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Editorial
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Title: Soros predicts worst recession for 50 years
Source: [None]
URL Source: [None]
Published: Jan 22, 2008
Author: http://www.thefirstpost.co.uk/people,601
Post Date: 2008-01-22 21:02:09 by tom007
Keywords: None
Views: 111
Comments: 2

Soros predicts worst recession for 50 years

Amid collapsing stock prices worldwide, the billionaire investor George Soros has told an Austrian daily, the Standard, that the United States is threatened with recession and the world is facing the worst financial crisis in half a century. "The situation is much more serious than any other financial crisis since the end of World War II," Soros was quoted as saying.

He said over the past few years politics had been guided by some basic misunderstandings stemming from something that he called "market fundamentalism" - the belief that financial markets tended to act as a balance. "This is the wrong idea," he said. "We really do have a serious financial crisis now."

He added he was surprised how little it was understood that a US recession was also a threat to Europe. European shares duly fell nearly six per cent on Monday, their biggest one-day slide since 9/11.

Meanwhile in Mumbai, some market analysts are suggesting Soros shorted the Indian markets last week. Over 15 years after he shorted the British pound in September 1992 and earned one billion dollars, local market sources say one of Soros's funds may have shorted the Nifty last week. Stockmarket crash: where do you put your money now? More Previous return to People Next sign up for our daily email

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#1. To: tom007, *Bush Recession 2007* (#0)

Ron Paul for President - Join a Ron Paul Meetup group today! The Revolution will not be televised!
I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.-T Jefferson

robin  posted on  2008-01-22   21:55:14 ET  Reply   Trace   Private Reply  


#2. To: tom007 (#0)

worst recession for 50 years

I don't understand. I think 1958 was a good year. Does he mean worst recession in 80 years?

.

...  posted on  2008-01-22   21:55:41 ET  Reply   Trace   Private Reply  


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