Monday, January 28, 2008

George Soros on the Coming Economic Doom

There was also a very interesting interview with him last week on Bloomberg.com

http://business.timesonline.co.uk/tol/business/economics/article3257268.ece

When George Soros says that the world is facing its worst financial crisis since the second world war, businessmen, politicians and the public pay attention. This, after all, is the man who famously made $1 billion betting against the pound in 1992.

“The current crisis is not only the bust that follows the housing boom,” he said. “It’s basically the end of a 60-year period of continuing credit expansion.”

Soros is just one more opinion out of thousands out there but I usually take notice when he speaks up. Anyone who has had as much success as he has had with the historical longevity that he has under his belt should be listened to.

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