Hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, warns of an impending consumer recession and further earnings problems. The crisis prophet, who also found harsh criticism about DOGE and SHIB, drew attention to the falling US personal savings and record-breaking credit card debts despite trillions of dollars in incentive funds.
Michael Burry harshly criticized DOGE and SHIB
“The Big Short” investor, Michael Burry, previously called Dogecoin (DOGE) and Shiba Inu (SHIB) “meaningless” had described. He said that Bitcoin, on the other hand, is a bubble that is vulnerable to the government built on leverage. In its latest announcements, it warns of an impending consumer recession and more earnings issues ahead.
Michael Burry is credited as the first investor to anticipate and profit from the US subprime mortgage crisis that occurred between 2007 and 2010. On Friday, he tweeted the new:
US Personal Savings fell to 2013 levels, savings rate to 2008 levels – revolving credit card debt hit its pre-Covid peak at record-breaking speed despite all those trillions of cash falling in its rounds. Coming: a consumer recession and more earnings problems.
What does Michael Burry say with his graphics?
Burry’s tweet has two images. The first shows a sharp decline in US personal savings. The other shows a sharp increase in outstanding consumer loans.
Burry’s tweet, which received 11 thousand likes and almost 2.5 thousand retweets at the time of writing, received 476 comments. Many agreed with Burry on Twitter and thanked him for raising the issue and telling others to heed his warning.
Among the comments, several people agreed with Burry that “numbers don’t lie”. Meanwhile, a growing number of people have recently been worried that a recession is either here or imminent, including Tesla CEO Elon Musk, Rich Dad Poor Dad Author Robert Kiyosaki, and Goldman Sachs senior chairman and former CEO Lloyd Blankfein. had warned. You can reach the statements of Robert Kiyosaki, whom we have transferred as Kriptokoin.com, here.
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