Soros says deep recession inevitable, depression possible

Yahoo ^ | 11/13/2008 | Reuters

[Red in Blue PA]

George Soros, chairman of Soros Fund Management, testified at a House Oversight and Government Reform Committee hearing on Thursday.

Highlights:

* Said "a deep recession is now inevitable and the possibility of a depression cannot be ruled out."

* Said hedge funds were an integral part of the financial market bubble which now has burst.

* Said hedge funds will be "decimated" by the current financial crisis and forced to shrink their portfolios by 50-75 percent.

[Red in Blue PA]

Gee, wonder how he positioned his investments prior to making this public announcement?

[anniegetyourgun]

He doesn’t have to worry about it though. I suspect he’ll be one of the players in Obama’s legion.

[Star Traveler]

The Great Depression..., again.

Here we come...

[alecqss]

Sure. We did get Obama, didn't we?

[gussiefinknottle]

yes, that would be interesting. must be planning to make
up some of his losses.

[TChris]

Soros says deep recession inevitable, depression possible

He certainly hopes so. Crisis is essential to Communist advancement.

[edcoil]

Didn’t he pay to get Obama in to save this from happenning? What now his boy cannot do it.

[Vaquero]

well he should know....he is the architect of it.

[BGHater]

Lol. He cries wolf alot, but he has been warning of a super bubble for a while. The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means by George Soros

[EagleUSA]

I suspect he’ll be one of the players in Obama’s legion.
:::::::::
Suspect? (chuckle) I believe if we saw an HONEST list (laughing) of Obamao’s contributors, it would contain the vast majority of America’s enemies, internal and external.

Of course, this nutcase would be on there. Just think MoveOn.org, et al....

[Heartland Mom]

Everyone, everywhere knows what a colossal mess this is and yet, with all this talk of bailout and the government doing this and taking over that - WHERE IS THE CALL FOR AN ECONOMIC COMMISSION to actually get the top economists in one room and come out with their best solutions?? No, instead we have politicians running around making everything worse.

[sageb1]

Actually, Obama is one of the major players in Soros’s legion.

[anniegetyourgun]

I wasn’t really thinking about his monetary contributions. I am suspect that Soros will actually be an advisor - be it openly or secretly. Given that “the one” believes he has a mandate and that his agenda is to “change the world” - he’ll probably tap into Soros openly and publicly.

[sageb1]

That’s right.

[Brett66]

The Great Depression..., again.

Let's call this one the "Obama Depression".

[BARLF]

Yes, he knows how to bring a country down.

[Dr. Ursus]

Soros want to buy the U.S. on the cheap!

[dalereed]

Bring on the depression, it’s long overdue.

Keep government out of trying to fix it, FDR destroying us was a good example of government fixing!