Investor is renowned for his 2023 predictions of the 2008 crash

Michael Burry is the Scion Asset Management founder. His story was featured in “The Big Short” He predicted the 2008 financial crash and predicted a slowdown for the new year. inflation Außerdem können Sie auch eine Auswahl an Büchern ansehen. recession.

Economic Inflationary pressures have caused volatility to persist. labor Backlog and shortages supply chainsThis led to negative growth in the second half of last year. The policymakers at Federal Reserve As geopolitical pressures increase around the globe, we are currently engaging in the most aggressive campaign to reduce prices for decades.

Burry remarked On social media, it was stated that year-overyear changes in Consumer Price Index will continue their decline and may turn negative in second half of 2018. “Inflation peaked,” He stated, “but it is not the last peak of this cycle.”

Former physician predicted that the United States would enter recession by the end the year. This led the Federal Reserve to reduce target interest rates, prompting lawmakers and encouraging them to pass stimulus measures. “another inflation spike.”

Burry was famous for his bet against technology stocks during the dotcom bubble. According to a report, he earned 55% returns and the S&P 500 dropped 12%. profile Business Insider. After reviewing bank balance sheets and subprime data on mortgages, he shorted housing market. He made $100 million for himself and $700 millions for his investors. The basis for “The Big Short,” This book was published by Michael Lewis and later made into a movie with Christian Bale playing Burry.

After he was fired, the financier made headlines a few months back. reduced his company’s stock holdings from $165 million to $3.3 million, selling all assets except for 500,000 shares of GEO Group, which invests in private prisons and mental health systems.

Economists foresee the United States entering recession before the end of the year. 70% of economists predict a recession. surveyed Bloomberg predicted last month that the economy would experience a prolonged recession. It forecast that the gross domestic product would record flat readings in the third and fourth quarters, and that it would see a 0.7% annualized drop in the second quarter. Similar findings were made by Bloomberg last month. They predicted that the economy would enter a prolonged retraction. The prediction was that gross domestic product would show flat readings in the first and third quarters, as well as a 0.7% annualized decline in the second quarter. poll According to the National Association for Business Economics most respondents believed that recessionary risk has exceeded 50% because of slower growth and a weaker labor market.

No consensus exists on the economic futures of the next few months. Michael Hartnett, Bank of America Chief Investment Strategist, said in a report Before markets achieve a recovery, a recession is likely to strike the first half year. “much more solid footing,” While an outlook Jan Hatzius, Goldman Sachs Chief Economic Officer, noted that analysts at the firm believe the economy will continue to grow. “stick a soft landing” Avoid a recession completely

The highest record for the year was set last year gas prices Record and one of the worst stock market performances in history. The S&P 500 index plunged nearly 20% in the past year. This is comparable to the 37% drop in 2008 due to the collapse of banks and the 12% and 22% drops that were experienced in 2001 and 2002 during the dot-com boom.

The low returns which were erased roughly one-quarter of equity from the typical American’s retirement account, occurred despite optimism at the beginning of last year from President Joe Biden, who boasted The stock market was around 20% “higher than it was when my predecessor” he was in office.