If this credit bubble ever pops......
it’s going to be the most catastrophic market failure that anyone has ever read about -- but let’s hope that doesn’t happen,” Spitznagel, Miami-based Universa’s chief investment officer, said Thursday in a telephone interview. “We’ve gotten ourselves into a tough spot.”
Spitznagel, 51, insists he’s not a “doom and gloomer.” He’s long been critical of central banks keeping interest rates near-zero or even negative, which he says has propped up asset values and encouraged excessive borrowing.
2021 book “Safe Haven,”
Bloomberg 3 June 2022
Spitznagel, a former trader, is a protégé of Nassim Nicholas Taleb, the author of the 2007 bestseller, “The Black Swan,”
https://englundmacro.blogspot.com/2020/02/basically-he-says-he-makes-far-out-of.html
Most economists argue a contraction is unlikely in the immediate future,
... given the continued strength of the jobs market and the more than $2 trillion in excess cash on household balance sheets.
Bloomberg 4 June 2022
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