Michael Burry, a hedge fund manager famous for predicting the financial crisis of 2008, has issued a warning about “an lengthy multi-year recession” in the United States. He thinks that there is no plan to get us out of “this terrible recession.”
The Recession Warning from Michael Burry
Michael Burry, a well-known investor and the founder of Scion Asset Management, has issued a warning about a “serious recession” that will persist for several years.
In “The Big Short,” a Michael Lewis book on the mortgage crisis that was adapted into a Christian Bale-starring motion picture, he is highlighted.
A recession was mentioned in a Tuesday tweet by the Big Short investor.
What plan can rescue us from this genuine recession?
We are therefore genuinely facing a protracted, multi-year slump.
Burry has previously issued multiple recessionary warnings.
The Big Short investor issued a warning in May about an impending consumer recession and new profits problems.
Often referred to as Dr. Doom, NYU professor Nouriel Roubini responded to Burry’s tweet by writing: “Some of us have been anticipating a protracted and severe recession and provided a detailed argument for why we are headed into a Great Stagflationary Debt Crisis.” He added: I have personally stated all year that the impending recession is not going to be “short and shallow.” in another tweet.