While stocks may continue to rise for a while because companies are buying back shares and retail investors are coming back to the market in search of returns, the gains probably won’t last, Druckenmiller said.
“The chances of this being a new bull market like 1982 aren’t high because we’re not attacking the crux of the problem, which is too much leverage and too much debt,” he said. “I don’t know the timing of when the markets will respond to this, but it will happen.”
Druckenmiller said his next step is to talk to young people directly, including at his alma mater, Bowdoin College in Brunswick, Maine.
“Look at our young people who are obsessed with the environment,” said Druckenmiller, who sits on the board of the Environmental Defense Fund. “They are looking at the consequences of our actions 50 to 60 years from today.”
His goal is to get them to have the same far-sighted reaction to their economic future.
“With the proper education and with proper voices out there, we could have 40 million kids marching down to Washington.”