Long term Wall Street bear and bitcoin holder, David Tice predicts that the stock market will crash fall by 30% in a retreat that will persist for two years. Although the veteran investor is not giving the specific commencement date for this downturn, he warns that when it breaks, “it’s likely to break hard and cause investors to suffer for a long time.”
Biden Administration Policies
In remarks made during an interview, Tice, who claims to be a “believer in the Austrian School of Economics”, points to the “business-unfriendly policies from Washington” as one of the key reasons for his pessimism. Specifically, the veteran investor attacks some of the Biden administration’s early decisions saying:
We now have a Biden administration that has a Senate and a House. They’re likely to enact very much more anti-capitalist policies. They have already raised the minimum wage. That’s going to hurt earnings on the cost side.
Tice also says that “easy monetary and fiscal policies that support…