Financial expert Michael Burry, best known for his portrayal in hit-movie “The Big Short,” forecast dire futures for China, and potentially America in a single tweet, Wednesday.
Burry wrote in a now-deleted Tweet that “China’s markets are having an “America in early 2009″ moment. Fear and uncertainty are peaking or close to it [but] China is too important to America, 20X Russia. America cannot effectively fight or sanction China without spiting itself nearly as severely. Just as [Lebron James].”
Burry is best known for accurately forecasting the 2008 global financial crisis, which Christian Bale portrayed in “The Big Short.” In August, it was found that he liquidated almost the entire portfolio of his firm, Scion Asset Management, after warnings that the “mother of all crashes” was drawing closer.
The quirky financial guru deletes his Tweets so often that an account was created just to share his deleted content, which posted his prophecy early Wednesday morning:
— Michael Burry Archive (@BurryArchive) September 21, 2022
His commentary comes amidst a major crisis in China’s housing and property sector, which may make troubled nation ground-zero for a global financial recession, as reported by MacroBusiness. They also come days after economic expert Nouriel Roubini echoed Burry’s fears of a “long and ugly” and potentially world-changing recession.
Roubini forecast the potential for manufacturing to return to Europe and the U.S., potentially leading to significant strife between the U.S. and China. Burry’s comments on Wednesday seem to fly against these aspects of Roubini’s fears, as he intimated that the U.S. is far too dependent on China. (RELATED: Don’t Worry About Pelosi’s Taiwan Visit. China Invaded Us Years Ago, Didn’t You Notice?)
The LeBron James aspect of it all is just further evidence of Burry’s brilliance of dunking on pop culture in the macro-financial landscape. James has been consistently pro-China throughout his public life, likely due to the National Basketball Association’s close financial ties to the nation.