'Big Short' investor Michael Burry warns of 'terrible consequences for America' if student loans are forgiven
up to $20,000 of their debt forgiven as a result of Biden's plan. The Supreme Court will also determine when payments for federal student loans will resume after a nearly three-year, COVID-related pause.
The fund manager of"Big Short" fame shared his personal experience with student loans as well:"When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. I was damned sure I was going to pay it off," BurryHe is known as one of the first to bet against the housing market prior to the financial crisis in 2008.
The 51-year-old has become a notable markets figure for his dire warnings and often ominous predictions around the economy. Earlier this year, Burry appeared to have major doubts about the US stock market's stunning rally. Ahead of the US central bank's meeting last month, Burry tweeted a single word in response:
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