Financier George Soros Sees No Bottom

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Financier George Soros Sees No Bottom

Posted by amabaie 1189 days ago, popular 1188 days ago (http://www.reuters.com)
Category: Economy | Tags: depression investor markets soros

Renowned investor George Soros said on Friday the world financial system has effectively disintegrated. He said the turbulence is actually more severe than during the Great Depression, comparing the situation to the demise of the Soviet Union.

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georgeu2000 1189 days ago

The next depression will be bigger than The Great Depression because all the world's markets are linked electronically. That means the the waves of fear move faster and get bigger.

thekritz 1188 days ago

On the one hand, I agree with Soros, especially from a relative perspective. At the same time, if Japan can serve as a lesson, the situation for most americans won't be as dire, since the standard of living is so much higher now.

Banker 1188 days ago

A lot of doom and gloom talk out there right now. Although it seems to be warranted I still find it hard to be so negative. The way the U.S. Government is dealing with this situation is much different then the way the Japanese did. That in itself gives me hope.

amabaie 1188 days ago

The way the US and other governemnts are dealing with the situation is...weird. Facing a massive credit crunch - way to much consumer debt - the government (that's us, by the way) is

A) Cutting expenses to reduce debt

B) Saving money to pay down the debt

C) Spending even more - let the party continue!

Is there a credit counsellor in the house?

sunnyspeaks 1188 days ago

I am still optimistic. The situation may not last longer and we may witness a revival of our economy. Till then, we can hope against the hope.

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