Back in May 2008, Carl Icahn predicted how Barack Obama's policies, if Obama were elected president, would impact the economy. So far, Icahn's prophecy is coming true.

According to a May 22, 2008 Bloomberg article by Michael McGee:

Billionaire investor Carl Icahn said Barack Obama would be a "terrible" U.S. president whose election would bring higher interest rates and a loss of international confidence in the dollar.
 
"I don't normally get involved in politics, but this time I am," Icahn told an investors conference in New York last night. "I don't think Obama really understands economics."

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"I personally think he would be a terrible president," Icahn, 72, said. Obama would probably go on a "huge spending spree" that "the country can't afford right now."

Coupled with the higher tax rates that the Illinois senator has already endorsed, "you would have a loss of confidence in the dollar," leading to accelerating inflation and "much higher interest rates," Icahn said.

Even worse, Icahn said, would be a Democratic president with a veto-proof supermajority of 60 Democrats elected to the Senate.

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"It would be devastating," he said. "Then you couldn't stop runaway legislation."