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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