Fun

‘Big Short’ Investor Michael Burry Warns of Extended Multi-Year Recession in US

News Feed - 2022-12-02 11:12:52

"Big Short" Investor Michael Burry Warns of Extended Multi-Year Recession in US


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.” Michael Burry’s Recession Warning


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.


The Big Short investor tweeted about a recession Tuesday. He wrote: 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.


Burry has warned about a recession several times in the past. In May, the Big Short investor cautioned about a looming consumer recession and more earnings trouble.


In April, he said that the Federal Reserve “has no intention of fighting inflation,” adding that “The Fed’s all about reloading the monetary bazooka. So it can ride to the rescue & finance the fiscal put.”


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: I have myself argued all year that the coming recession will not likely be ‘short and shallow.’


This week, Tesla CEO and Twitter chief Elon Musk also warned 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.” Tags in this story big short investor, big short investor recession, michael burry, Michael Burry Fed, michael burry inflation, Michael Burry recession, Recession


Do you agree with Michael Burry about an extended multi-year recession? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately ECONOMICS | 1 day ago Venezuelan Currency Plunges Almost 40% Against the US Dollar, Analysts Cite Crypto Drought as Part of the Problem ECONOMICS | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleKevin O’Leary, Bill Ackman Slammed for Defending Sam Bankman-Fried — ‘I Think SBF Is Telling the Truth’ Next articleProof-of-Reserves Are at ‘Best Incomplete, at Worst Misleading and Deceptive’ Says Crypto Analyst Martin Hiesboeck Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Tron’s Stablecoin USDD Falls to $0.97, USDC Deployed to Defend the $1 Parity
Tron"s Stablecoin USDD Falls to $0.97, USDC Deployed to Defend the $1 Parity After the Terra UST fallout and the current crypto market volatility, many eyes have been focused on th
Solana hits new all-time high against Ethereum, but is $200 SOL price within reach?
Zoltan Vardai8 hours agoSolana hits new all-time high against Ethereum, but is $200 SOL price within reach?Solana’s price could rally to $200 if SOL manages to flip $148 into a support level, technical analysis suggest
Central Bank of Argentina Prepares New Regulations for Digital Wallets
Central Bank of Argentina Prepares New Regulations for Digital Wallets The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the tota
Amaka Nwaokocha38 minutes agoXRP lawyer John Deaton joins LBRY case as amicus curiaeDeaton is known for his active engagements in legal proceedings and discussions surrounding cryptocurrency regulations and legal actions
Prashant Jha12 hours agoKenya forms parliamentary committee to investigate WorldcoinThe controversial crypto project’s launch has been marred into controversy, and it’s already facing investigations in nearly half a
More Than $220M in Bitcoin Withdrawn from Crypto Exchanges Since the Halving
More Than $220M in Bitcoin Withdrawn from Crypto Exchanges Since the HalvingIn mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading pl
Ezra Reguerra9 hours agoDubai’s crypto regulator VARA switches leadership as it ramps up operationsOutgoing head Henson Orser will remain a consultant after Matthew White takes over as the new CEO of Dubai’s Virtual
Panther Protocol’s $ZKP Token Launches, Sets to Revolutionize Private Finance
Panther Protocol’s $ZKP Token Launches, Sets to Revolutionize Private Finance sponsored In the growing DeFi panorama, both institutional traders and retail investors are starting
Turner Wright12 hours agoJudge grants DOJ motions barring testimony of Sam Bankman-Fried’s witnessesJudge Lewis Kaplan left the door open for SBF’s defense team to call some of the precluded witnesses in response to
XRP High Stakes Setup: Analyst Warns Of Sharp Move To $17 Or $0.65
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Noncustodial Bitcoin Cash Client Zapit Demos In-Wallet SLP Dividends Tool
Noncustodial Bitcoin Cash Client Zapit Demos In-Wallet SLP Dividends ToolDuring the last week, Bitcoin Cash proponents have been discussing Zapit, the noncustodial BCH wallet that a
Crypto startup funding grows to $2.7B in Q2 despite fall in total deals
Tom Mitchelhill2 hours agoCrypto startup funding grows to $2.7B in Q2 despite fall in total dealsCrypto infrastructure projects led the way in attracting venture capital with major infra projects raising a combined $685