Big Short investor Michael Burry questions whether this global economic crisis worse than 2008

Big Short investor Michael Burry has expressed skepticism about the current global economic environment, with questions as to whether it could be worse than the 2008 financial crisis.

What Happened: The investor who made his fortune betting against the housing market in the years leading to 2008 shared a link to a story about the Dow's largest single day drop on Sept. 29, 2008 when the House voted against a $700 billion rescue of the financial system. The index had dropped 777 points, its largest single-day drop in history.

See also: Big Short' Investor Michael Burry Says This Could Be The Real Reason Yields Are Rising Despite Deflation Talks

Today I wondered if this could be worse than 2008? Exchange rates are global, central banks seem to be in CYA mode and exchange rates are doing what interest rates are doing. One of my analysts said it was spooky that I would wonder that alpine. Burry said in his now-deleted tweet that he was not interested in the issue of Anniversery.

Since then, the Dow has seen more intense single-day drops. The index saw single-day drops of over 7% three times in the month of March during the pandemic year of 2020.

Why is Burry skepticism important: it comes at a time when global assets have been battered by rising interest rates and persistent hawkishness among central bankers. The markets have been extremely volatile because of the continued hawkish stance adopted by the U.S. Fed despite signs of inflation having peaked out. Experts like ARK Investment Management spokesman Cathie Wood have criticized the policy of the U.S. Fed stating that it is significantly more restrictive than in the 1980s.

The Vanguard Total Bond Market Index Fund ETF BND and the iShares Core US Aggregate Bond ETF AGG have lost more than 4% in a single month. The SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500, has fallen more than 8% since the beginning of the year.