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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about \u201can extended multi-year recession\u201d in the U.S. He believes there isn\u2019t a strategy to pull us out of \u201cthis real recession.\u201d<\/strong><\/p>\n Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has warned about a \u201creal recession\u201d that will last multiple years.<\/p>\n Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in \u201cThe Big Short,\u201d a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.<\/p>\n The Big Short investor tweeted about a recession Tuesday. He wrote:<\/p>\n What strategy will pull us out of this real recession? What forces would pull us so? There are none. So we are really looking at an extended multi-year recession. Who is predicting this? There are none.<\/p>\n<\/blockquote>\n Burry has warned about a recession several times in the past. In May, the Big Short investor cautioned<\/a> about a looming consumer recession and more earnings trouble.<\/p>\n In April, he said<\/a> that the Federal Reserve \u201chas no intention of fighting inflation,\u201d adding that \u201cThe Fed\u2019s all about reloading the monetary bazooka. So it can ride to the rescue & finance the fiscal put.\u201d<\/p>\n NYU professor Nouriel Roubini, who is sometimes known as Dr. Doom, replied to Burry, tweeting: \u201cSome of us have been predicting a long and severe recession and made a detailed case for why we are headed towards a Great Stagflationary Debt Crisis.\u201d In another tweet, he wrote:<\/p>\n I have myself argued all year that the coming recession will not likely be \u2018short and shallow.\u2019<\/p>\n<\/blockquote>\n This week, Tesla CEO and Twitter chief Elon Musk also warned<\/a> about a severe recession. He urged the Federal Reserve to cut interest rates \u201cimmediately,\u201d emphasizing that the Fed is \u201cmassively amplifying the probability of a severe recession.\u201d<\/p>\nMichael Burry\u2019s Recession Warning<\/h2>\n
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