‘The Big Short’ guy says his terrifying economic prediction is coming true

Michael Burry, the hedge fund manager who inspired The big courtmade a prediction on the stock market last year and now he hints that it has come true.

On Thursday, Burry tweeted “I keep getting asked ‘wen crash'”, and attached a photo of the S&P 500 from 2017 to present. Although Burry deleted the tweet, a Twitter account called BurryArchive took a screenshot of the tweet.

Last year, the head of Scion Asset Management tweeted that the “mother of all accidents” approached before deleting her.

The follow-up tweet apparently implies that the massive stock market crash is already, if not about to happen.

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The S&P 500 is a stock market index that tracks 500 public companies. It is used as a benchmark to determine the performance of the US stock market.

Since January, the S&P 500 has fallen more than 18%. Combined with fears about inflation, people are expecting a financial recession in the near future.

Burry is closely followed by meme stock investors due to his previous financial predictions.

Famously, Burry predicted the housing market bubble of 2007 that led to the Great Recession. He served as the inspiration for the book and the film The big court.

People on Twitter reacted to Burry’s prediction with caution.

Earlier this month, Burry also warned people about rising consumer debt caused by the Covid-19 pandemic and inflation.

“Net consumer credit balances are growing at record rates as consumers choose violence over cutting spending in the face of inflation,” Burry tweeted according to the New York Post. “Remember the savings glut problem? No more. The COVID helicopter cash has taught people to spend again, and it’s addictive. Winter is coming.

In August, the Burry hedge fund dumped its 11 U.S. stocks, including Google parent Alphabet and Meta, keeping only private prison operator Geo Group Inc according to Bloomberg.

It seems that this decision was motivated by Burry’s prediction.

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