Did anyone catch the interview? I was half as sleep at the time so I dont remember exactly what he said, but he mentioned that he was bullish on the US dollar but would say the reason or when it should start agressively going up. Could anyone confirm this please? I want to make sure it wasnt a vivid dream haha.
Soros on Bloomberg last weekend
- Thread starter aradiel
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He said we're likely headed for a depression, and that the problems we face today are actually far greater than during the Great Depression.
http://www.forexhound.com/article/Stocks/Stocks/UK_Times_George_Soros_Sees_Global_Meltdown/129651
This recession, he explains, is a âonce-in-a-lifetime eventâ, particularly in Britain. âThis is a crisis unlike any other. Itâs a total collapse of the financial system with tremendous implications for everyday life. On previous occasions when you had a crisis that was threatening the system the authorities intervened and did whatever was necessary to protect the system. This time they failed.â
The financial oracle does not know how long it will last. âThat depends on how itâs handled. Allowing Lehman Brothers to fail was the game-changing event. Thatâs when the financial crisis went over the brink.â We could end up with a depression. âUnless we handle it well then I think we would. The size of the problem is actually bigger than in the 1930s.â
This looks like his most recent Bloomberg interview:
http://www.youtube.com/watch?v=Zhx-ywi9jB8
http://www.youtube.com/watch?v=Zhx-ywi9jB8
Quote from Debaser82:
He said 'I know what the dollar is going to do but I can't tell it on TV'.
He also said this when Tech Ticker (Yahoo Finance thing) was interviewing him.
Did you guys see the SNL skit last fall where Congress was parading around people hurt by the credit crisis and they made fun of Soros? It remind me of that. They had Soros say something like "The dollar will have to crash, sometime soon. Maybe Tuesday, maybe Wednesday, I haven't decided yet."
I'd like to know how much vested interest he has in the banks before listening to these guys. They're big players and they know they can move markets with their words. I just got back from England, things are fine in London, rich people are still rich and lower income people are still struggling. That may be a possibility for the future of the US as far as reducing the middle class and some going to the upper class and others reduced to the lower class. As far as this being 'worse than that great depression' I'm more sick of hearing that than I am hearing Cramer. This isn't a total collapse, this isn't the end of the financial system, or any other doomsday scenario these jerk offs keep touting. Open your eyes people. Even here in new york, people might be shopping a little less, but I still see people in maybachs and ferraris and girls buying $3,000 gucci bags.
Soros is a pleasant guy on that video... He took down the Thatcher government when he made his billion on the British currency though... pretty scary thing to do for such a nice guy... communists are always likeable though, I worked with an Iranian PhD in Electronics, he was a marxist and really likeable like Soros, very intelligent, I loved working with the guy, the level of conversation and work was intelligent, always... the dang guy could be presented with a problem others were working on and always, within a couple of weeks he would find an extremely simple solution... I would always be thinking "why didn't these guys here think of that"...
Soros expresses some concern for the emerging countries, that's nice... he also was Obama's backer in politics early in his career and imo he's the reason Obama is in office today. He might have manipulated the ABX index to bring the current crisis to light before the election, that was one theory from the blog world or somewhere, who has a clue really...
Soros expresses some concern for the emerging countries, that's nice... he also was Obama's backer in politics early in his career and imo he's the reason Obama is in office today. He might have manipulated the ABX index to bring the current crisis to light before the election, that was one theory from the blog world or somewhere, who has a clue really...
I don't know if this is what Soros sees, but this would produce the same outcome:
The S&P is capped at 1500, and is no longer in any kind of uptrend in any tradeable time horizon that a 401(k) investor would be interested in.
Just as a market that can't go down will go up, a market that can't go up will go down. There is an ultimate bottom to the S&P, but it's years away. That also means the ultimate bottom to this economic cycle is also years away.
What we're experiencing now is just the appetizer, which is why Gucci bags are still selling. They're clearing it away now, and in the kitchen the main course is almost ready. For the next couple years the market will probably go up in the aggregate.
After that comes the real fun.
The S&P is capped at 1500, and is no longer in any kind of uptrend in any tradeable time horizon that a 401(k) investor would be interested in.
Just as a market that can't go down will go up, a market that can't go up will go down. There is an ultimate bottom to the S&P, but it's years away. That also means the ultimate bottom to this economic cycle is also years away.
What we're experiencing now is just the appetizer, which is why Gucci bags are still selling. They're clearing it away now, and in the kitchen the main course is almost ready. For the next couple years the market will probably go up in the aggregate.
After that comes the real fun.