MICHAEL BARRY, the legendary investor from Wall Street and the founder of the “Skion Capital” fund, which led to the great crisis of 2008, believes that the “mother of all financial crises” is waiting for us.
Barry, who first predicted a major crisis in the US real estate market in 2008 and which eventually flooded the world, believes that investors in the stock markets have played too much, which in combination with inflation does not lead to anything good.
– We have more speculations than in the 1920s, which led to the Great Depression in 1929. We have more valuations than in the 1990s, which led to the crisis in the early 2000s, Barry wrote on Twitter.
He stated that the salaries of workers have stagnated this year, which, along with high inflation rates, has impoverished most people.
-Real wages, if we adjust them for inflation, have fallen by 2.2 percent in the United States this year. It seems to me that this is the only really important news in a manic year. Inflation is nothing but a mass tax, don’t forget that, he wrote, writes the Bonitet portal, Blic biznis reports.
Before that, the portal reminds, on the topic of speculations on the stock exchanges, he said in June that they are a sign of the “mother of all failures”: in which the US Department of Economy is located, ie the real sector,) will be measured in the size of the GDP of individual countries.
Earlier, Warren Buffett, an American billionaire and investment guru, announced in a recent interview with CNBC that another pandemic was coming, which could be worse than the current pandemic. The so-called Dr. Doom or Nouriel Rubini, who predicted the economic crisis from 2008, and now claims that 4 scenarios are possible, does not have good news either.
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