Billionaire Warns: Yellen Collapse ‘Will Be Unlike Any Other’

Another horrific stock market crash is coming, and the next bust will be “unlike any other” we have seen.

That’s the message from Jeremy Grantham, co-founder and chief investment strategist of GMO, a Boston-based firm with $117 billion in assets under management.

Grantham pulls no punches when assigning responsibility for the coming financial carnage. In a recent interview with The New York Times, he calls Federal Reserve Chair Janet Yellen “ignorant” and says the Federal Reserve all but killed the economic recovery.

Grimly, he adds, “We have never had this before. It’s going to be very painful for investors.”

Grantham isn’t the only one worried about a market collapse.

“We have no right to be surprised by a severe and imminent stock market crash,” explains Mark Spitznagel, a hedge fund manager who is notorious for his hugely profitable billion-dollar bet on the 2008 crisis. “In fact, we must absolutely expect it.”

Billion-dollar investor Warren Buffett is rumored to be preparing for a crash as well. The “Warren Buffett Indicator,” also known as the “Total-Market-Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment.

Carr notes that in 2008, during the worst part of the Great Recession, the overall stock market was decimated and plunged over 30%, wiping out the 401(k) and retirement accounts of millions of innocent, hard-working Americans.

For nearly two decades, he held a top-secret post as the communications officer for Strategic Air Command, where he was charged with designing and programming the computers that coordinated America’s nuclear missile arsenal.

“In the military, I developed complicated equations to predict the flight patterns of nuclear missiles,” Carr comments. “Today, I use these same complicated equations to predict the price patterns of stocks.”

Full article: Billionaire Warns: Yellen Collapse ‘Will Be Unlike Any Other’ (Money News)

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