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The investor who predicted the 2008 crisis: The mother of all financial crises is upon us

2022-10-25 14:04:32Kosova&Bota SHKRUAR NGA REDAKSIA VOX
The investor who predicted the 2008 crisis: The mother of all financial crises
Michael Berry

Michael Berry, the legendary Wall Street investor and founder of the Scion Capital fund that led to the Great Depression of 2008, believes that the "mother of all financial crises" is upon us. 

Barry, who was the first to predict the Great Depression in the US real estate market in 2008 and which eventually sank the world, believes that investors in the stock markets have been playing too much, which, combined with inflation, does not lead to nothing good.

Barry now has an even darker forecast for the end of this year, but he is not alone as most of the 'gurus' of American business and economics, from Warren Buffett, to economist Jeremy Grantham and investor Charlie Munger, to the CEO of JP Morgan, Jamie Dimon, assert that "tough times" lie ahead.

 Their view is that the United States economy is collapsing due to ever-increasing inflation, a possible recession, a collapsing housing market, an endless war in Eastern Europe, supply chain disruptions, and other things bad things happening around us now. As it was in 2008, their view is that everything that happens in the US will have a negative impact on the whole world and that the consequences for many countries will be fatal.

If we focus on Barry's predictions, which have so far been 95 percent accurate, it's clear we're in trouble, claims YouTube channel Millionaires Investment Secrets. On August 12 this year, he warned investors that the "bear market" run is almost over and we are slowly coming to an end, and since that date the market has fallen 17 percent. Barry now asserts that, in an economic sense, the end of the world is upon us. As the world slowly enters the recession tunnel, Barry has some helpful tips to help us survive the market crash of 2022.

Barry believes the US market is standing on the edge of a precipice. He says times are more turbulent now than before, citing more speculation than in the 1920s, more overvaluation than in the 1990s, and more economic and geopolitical conflicts than in the 1970s. 

He predicted stocks would experience the "mother of all collapses" more than a year ago and so issued his latest warning with a chart showing the S&P 500's sharp decline since hitting a record high. of all time in January. And he believes it will fall even more.

"We have more speculation than in the 1920s, leading up to the Great Depression in 1929. We have more valuations than in the 1990s, leading up to the dot.com bust of the early 2000s," Berry tweeted, putting apparently workers' wages stagnated this year, which, along with high inflation rates, impoverished most people.


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