“The world is counting on the consumer coming back or China replacing it,” Jakobsen told CNBC.com, but “the banks are going for the kill, getting support from the referee (the US government) and hitting foul (not lending)."
The brawl between the US consumers who are “overall a little bit down on points” and the megabanks that are “making big bucks based on funding from the government,” is further confused with the way in which the US administration is refereeing the match, Jakobsen said.
“Thus far, they are refereeing everything naively,” much like a synchronized swimming match, he told CNBC during an on-air interview Monday.
The "rule confusion" in this match “is a combination of changing regulatory framework and a belief in government intervention,” he added.
Jakobsen -- a self-described “grumpy bear” -- said the match is confusing for investors, who are troubled by the current economic situation.
“Since mid-October, we’ve been grumpy bears,” he said, adding that “really the market is going nowhere to be honest; the dollar is slightly weaker every day."
“I see this (match) ending ugly with fatalities,” Jakobsen told CNBC.com in an interview following his on-air appearance.