michael burry knows a lot and one of the smartest people on american finance. who is michael burry? one of the few americans who understand the housing bubble of 2000 would lead to systemwide destruction of our economy which in the end it did. how did michael burry manage to see that coming? unlike most investors he's trained to assess problems empirically on the basis of evidence rather than theory. if you are interested in the details of what he was saying in 2007-2008, watch the big short basically on the last financial crash. with that in mind, what does michael burry say about the economy now? he's highly concerned about something called modern monetary theory, mmet, mmet is the belief that big governments like ours can pay for everything and definitely simply by printing more money. that is an old idea but there is a problem with it. printing more money causes inflation inevitably and no one denies that, it is true. what makes mmet new and alluring is the risk claim to have a solution to the problem. radically increased taxes, less cash in the system would mean less inflation.
but michael burry is not rest assured and not convinced. yesterday he sent this tweet "people said i did not one last time i did but i want this time and still no one listens, but i will have proof i warned." you have heard a lot about an armed insurrection that took place in washingtonanuary 6th. was it armed? no one has really looked at that. the next guest has looked at every arrest that day and has the answer. that is next. ♪ ♪ >> who sought to spark a revolution that would topple the federal government. it is confirmed and i will supervise the persecution of white supremacist and others who stormed the capital on january 6th. a heinous attack that sought to disrupt a cornerstone of our democracy. the peaceful transfer of power to a newly elected government. >> tucker: that was merrick garland today at the confirmation speech. merrick garland has a lot of reasonable friends who say he is a smart and moderate person. that was not a moderate statement. it was dishonest, completely dishonest, dishonest enough you should be worried abou
burry so he's back and of course signaling something in his tweets that is the underlying cause of this and what everybody is starting to sense just like any collective of people group of people mass group of people we all sense what's coming and he was talking about hyperinflation and why my germany everybody's talking about weimar lately and that's because everybody sense census exactly what happened in terms of a great power losing control of their monetary value and he points out that in particular in general say that like the sudden collapse the hyperinflation moment happened just as max and i have said several times out of the past few years it happened suddenly but it's happening slowly 1st he points out he catalogs that it was in fact going on for 9 years before a sudden collapse so it and everybody there are quite a few people that seem just like remember last year 2020 and america all those billionaires how much money they made like enormous amounts that's exactly what you saw and why marcher me leading up to that short brief hyper. inflationary moment i'll read you one of his
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