President Trump claims the U.S. economy is back on track. The economy grew by four percent in the second quarter of 2018, and Trump expects that growth to hold or increase by the end of the year. But economists around the country, as well as investment stars like Shervin Pishevar, aren’t buying Trump’s inflated predictions. Shervin Pishevar is so down on the economy that he went on a 21-hour tweetstorm to let his Twitter followers know the economy is on shaky ground.
Shervin Pishevar’s tweetstorm came before Trump threw the rest of the world under a tariff bus. And Pishevar wasn’t sure the Feds would raise interest rates for the third time when he tweeted, but that just happened. Those issues, along with the fact that inflation is rearing its ugly head, are signs that the economy is in for a meltdown, according to most economists. And Shervin Pishevar was one of the first investors to spell out that meltdown in his tweets.
Pishevar also tweeted some grim news about stock market. Shervin expects a major downturn in the stock market in the coming months. And Reuters just published an article that may confirm Shervin’s tweet that a possible 6,000-point drop is coming in 2019.
Some investors say Pishevar is licking his wounds from his Investment company departure. Pishevar started Investment company after investing in Uber, Airbnb, Postmates, and Tumblr when they were startups. He resigned his CEO position at the end of 2017, and he disappeared for a month. But Shervin Pishevar is back, and his tweeting like Trump. But his tweets make a lot more sense, according to his Twitter followers. Especially his tweet about the bond market losing its place as a safe haven when the stock market stalls and falls flat.
In another tweet, Pishevar claims bitcoins will take a nosedive, and his tweet about Silicon Valley losing its place as the startup capital of the world made the hair on the neck of some of his friends stand straight up. But those investors know Shervin Pishevar is right more than he’s wrong, so investors are moving assets around to prevent a major loss if he is right.