Michael Burry, better known as The Big Short investor, says there is now no doubt that the U.S. economy has shifted into reverse gear and is in recession. What’s more, Burry has also warned that inflation is highly likely to spike further, creating the perfect conditions for a gold price rally.
While the Federal Reserve Charman, Jerome Powell has admitted that he doesn’t know if the rate tightening actions which marred 2022 will lead to a recession, Burry says that it’s already a reality.
Writing over the weekend he said, “The US [is] in recession by any definition. Inflation peaked. But it is not the last peak of this cycle. We are likely to see CPI lower, possibly negative in 2H 2023. Fed will cut and government will stimulate. And we will have another inflation spike.”
Burry has previously stated that he believes the recession will be a prolonged one, meaning that there will be ample opportunity for gold to race past its previous highs. Ensure you’re in a position of safety and poised to benefit. Buy gold now.
