A $56,000,000,000 asset manager issues a doomsday economic warning – here are the forecasts

A hedge fund titan is issuing a remarkably dire warning about the fate of the global economy, according to a new report.

Elliott Management says the world is currently on the path to hyperinflation, which could trigger “global societal collapse and civil or international strife”, reports the Financial Times.

The $56 billion asset manager widely points the finger at central bank money-printing policies enacted during the pandemic, and says policymakers were wrong and dishonest in pointing out supply chain disruptions supply as the root cause of inflation.

Elliott believes the bottom in global markets has yet to be reached.

Given the ongoing economic calamity, the company says a 50% decline from market highs is likely.

To date, the S&P 500 has fallen from a high of 4,818 to a low of 3,491, representing a decline of 27%.

According to Elliott, the next wave of negative market catalysts could include short-term loan losses at banks, possible reductions in secured loan obligations and potential fallout from leveraged investments in private equity.

The firm notes that its dire scenario is not a certainty.

But Elliott thinks there are simply too many “frightening and seriously negative possibilities” to ignore, and a “seriously unfavorable outcome of the bubble of everything” may remain on the horizon.

Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox

Check Price Action

follow us on TwitterFacebook and Telegram

Surf the Daily Hodl Mix

Check the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured: Shutterstock/Tithi Luadthong

Leave a Reply

Your email address will not be published. Required fields are marked *