Shervin Pishevar is a respected investor who has made numerous bold calls throughout his career. He recently tweeted for over 21 hours about the future. Most of his predictions were dire, and some people dismissed them as soon as he tweeted. However, other people are now worried that the economy is about to collapse.
Over the past two months, the price of oil has dropped dramatically. Most people think that low oil prices are favorable for the economy. However, oil companies are more profitable when oil prices are higher. Oil drillers get crushed when oil prices drop rapidly. Shervin predicts that oil companies will continue to struggle in the years ahead. He thinks that companies should stop purchasing oil and should focus on developing renewable energy sources. Shervin has significant investments in solar energy companies based in California.
Shervin Pishevar also believes that the stock market is going to drop quickly in 2019. He thinks that the impending stock market drop will be worse than the crash in 2008. He also predicts that the ensuing recession will be worse than the recession in 2008.
There are various reasons for his predictions. He sees rising consumer debt levels as a critical issue in the economy. The last time that consumer debt was this high, most people had little in savings for an emergency. Interest rates are already low, so lowering interest rates will not provide an economic boost. Instead, the economy will languish with little growth for years.
Shervin Pishevar also tweeted about public education in the United States. He thinks that it is a bad idea to let students borrow so much money to earn a degree. He suggested that the United States government should hold colleges liable for the student loan crisis. Instead of taking out loans for college, Shervin Pishevar tells young students to find other ways to learn various subjects. Shervin also thinks many students will move to other countries where college is much less expensive.