past 30 years, warns the youth of America that seniors are out to steal their money. What Druckenmiller is getting at is that the mushrooming costs of Social Security, Medicare and Medicaid, with unfunded liabilities as high as $211 trillion, will bankrupt the nation’s youth, making the $16 trillion of debt being debated in Congress look trivial in comparison, and the $29 trillion of value wiped out by the 2008 financial crisis look like a minor accounting error.