Steve Eisman, the investor known for predicting the financial crisis as depicted in"The Big Short" book and movie, thinks the bond market will be hit the hardest in the next recession, the money manager told Bloomberg television on Thursday.
If a recession hits, people will lose money in the bond markets because there is so much less liquidity, he said. Eisman predicts big losses in triple-B corporate debt and high-yield. However Eisman doesn't think this is a systemic problem. He qualified his fears by saying that since 2016"I think the financial system in the United States is safe."
No actually, the pain will be felt by ordinary Americans as their jobs get automated in the next recession.
Who hasn't 'predicted' something in their lives ... doesn't make us a guru.