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I will not comment on this tweet, from Michael Burry-- he of Big Short fame-- because it is well beyond my competence. I will say that if Burry is right, we are in bigger trouble than we imagine.
The Fed is so afraid of being the Fed of the 1970s that they are becoming the Fed of the 1930s.
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Michael Burry is a smart man but at this point about half the people in the world can see this coming. This neo-depression is entirely man made and was driven by greed and corruption of our leaders and lobbyists. The citizens will pay the price but the politicians will not. Watch and see where Nancy Pelosi spends her time when it all crashes down. I'm betting in Europe. It is "our" fault of course because we voted these criminals into office even after they were exposed for what they are.
If I hear once more "the fed is getting ready to raise interest rates again to help inflation...."
Each time, credit card rates grow up, and yes, the average household in America, sadly, cannot just go out and buy major household goods and must rely on credit for things like oh, say, a roof repair or medical bills.
Introductory rates for normal people -- not those who can pay all credit off every month, but not those who ever have late payments, either -- are breathtaking these days -- enough to make you, yep, do without whenever possible, but it's not always possible. And every time they raise the rates, they make it harder to get out of debt...
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