Spitznagel Warns Fed Policies Have Created a Credit Bubble on Verge of Bursting
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Fed's policies have created a "credit bubble" that will eventually burst and cause a crash, says bearish investor Mark Spitznagel
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Spitznagel likens the Fed's "constant monetary intervention" to suppressing wildfires, allowing risk to build up
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Recommends diversifying portfolio beyond just stocks to spread risk, keeping cash reserves, and being ready to buy stocks at discount if crash happens
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Notes U.S. debt levels are at historic highs and can't be repaid, predicts interest rates will fall again soon
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Believes Fed won't be able to let bubble burst because it would "destroy the entire forest" of the economy