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$56,000,000,000 Asset Manager Issues Apocalyptic Financial Warning – Here’s the Forecast

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 heading for hyperinflation, which could trigger “global societal collapse and civil or international strife,” reports the Financial Times.

The $56 billion asset manager points largely to the central bank’s money-printing policies enacted during the pandemic, saying policymakers were wrong and disingenuous to cite supply chain disruptions as the root cause of inflation.

Elliott believes the bottom for global markets has not yet been reached.

Given the economic disaster currently underway, the firm says a 50% drop from market highs is likely.

Year to date, the S&P 500 has fallen from a high of 4,81[ads1]8 to a low of 3,491 – representing a 27% drop.

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

The firm notes that the severe scenario is not a certainty.

But Elliott believes there are simply too many “scary and seriously negative possibilities” to ignore, and a “severely negative unwinding of the alt bubble” could remain on the horizon.

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