October 6, 2022

Financial expert Michael Burry, best known for his role in the hit movie “The Big Short,” predicted a dire future for China, and potentially America, in a tweet Wednesday.

Burry wrote in a now-deleted Tweet that “Chinese markets are having an “America in early 2009” moment. Fear and uncertainty are at or near their peak [but] China is too important to America, 20 times Russia. America cannot effectively fight China or sanction China without being spat on almost as severely. Just us [Lebron James].”

Burry is best known for accurately predicting the 2008 global financial crisis, which Christian Bale portrayed in “The Big Short.” In August, he was found to have liquidated almost the entire portfolio of his firm, Scion Asset Management, after warnings that the “mother of all calamities” was approaching.

The quirky financial guru deletes his tweets so often that an account was created just to share his deleted content, which posted his prophecy early Wednesday morning:

His comments come amid a major crisis in China’s housing and property sectors, which could make the troubled nation ground zero for a global financial recession, as registered by MacroBusiness. They also come days after economist Nouriel Roubini echoed Burry’s fears of a “long and ugly” recession that could potentially change the world.

Roubini predicted the potential for manufacturing to move back to Europe and the US, potentially leading to significant conflicts between the US and China. Burry’s comments on Wednesday appeared to go against these aspects of Roubini’s fears, as he suggested that the US is too dependent on China. (RELATED: Don’t worry about Pelosi’s visit to Taiwan. China attacked us years ago, didn’t you notice?)

The LeBron James aspect of it all is just another testament to Burry’s pop culture nail-biting brilliance in the macro-financial landscape. James has been consistently pro-China throughout his public life, likely due to the National Basketball Association’s close financial ties to the country.

Source link

Leave a Reply

Your email address will not be published.