The 2023 banking crisis (after Silicon Valley Bank's failure) will be worse than the 2008 financial crisis.
“One reason we had the 2008 financial crisis was too much government regulation. That's why this crisis will be worse.”BankingEconomy
A public record of predictions made by well-known people: their exact words, when they said them, and how things turned out.
| Person | Category | Predictions | Scored | Accurate | Late | Partial | Wrong | Accuracy |
|---|---|---|---|---|---|---|---|---|
| Al Gore | Politician | 8 | 4 | 1 | 0 | 0 | 3 | 25% |
| Allan Lichtman | Academic | 8 | 7 | 5 | 0 | 1 | 1 | 79% |
| Anthony Fauci | Scientist | 9 | 8 | 4 | 0 | 3 | 1 | 69% |
| Bill Gates | Tech leader | 21 | 11 | 4 | 0 | 4 | 3 | 55% |
| Cathie Wood | Investor | 20 | 12 | 4 | 0 | 1 | 7 | 38% |
| Dario Amodei | Tech leader | 8 | 2 | 0 | 1 | 1 | 0 | 50% |
| Donald Trump | Politician | 23 | 19 | 3 | 0 | 2 | 14 | 21% |
| Ed Yardeni | Market strategist | 9 | 5 | 4 | 0 | 0 | 1 | 80% |
| Elon Musk | Tech leader | 18 | 16 | 1 | 4 | 1 | 10 | 22% |
| Eric Schmidt | Tech leader | 10 | 7 | 1 | 0 | 2 | 4 | 29% |
| Gary Marcus | AI researcher | 12 | 9 | 9 | 0 | 0 | 0 | 100% |
| Geoffrey Hinton | AI researcher | 7 | 1 | 0 | 0 | 0 | 1 | 0% |
| Gordon Chang | Commentator | 3 | 3 | 1 | 0 | 0 | 2 | 33% |
| Harry Dent | Market strategist | 10 | 10 | 1 | 0 | 0 | 9 | 10% |
| Jack Dorsey | Tech leader | 5 | 2 | 0 | 0 | 0 | 2 | 0% |
| James Hansen | Scientist | 11 | 6 | 6 | 0 | 0 | 0 | 100% |
| Jamie Dimon | Business leader | 16 | 10 | 6 | 0 | 0 | 4 | 60% |
| Janet Yellen | Policymaker | 8 | 6 | 2 | 0 | 1 | 3 | 42% |
| Jensen Huang | Tech leader | 8 | 1 | 0 | 0 | 0 | 1 | 0% |
| Jeremy Siegel | Economist | 11 | 10 | 4 | 1 | 0 | 5 | 45% |
| Jerome Powell | Policymaker | 15 | 12 | 6 | 0 | 5 | 1 | 71% |
| Jim Cramer | Commentator | 18 | 17 | 2 | 0 | 1 | 14 | 15% |
| Joe Biden | Politician | 10 | 9 | 6 | 0 | 0 | 3 | 67% |
| Kevin Hassett | Economist | 7 | 7 | 1 | 0 | 1 | 5 | 21% |
| Larry Summers | Economist | 19 | 14 | 5 | 0 | 0 | 9 | 36% |
| Marc Andreessen | Investor | 8 | 5 | 3 | 1 | 1 | 0 | 80% |
| Mark Zuckerberg | Tech leader | 16 | 7 | 3 | 0 | 3 | 1 | 64% |
| Masayoshi Son | Investor | 5 | 0 | 0 | 0 | 0 | 0 | — |
| Michael Burry | Investor | 7 | 4 | 1 | 0 | 1 | 2 | 38% |
| Michael Saylor | Crypto figure | 10 | 4 | 1 | 0 | 0 | 3 | 25% |
| Michio Kaku | Scientist | 8 | 3 | 0 | 0 | 2 | 1 | 33% |
| Mohamed El-Erian | Economist | 9 | 9 | 3 | 0 | 3 | 3 | 50% |
| Nouriel Roubini | Economist | 21 | 17 | 5 | 0 | 2 | 10 | 35% |
| Paul Ehrlich | Scientist | 9 | 7 | 0 | 0 | 0 | 7 | 0% |
| Paul Krugman | Economist | 17 | 15 | 6 | 0 | 1 | 8 | 43% |
| Peter Schiff | Investor | 24 | 20 | 5 | 2 | 0 | 13 | 30% |
| Peter Thiel | Investor | 3 | 3 | 0 | 0 | 1 | 2 | 17% |
| Peter Zeihan | Commentator | 9 | 4 | 1 | 0 | 1 | 2 | 38% |
| Ray Dalio | Investor | 7 | 5 | 2 | 0 | 0 | 3 | 40% |
| Ray Kurzweil | Futurist | 23 | 16 | 3 | 6 | 0 | 7 | 38% |
| Robert Kiyosaki | Commentator | 9 | 7 | 1 | 1 | 0 | 5 | 21% |
| Sam Altman | Tech leader | 16 | 4 | 3 | 1 | 0 | 0 | 88% |
| Steve Ballmer | Tech leader | 6 | 5 | 1 | 0 | 1 | 3 | 30% |
| Thomas Friedman | Commentator | 5 | 5 | 4 | 0 | 0 | 1 | 80% |
| Tom Lee | Market strategist | 10 | 9 | 3 | 0 | 1 | 5 | 39% |
| Vinod Khosla | Investor | 7 | 1 | 0 | 0 | 0 | 1 | 0% |
