“EUROPE’S BRUTAL HANGOVER IS INEVITABLE” “The individual can make all the differ

“EUROPE’S BRUTAL HANGOVER IS INEVITABLE”

“The individual can make all the difference.” One man, open-minded and curious, did very well for himself. By what he learned from his (independent) studies in economics, he was enabled to predict the approximate arrival time of the 2008 housing boom. By then, he had become a successful finance professional. Afterwards, in 2010, Michael Burry courageously took out an ad in the NYT and publicly asked the Federal Reserve and Congress what their excuse was for not predicting the collapse, for their negligence. Soon his company was harassed by government agents in various ways, which cost him millions of dollars in legal fees. LISTEN TO THE BALANCE OF HIS SPEECH, ESPECIALLY THE CONCLUSION.

And I really like zerohedge’ lead in: Infamous for his prediction of the great recession, Europe’s demise, and the collapse of the US financial system (as well as profiting extremely handsomely from said predictions), so well captured in Michael Lewis’ book “The Big Short”, UCLA’s Dr. Michael Burry undertakes UCLA’s Economics Department’s commencement speech with much aplomb. In this “age of infinite distraction”, the astounding truthiness of this 15 minute speech is stunning from single-sentence summation of Europe’s convulsions that “when the entitled elect themselves, the party accelerates, and the brutal hangover is inevitable” he reminds us that Californians, and indeed all Americans, should take note. A quarter-of-an-hour well spent from a self-described ‘chicken-little’ who was “just trying to figure it all out”.