Michael Burry, the man who famously predicted the subprime mortgage crisis, says he has ‘done the math’ and a global financial meltdown that will lead to World War 3 is on the horizon and we are marching towards it at an ever increasing pace.
As NYMag.com reports, Burry answered questions by email, his preferred method of communication as viewers of the film will attest. The real-life head of Scion Asset Management spoke about the state of the financial system and his ominous predictions for the future.
‘I didn’t go out looking for this,’ he said. ‘I just did the math. Every bit of my logic is telling me the global financial system is going to collapse.’
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‘It’s not a question of if, but when. It’s rotten to the core.‘
Just as most of the so called “smartest men in the room” ignored his predictions last time, every status-quo-maintaining, asset-gathering, commission-taking opportunist will be quick to shrug off his warnings this time too.
Burry is arguing that ‘anyone’ who studies the financial markets ‘honestly and without prejudice’ will recognise the same flaws and arrive at the same conclusion as him. He is angry with international regulators for refusing to listen to warnings from outside a small, elite cabal of advisors.
It is almost as if they are looking out for themselves, hang the consequences.
‘I feel like I am watching a plane crash. I have this dream again and again. I know what is happening, but there is nothing I or anyone else can do to stop it.‘
Famously portrayed in 2015’s film The Big Short, Burry suffered an investor revolt before his subprime mortgage housing crisis prediction came true.
He was considered crazy, mentally ill, and dangerous. He was ostracized. When he was proved right, the justification involved a $100 million dollar profit for himself and a further $700 million for shareholders.
Baxter Dmitry
Email: baxter@thepeoplesvoice.tv
The world governments know this too hence all the preparations for war…..I’m moving back to NZ!
THIS side of the Pacific (I’m in Taiwan) will be MUCH safer than THAT side.
The world governments know this too hence all the preparations for war…..I’m moving back to NZ!
THIS side of the Pacific (I’m in Taiwan) will be MUCH safer than THAT side.
Yeah. I did the math too, which is why I’ve been saying that the worst financial collapse in human history is almost – if not already – upon us.
Just be ready.
John Little
omegashock dot com
Yeah. I did the math too, which is why I’ve been saying that the worst financial collapse in human history is almost – if not already – upon us.
Just be ready.
John Little
omegashock dot com
Man, you miquoted the magazine article you wrote this article about to make it sound like he was talking about current events as opposed to the events of 2007. On top of that, you inserted quotes that weren’t even present in the interview. Actually, he never said any of the things you quoted here. WTF?
It is a never ending circle. Our Political leaders have “0” sense of financial reality and yet we keep voting them into positions that control our Tax $$. The U.S.National debt is enough to build a house for every (tax paying) family in America. And there are 9 countries is worse shape than us. Every major Country on the Planet is in Debt. The only thing keeping the economy going are printing presses, printing $$ with nothing to back up their value. In the USA we are printing over $2,000 a second and still loosing ground. Our progress and innovations are constantly putting people out of work. At one time, it was cheaper to hire people than to buy a machine to do the work. Well, we have priced ourselves out of jobs and Machines are now cheaper labor.
Our welfare system pays so much that many do not even look for work anymore. Our system is seriously borken on a Global Scale.