Michael Burry Blasts Wealth Transfer Driving Economic Inequality

Michael Burry, the investor known for shorting the housing market ahead of its 2008 collapse, has criticized what he calls a systemic wealth transfer enriching a narrow slice of the population, according to TheStreet.

In a September 16 Substack post cited by the report, Burry wrote, "I am righteously indignant over the wealth transfer to the very few that these bubbles create," adding that "the whole system is about creating bubbles so the grift can happen, both inside companies, transferring wealth to their employees at obscene rates, and in politics."

Burry pointed to circular financing among tech companies and schemes originating in Washington as sources of the problem, according to TheStreet.