| Vitalik Buterin | Crypto figure | 8 | 5 | 3 | 1 | 0 | 1 | 70% |
| Yann LeCun | AI researcher | 6 | 1 | 0 | 0 | 0 | 1 | 0% |
Accuracy counts accurate as 1, late or partial as ½, inaccurate as 0. Pending predictions don't count.
“One reason we had the 2008 financial crisis was too much government regulation. That's why this crisis will be worse.”BankingEconomy
“My best guess would probably be 5.5% or a little above 5.5%. But 6% would not surprise me greatly.”MarketsEconomy
“we are on track for the dissolution of China as an economic entity before the end of the decade”EconomyGeopolitics
“I think inflation is going to get sticky in midyear at around 4%.”Economy
“I actually think rates are probably going to go higher than 5%”Economy
“And my own prediction is indeed for a softish landing: Inflation does seem to be coming down, and while we might not completely avoid a recession, if we have one it will probably be mild.”Economy
“We're looking at the end of the entire German manufacturing base within two years”EconomyEnergy
“We are likely to see CPI lower, possibly negative in 2H 2023, and the US in recession by any definition.”Economy
“Fed will cut and government will stimulate. And we will have another inflation spike.”Economy
“It should come as no surprise that many economists, including me, expect a recession to begin in 2023.”Economy
“I think the Fed will start bringing down the funds rate by mid-year 2023.”BankingEconomy
“Well, I believe by the end of next year you will see much lower inflation. if there's not-- an unanticipated shock.”Economy
“U.S. core PCE inflation will probably prove rather sticky at around 4% or above”Economy
“So we are really looking at an extended multiyear recession.”Economy
“We're more optimistic, expecting no broad-based recession but a rolling one, no continued bear market in stocks”EconomyMarkets
“We would not be surprised to see broad-based inflation turn negative in 2023”Economy
“Just guessing, but probably until spring of ‘24”EconomyMarkets
“The unemployment is likely to rise towards 6%”Economy
“I don't think there will be a recession. If it is, it will be a very slight recession.”Economy
“they're likely to put the U.S. in some kind of recession six to nine months from now,”Economy
“My guess is that [the] pound will find its way below parity with both the dollar and euro”MarketsEconomy
“by 2050 the entire population of China will have dropped below 650 million”Economy
“It's not going to be a short and shallow recession; it's going to be severe, long, and ugly,”EconomyMarkets
“My guesstimate is that it will be around 4.5 percent to 5 percent long term, barring shocks”Economy
“It looks like interest rates will have to rise a lot (toward the higher end of the 4.5% to 6% range)”EconomyBanking
“I estimate that a rise in rates from where they are to about 4.5 percent will produce about a 20 percent negative impact on equity prices”MarketsEconomy
“My guesstimate that a significant economic contraction will be required, but it will take a while to happen because cash levels and wealth levels are now relatively high”Economy
“So we think we're going to see some major downside surprises in inflation during the next three to six months.”Economy
“Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions.”Economy
“There's no doubt in my mind that we will get a higher number than 9.1 percent.”Economy