Soros Sees No Bottom For World Financial "Collapse"

Quote from makloda:

"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money --.....
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Fun discussion;
and it certaintly'' marked a turning point for LEH''
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I like Mr Soros trading comments generally[not all his politics],;
he maybe jealous that Jack Schwager interviewed Jim Rogers:D

Actually as a n experienced real estate appraiser said ;
''it [real estate ]WOULD NOT BE HARD TO FIX, I'VE DONE HARDER''

I agree that ''no bottom '' for mis-managers like Citigroup;
mis-managers , no matter how much capital they get, still live thier ''mis-managers '' nickname.

And not to long ago , Mr Soros was on CNBC[which i dont watch as much as FOX, CBN, ANN news..... ];
he mentioned ''counter part risk/financials'' & the market roared UP/turning point.:cool: Funny but true
 
If the free markets had their way not only Lehman would have failed and defaulted in an uncontrolled way, but also AIG, Hypo Real Estate and Latvia/Hungary/Ukraine and Romania -- all within 10 days of Lehman.

I wonder how much better the "average person" would be doing right now if all this would have played out according to the Laissez-Faire playbook.
 
Quote from makloda:

I wonder how much better the "average person" would be doing right now if all this would have played out according to the Laissez-Faire playbook.
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We'd be getting on with our lives in a world without any bailouts for idiot speculators.
 
Quote from sprstpd:We'd be getting on with our lives in a world without any bailouts for idiot speculators.
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Yes you would, as the world gets knocked back into the 1500s, pre-industrialization. Getting on with your life on a farm, couple chickens, a pig and a horse.
 
Quote from makloda:

"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money -- will not lead to a global financial meltdown.
More...

Yeah, letting Lehman fail is what caused the global meltdown...
What about the 20 other companies that have been bailed out?
Do you not see the folly of your conclusion?
 
He is talking up his book, nothing he hasn't done before. This article is from over 1 year ago.

http://www.aim.org/aim-column/soros-bets-on-us-economic-collapse/


The Wall Street Journal on Tuesday ran a fascinating front-page story about John A. Paulson, a Wall Street trader who has made billions of dollars betting that the housing market would collapse. The Journal says that Paulson personally made between $3 and $4 billion, “the largest one-year payday in Wall Street history.” The story suggests he has been somewhat secretive about his activities but is now opening up about his “historic coup” in comments to Journal reporter Gregory Zuckerman.

While there is nothing improper or illegal in how Paulson made his money, there are no details about where he got some of his funds or exactly how he placed his financial bets. The paper notes that “European investors” gave him about $150 million and that he is so savvy that George Soros “invited Paulson to lunch, asking for details of how he laid his bets, with [financial] instruments that didn’t exist a few years ago.” The article said that “Soros is famous for another big score, a 1992 bet against the British pound that earned $1bn for his Quantum hedge fund.” Soros “declined to comment” about his meeting with Paulson, the Journal said.

Declined to comment? Since Soros is a major supporter of the secretive Democracy Alliance, a group backed by rich liberals who fund a network of liberal-left groups dedicated to electing Democrats to the White House and Congress, could the discussion have also been political in nature?

The American people should be quickly educated by our media on how very rich people like Paulson and Soros make “bets” on the rise or fall of national currencies and economies. Paulson is now telling investors “it’s still not too late” to bet on more economic problems. These are capitalists who seem to have a vested interest in the further decline of the U.S. economy.

We may not know much about Paulson, but we know a lot about Soros. He is a financial manipulator, convicted of illegal insider trading in France for playing financial games with a bank there.
 
Quote from makloda:

"He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system."

A slap in the face of all the free market fanboys that happily explained how letting Lehman fail -- because it would constitute a moral hazard wasting taxpayers' money -- will not lead to a global financial meltdown.
More...

He went long Lehman disregarding reality and betting that the taxpayers will subsidize his wealth. I truly hope he loses everything. He is a parasite.
 
Quote from makloda:

Yes you would, as the world gets knocked back into the 1500s, pre-industrialization. Getting on with your life on a farm, couple chickens, a pig and a horse.
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Not likely. There would have been a long period of pain before the even keel. But all these bail-outs, borrowing and stimulus plans are going to lead to one thing: the increase in demand for the supplies of the soup kitchen.
 
Quote from lolatBushites:

without Soros, Eastern Europe would have devolved into anarchy and the middle ages.

The only people who dislike Soros are the Republican voter base. These are the same imbeciles who think wearing a flag on the lapel is the height of patriotic sophistication. Their opinions have been handily discounted as irrelevant.
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Ignore listed.
 
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