The 'Big Short' investor Michael Burry has warned about 'an extended multi-year recession' in the U.S. inflation
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about “an extended multi-year recession” in the U.S. He believes there isn’t a strategy to pull us out of “this real recession.”Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has warned about a “real recession” that will last multiple years.
Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.What strategy will pull us out of this real recession? What forces would pull us so? There are none. So we are really looking at an extended multi-year recession. Who is predicting this? There are none.
NYU professor Nouriel Roubini, who is sometimes known as Dr. Doom, replied to Burry, tweeting: “Some of us have been predicting a long and severe recession and made a detailed case for why we are headed towards a Great Stagflationary Debt Crisis.” In another tweet, he wrote:This week, Tesla CEO and Twitter chief Elon Musk also
about a severe recession. He urged the Federal Reserve to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.”
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