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Soros thinks U.S. is far from recovery while it effectively ruins itself
Commerce Journal ^ | April 7, 2009 | Petrony

Posted on 04/28/2009 2:07:52 PM PDT by mgist

According to George Soros’ forecast the U.S. economy is not to recover in a short time with a possibility of a situation that could be observed in Japan, in other words a long period of low recovery. Speaking to Reuter Financial Television Soros stressed that the government’s efforts aimed at rescuing financial institutions could have unprogramed implications effectively turning them into “zombies” that would suck the lifeblood out of the economy instead of stimulating it.

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

While majority of U.S. analysts expect the economy to show signs of recovery at late 2009 and early 2010 Soros has quite opposite view. He said that the recovery will look like like "an inverted square root sign," Soros said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shape recovery or anything like that. You settle down—step down."

In Soros’ view rescuing the banking and housing markets lead to more crucial aftermaths as long as financial institutions will likely care for themselves and eventually the only motive to drive them would be self-preservative considerations which means that they would pull the blanket to cover themselves in lieu of boosting the economy growth.

"What we have created now is a situation where the banks who will be able to earn their way out of a hole, but by doing that, they are going to weigh on the economy," he said. "Instead of stimulating the economy, they will draw the lifeblood, so to speak, of profits away from the real economy in order to keep themselves alive. This is the zombie bank situation."

He also touched upon the issue of dollar renunciation pointing to that the green currency is vulnerable and the U.S. should treat it seriously.

"I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries," said Soros, whose famous bet against the British pound earned his Quantum Fund $1 billion in 1992. "Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end."

Soros underlined that China will be the first to recover from the crisis which is unsurprising taking into account a large scale of manufacturing the country expanded over the past years supplying its cheap products to every point across the globe. The U.S. in turn was getting more and more absorbed into the financial games. As someone fairly noticed the U.S. had better stop printing money and playing at the financial markets and start increasing its manufacturing volumes while reducing its consumption.


TOPICS: Government
KEYWORDS: democrats; dollar; economy; quantum; quantumfund; sorocrats; soros
The one man who has the greatest individual control over government policy in the United States, is betting on our failure. HHmmmm??
1 posted on 04/28/2009 2:07:52 PM PDT by mgist
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To: mgist

Here is an honest statement by Soros:

“What we have created now is a situation”

yes, you did create this crisis Mr. Soros.

The Democrats are the party of the Ultra Rich.


2 posted on 04/28/2009 2:12:46 PM PDT by lonestar67 ("I love my country a lot more than I love politics," President George W. Bush)
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To: mgist


3 posted on 04/28/2009 2:14:26 PM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: mgist

Why is he always saying “we”? Is he a US citizen?


4 posted on 04/28/2009 2:17:40 PM PDT by demsux
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To: demsux

Why does he still breath?


5 posted on 04/28/2009 2:19:39 PM PDT by OB1kNOb (Politicians do financial/economic surgery to fix ailments much like bloodletters in the Dark Ages.)
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To: mgist

He should know—being part of the oligarchy determined to shred the USA to make the global gov easier to make overtly in power.


6 posted on 04/28/2009 2:21:49 PM PDT by Quix (POL Ldrs quotes fm1900 2 presnt: http://www.freerepublic.com/focus/religion/2130557/posts?page=81#81)
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To: mgist

If Soros were a conservative Republican financier, he would already have been assigned to the cell formerly occupied by Ivan Boesky.


7 posted on 04/28/2009 2:22:14 PM PDT by mkjessup (You're either with our Constitution, or you are with TKU ("The Kenyan Usurper"). CHOOSE!!!)
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To: mgist

0’s masters won’t be satisfied until the US is smoldering in ruins, and 0 won’t be happy until he pleases his masters.


8 posted on 04/28/2009 2:25:23 PM PDT by pallis
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To: mgist

It’s just CYA. He knew where these policies would lead when he helped implement them. In fact stagnation is the desired result but he needs something on the record that covers his six when the inevitable happens.


9 posted on 04/28/2009 2:28:02 PM PDT by saganite (What would Sully do?)
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To: demsux

I googled, and apparently he is a US citizen.


10 posted on 04/28/2009 2:32:33 PM PDT by brytlea (Jesus loves me, this I know.)
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To: brytlea

If he lied on his citizenship application, the POS can be deported and denationalized..


11 posted on 04/28/2009 2:36:03 PM PDT by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: brytlea

Proof positive of our declining standards.


12 posted on 04/28/2009 2:37:46 PM PDT by 12Gauge687 (Extremism in the defense of liberty is no vice)
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To: demsux

In The Age of Fallibility, Soros gives immigration short shrift, saying that Europe, with an aging population, needs immigrants as an economic necessity. Soros brags that while he is a U.S. citizen, he is also a European. For open-society advocates, citizenship has little meaning.

http://archive.newsmax.com/archives/articles/2006/7/25/104735.shtml

Reading this article you can understand where obama gets his policies that will demolish our beloved USA.


13 posted on 04/28/2009 2:38:17 PM PDT by BARLF
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To: mgist

This guy is the problem and he knows it.


14 posted on 04/28/2009 2:53:21 PM PDT by freekitty (Give me back my conservative vote.)
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To: sheik yerbouty
If he lied on his citizenship application, the POS can be deported and denationalized..

Wish Russia would enforce the warrant they have on him and force extradition. SOB's greed and lust for power has no end no matter how many billions of people he effects.

15 posted on 04/28/2009 3:18:21 PM PDT by jedi150
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To: mgist

This guy is in league with the devil on the sidelines pulling the strings and manipulating all the greedy people on the planet to the final outcome of all things. How else do you explain evil government and power taking control?


16 posted on 04/28/2009 3:46:05 PM PDT by Mat_Helm
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To: demsux

He is indeed. The Nazi collaborator is a naturalized US citizen.


17 posted on 04/28/2009 4:19:03 PM PDT by jazminerose
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To: Mat_Helm

http://canadafreepress.com/index.php/article/8574

George Soros: International Man of Misery


18 posted on 04/28/2009 4:22:21 PM PDT by jazminerose
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To: sheik yerbouty

Lied about what? (I’m not doubting you, just not sure what you’re referring to).


19 posted on 04/28/2009 4:25:44 PM PDT by brytlea (Jesus loves me, this I know.)
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To: 12Gauge687

No kidding.


20 posted on 04/28/2009 4:25:55 PM PDT by brytlea (Jesus loves me, this I know.)
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To: brytlea

Any questions pertaining to his biography or refugee status..


21 posted on 04/28/2009 7:45:01 PM PDT by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: jedi150

Let the Russkies grab him..


22 posted on 04/28/2009 7:46:08 PM PDT by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: sheik yerbouty

Is Soros still alive? ... Imagine that!


23 posted on 04/28/2009 7:46:46 PM PDT by MHGinTN (Believing they cannot be deceived, they cannot be convinced when they are deceived.)
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To: sheik yerbouty

I wouldn’t have any way of knowing about that.


24 posted on 04/28/2009 7:49:00 PM PDT by brytlea (Jesus loves me, this I know.)
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To: MHGinTN

The old vampire only looks dead..


25 posted on 04/29/2009 2:04:56 PM PDT by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: mgist

Soros said, adding that in 2010 there might be “something” in terms of U.S. growth.

Gee George, that wouldn’t have anything to do with having
a Republican house and Senate again would it?


26 posted on 04/29/2009 2:08:10 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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