In an interview with CNBC today, billionaire investor Carl Icahn warned that the economy is still "on a precipice." Because the market is acting "schizophrenic," a stock recovery does not, he said, necessarily indicate that the economy is cured.
"It's a myth to say the market is a good indicator of the economy. I think individuals are much more of an indicator," he said.
Urging caution, Icahn said that the future of the economy is still uncertain:
"It could really go either way. I don't think anybody can really say which way it's going to go," he said. But Icahn described one grim scenario: "If you get a double-dip recession and they start coming down, it's going to be a bit of a bloodbath."