Michael Burry, head of Scion Asset Management is currently predicting a higher inflationary trend for the U.S. economy. In a recent Twitter (NYSE:TWTR) post, which was obviously deleted later, Burry took an opposing stance to billionaire Elon Musk and famed hedge fund manager Cathie Wood’s deflationary predictions. The investor who made billions of dollars by shorting the housing bubble of 2008, cited that “In 1978-79, rising velocity trumped falling money supply to drive inflation higher and higher.” Burry noted that currently too, the velocity of money is increasing faster than the decline in money supply in the economy. This, he predicts, is a sign of higher inflation.
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