The Big Short investor Michael Burry has warned of a looming consumer recession and more earnings trouble. michaelburry bigshort
He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money.Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead.
His tweet includes two images. The first shows a sharp decline in U.S. personal savings. The other shows a steep rise in consumer credit outstanding. One commented: “This is wild. We airdropped helicopter money on people and yet personal savings went down and credit card debt went right back to where it was.”
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