Posted on 04/11/2008 5:31:47 AM PDT by AndyJackson
...Mr. Soros, one the world’s most successful investors and richest men, leapt out of retirement last summer to safeguard his fortune and legacy. Alarmed by the unfolding crisis in the financial markets, he once again began trading for his giant hedge fund — and won big while so many others lost.
Mr. Soros has always been a controversial figure. But he is becoming more so with a new, dire forecast for the world economy. .... “I consider this the biggest financial crisis of my lifetime,” Mr. Soros said during an interview Monday in his office overlooking Central Park. A “superbubble” that has been swelling for a quarter of a century is finally bursting, he said.
.... Mr. Soros, a fierce critic of the Bush administration, faults regulators for allowing the buildup of the housing and mortgage bubbles. He envisions a time, not so distant, when the dollar is no longer the world’s main currency and people will have a harder time borrowing money.
(Excerpt) Read more at nytimes.com ...
Yeah, if I had no moral scruples, or any loyalty to anyone but myself, I could probably make a lot of money.
“The difference is that Soros gives them money.”
You got that right.
Greed begets greed... those on the Soros payroll don’t care what they do to get rich, hopefully they will devour/destroy themselves...honest folk MUST discern and be shrewd...
Psalm 18:26 NKJV “With the pure you will show yourself pure; and the the devious you will show yourself shrewd.”
Actually, I agree with Soros on one point here. There is a superbubble that will be bursting soon in the USA. Perhaps a better word for it than burst is boom. Baby Boom, that is.
I suggest for your reading a couple of books by investor Harry S. Dent. The first one was written back in the early 90s and is called the Great Boom Ahead. The second was written in 04 or 05 and is called The Next Great Bubble Boom. Both detail his predictions for the economy long-term. One of the things he focuses on in both books is the effects of demographics connected with different sectors of the economy. He especially focuses on spending patterns related to the Baby Boom generation. This generation essentially came in 3 waves with the last of the 3 being the largest. That last wave has just now gone past its peak spending age. Demographically, we are set for an economic slowdown.
I really hate that I am in agreement with him on this particular issue, but I do believe that he is correct. There are other forces at work that he does not see, but the demographics do back up his superbubble remark.
..Soros made a lot so by definition he was right.
Life is a gamble and money -- in whatever form-- is the reward for having taken chances, not for being right.
One factor that weighs against the Dollar is that all dollar account in non-US banks really reside in that bank's account of in their correspondent US bank. All it takes is the signature of a single federal judge to seize that account. At order could come because of civil litigation or because the accountholder ran afoul of US law even though he never set foot in the US, only his money did.
The seizure factor alone is, IMO, responsible for Iran (a nation documented to fund terrorist groups) to selling its oil in Euros. Hugo Chavez had millions seized in a civil dispute with a US oil firm.
Euros are harder to seize because of jurisdiction issues among the many banks that operate correspondent accounts for non-Euro banks.
Exactly. He’s king of the dirtbags, but he’s also a very smart trader.
Now, if there’s manipulation and other assorted illegalities going on, hang him high.
“In the game of life the score is kept with money”
I have to disagree with you here. There are so many things that make a life valuable besides money.
That is a fascinating thought. I'm going to have to pick up that book.
Thanks for the tip.
Amen, Brother. The plain and simple fact is, I think this A$$hole is right, no matter his political or philosophical underpinnings. I do not think it wise to kill the Messenger for things unrelated to the message.
Should it be the only measure? NO! Does it provide a basis for distilling out the emotion and irrationality of the Human decision making process? YES!
We could have a multi-hour discussion on this topic but this is the Cliff Notes version from this writer.
Not necessarily. And we are in very serious trouble.
And they were correct to do so. Our dollar's problem and indeed the country's, is our absolutely irresponsible government. The root of which is our people. The general voting majority of which are ignorant, foolish children. Soros is a brilliant opportunist and Buffet has become a guilty rich guy. They are just taking advantage of a situation of our governments making.
must be nice when you get get the whisper numbers...
The sooner Soros assumes room temperature the better.
?
Translation: I envsion a time when it will be harder for people to be like me.
It's not a question of if this can or will be done, but when, and how bad things will get before 95% of the "youts" join with the 30% of the "old coots" who have common sense and end this nonsense.
SOME of it could be handled by reasonable, legal immigration---but whatever the solutions, I do not see people suddenly having more children.
the unpublished information you obtain by talking to the upper echelon right people.
downturn was a bit of an understatement. There is essentially an 80 year economic cycle according to Mr. Dent...I’ll let you do the subtraction.
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