'Most Devastating Economic Force In History'

Michael 'Big Short' Burry Blasts "Unjustifiable" Lockdowns As "Most Devastating Economic Force In History"

Tyler Durden

Infamous for his painful but ultimately profitable "big short" bet against mortgage-backed securities during the 2008 financial crisis, Michael Burry, the doctor-turned-hedge-fund-manager has been on a multi-day Twitter rant claiming that the lockdowns intended to contain the COVID-19 pandemic are worse than the disease itself.

Echoing the thoughts of many, Burry opined in a series of tweets over the past two weeks that the government-enforced lockdowns and business shutdowns across America may trigger one of the country's deepest-ever economic contractions,and further still, are not necessary to contain the epidemic (on March 22nd).

COVID-19 policy cannot be settled by CYA politicians career ID docs. Too much hammer/nail and too little common sense.  

POTUS must reflect the interests of the working class and small business here - the economy cannot crash 30% to save the 0.2%.

Set America Free!

If COVID-19 testing were universal, the fatality rate would be less than 0.2%.

This is no justication for sweeping government policies, lacking any and all nuance, that destroy the lives, jobs, and businesses of the other 99.8%.

Furthermore, Burry - who earned his M.D. at the Vanderbilt University School of Medicine - has also dared to say that some controversial treatments for COVID-19, such as the malaria drug hydroxycloroquine, should be made more widely available (on March 24).

Prudent plan:

1) Standardize on chloroquine and azithromycin -cheap and available

2) Sick and elderly voluntarily shelter in place. 

3) Americans lead their normal lives with extra hand washing and special care if around elderly.

Saving the economy means life, not murder.

Additionally, in an email to Bloomberg News, Burry wrote that "universal stay-at-home is the most devastating economic force in modern history... And it is man-made. It very suddenly reverses the gains of underprivileged groups, kills and creates drug addicts, beats and terrorizes women and children in violent now-jobless households, and more. It bleeds deep anguish and suicide."

 Additionally, as Bloomberg's Reed Stevenson reports, Burry responded to questions via email to offer more thoughts on the pandemic and the response to the outbreak...

Japan’s Response

“I believe Prime Minister Shinzo Abe is trying his best to manage through the situation without shuttering the economy. He sees what it has done to the U.S., and would rather not force a shut in, but instead asks for common sense. Japan has certain features — such as a largely lawful and well-educated society — that make this more possible. As do Taiwan, Singapore, Korea.”