Posted on 06/08/2009 9:18:57 AM PDT by Oldeconomybuyer
GEORGE Soros, the world-famous investor and currency speculator, said yesterday he believes China will be the first country to recover from the global financial crisis.
"China should play a constructive role in the reconstruction of the global economic system and have a bigger voice in it."
"China is a positive force when the world economic and political orders are in disarray and it will grow faster than most people expect," he said.
Soros said the world's economic system will be profoundly changed by the financial turmoil.
He expected "a new world" would be built once the global financial downturn is over but said so far he could not see signs of revival in the world economy.
"It is a super-bubble, caused by blind expansion of credit to entice consumers to spend more than they own. Nothing like this has happened since the Great Depression and the problem is deeply rooted in the financial system," said Soros, who supports reflexivity, a theory refuting the idea that the market is fundamentally self-correcting.
(Excerpt) Read more at shanghaidaily.com ...
Soros has his money where his mouth is, no doubt.
Then guaranteed, 00000 will do nothing to spoil Soros’ investment.
No “cap and trade” in China...he’s right
Yep. Just as soon as they call all our notes due and take possession of all our property.
Of course China will recover. The aren’t crippling their economy by putting stupid restrictions on CO2.
We'll get 0be to tell them to get to the back of the line and take common stock like everyone else.
Soros!....Go to hell!
check out:
Matthews China Fund
also
Matthews India Fund
They have cash and are on a buying frenzie., This is how many ofrtunes were made in the Depression, too.
"It is a super-bubble, caused by blind expansion of credit to entice consumers to spend more than they own."
Point proven....
I have a cynical streak and have decided that investing in companies that are favored by the Administration and his butt boys are probably better than others.
When it was announced that Soros had bought about 10% of PXP..an oil co..I invested 10k and it has gone to 14k in less than a month.
I am sure he is doing all he can to make that happen while trying to destroy America.
So am I.
Thanks - will do.
Why is Soros still wasting oxygen? That guy’s perhaps the most anti-American individual in history. Geez, I wish he’d just have a massive medical problem and croak.
It is now @ $6.00+!
Haven’t they been telling us all along that China has AVOIDED this slowdown? That their economy is still going gang-busters while we wallow in recession?
WTF?
China didn't get hooked into the subprime mortgage debacle and they have excess reserves to stimulate the economy is the primary reason for the prediction of recovery. It's very basic. So for that, Soros is seen as anti-American for observing what an undergraduate economics major could observe?
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