Stanley Druckenmiller, a renowned investor, has expressed concern about the state of the US economy. He believes that the economy is still struggling to adapt to a more restrictive environment after years of low interest rates and easy money.

Druckenmiller cites Dogecoin's $80 billion market cap during its 2021 rally as an example of irrational behavior during an asset bubble. He warns that with the credit cycle now in contraction, bankruptcies and weakness in the banking system are starting to emerge, and there may be further corrections in risk assets.