Michael Burry is the prototype of the hero “Big Short“- the man who predicted the 2008 crisis. Now he thinks that freezing economies is worse and more deadly than coronavirus alone.
“Big Short” hero: freezing markets is worse than an epidemic
Burr returns to the headlines. Reason? His new statement regarding the current economic situation.
– government the restrictions do more harm to Americans than coronavirus could ever do – he wrote on Twitter. – Nearly 2.8 million people die in the US every year. The worst forecasts estimate that coronavirus will increase this number by less than 10 percent. This is worth considering, while the media suggests that Americans die many times faster than normal. Compassion does not have to argue with the facts – added.
If COVID-19 testing were universal, the fatality rate would be less than 0.2%. This is no justication for sweeping government policies, lacking any and all nuance, that destroy the lives, jobs, and businesses of the other 99.8%.
– michaeljburry (@michaeljburry) March 23, 2020
Interestingly, the American is not only known as an expert in predicting busts on the stock exchanges. He also has … a neurologist diploma.
I warned you!
The famous investor recalled his own article from the New York Times under the meaningful title: “I saw a crisis coming. Why didn’t the Fed see it? “ Now he maliciously wrote: “I don’t see the crisis. Why does the government see him? “
– The widespread confinement of people in homes is the most devastating economic phenomenon in recent history. In addition, it is the work of man. This action immediately strikes the most vulnerable groups, kills and creates drug addicts, leads to violence against women and children, etc. It leads to great pain and suicide – Burry wrote in an email published by Bloomberg.
So how should an epidemic be fought? Stock exchange genius has no illusions: just limit social contacts of seniors and people with weak organisms. It is necessary to freeze markets. – Young people seem to be immune, so I would allow the virus to spread to a population that doesn’t suffer much damage. THIS is the only way to balance the needs of different groups. Vaccines will not be soon, so acquiring natural immunity is the only way for us. Every day and week of the current situation is ruining countless people in a criminally unfair way – argues.
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