The New CS Board

[jumanji0881]

'Big Short' investor Michael Burry issues a grim warning about runaway consumer debt - and says the stock-market rally won't last
https://www.msn.com/en-us/money/savingandinvesting/big-short-investor-michael-burry-issues-a-grim-warning-about-runaway-consumer-debt-and-says-the-stock-market-rally-won-t-last/ar-AA10AIRR?ocid=msedgntp&cvid=54d29d2068f84a1db8d698afb968409a

My Comment: It's all about the debt

Excerpt:
Burry noted in May that American consumers - faced with surging food, fuel, and housing costs - were putting away less of their incomes, racking up credit-card debt, and poised to virtually exhaust their savings by the end of this year.

He predicted consumer spending would drop as a result, and retailers would cut prices to get rid of their bloated inventories, curbing inflation and heaping pressure on corporate earnings and economic growth by Christmas.