Spitznagel says the US credit bubble is set to pop
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Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- ‘No turning back’: This Wall Street bear is predicting the biggest market crash since 1929 — Here’s how to prepare your portfolio if he’s right
- Spitznagel told Bloomberg in an earlier interview that we’re witnessing the “greatest credit bubble in human history.”
- In an interview with New York Magazine’s Intelligencer last year, Spitznagel likened the Fed’s “constant monetary intervention” to forest fire suppression.
- He went on to say “when you suppress it enough, it gets to a point where you can no longer afford to have any fires burn because they would be too big and too intense.”
- That’s where the U.S. economy is at, according to the hedge fund manager.
- If Spitznagel’s dire market predictions come true, you really don’t want to have all of your eggs in one basket — because that basket could easily go up in flames.
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