- January 31, 2023
- Posted by: Stratford Team
- Category: Economy
The global economy is predicted to tip into a downturn to rival the Great Depression, an American hedge fund advised by a prophetic economic guru has announced.
Mark Spitznagel, chief investment officer of Miami-based Universa Investments, said there was a risk of a “contagious inferno” being ignited by extreme high levels of borrowing following a decade of low interest rates.
The 51-year-old’s firm is advised by Wall Street trader turned economics professor Nassim Taleb, who was dubbed the “Black Swan” after his 2007 book of the same name successfully predicted the failings in the banking system that led to the global financial crisis the following year.
Mr Spitznagel said to his clients in a letter seen by Bloomberg of the impending crash: “It is objectively the greatest tinderbox-timebomb in financial history – greater than the late 1920s, and likely with similar market consequences.”
Other similarly prophetic economic experts are also raising the…