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Soros Warns of Market Crash
Money News ^ | 04/15/10

Posted on 04/16/2010 4:59:50 AM PDT by TigerLikesRooster

Soros Warns of Market Crash

Thursday, April 15, 2010 10:58 AM

Railway porter-turned-billionaire financier George Soros delivered a stark warning that the financial world is on the wrong track and that it may be hurtling towards an even bigger boom and bust than in the credit crisis.

The man who ‘broke’ the Bank of England (and who is still able to earn a cool $3.3 billion in a year) said the same strategy of borrowing and spending that had got us out of the Asian crisis could shunt the financial world towards another crisis unless tough lessons are learned.

Soros, who worked as a porter to pay for his studies at the London School of Economics after emigrating from Hungary, warned the financial world to heed the lesson that modern economics had got it wrong and that markets are not inherently stable.

“The success in bailing out the system on the previous occasion led to a superbubble, except that in 2008 we used the same methods,” he told a meeting hosted by The Economist at the City of London’s modern and impressive Haberdashers’ Hall.

“Unless we learn the lessons, that markets are inherently unstable and that stability needs to the objective of public policy, we are facing a yet larger bubble.

“We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.”

One crumb of comfort could be the 10-year period between the 1998 Asian crisis and the 2008 credit crisis. If the pattern is repeated, it should at least mean we have another eight years to go before the next crash.


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bubble; consciencefree; corruption; crash; democrats; economy; fascism; immorality; investments; liberalfascism; morality; obama; shadowparty; soros; souless; sovereigndefault; stocks

1 posted on 04/16/2010 4:59:50 AM PDT by TigerLikesRooster
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To: TigerLikesRooster
Soros Warns of Market Crash

this c*** s****r should know....

....he orchestrated it.

2 posted on 04/16/2010 5:02:07 AM PDT by Vaquero (BHO....'The Pretenda from Kenya')
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To: TigerLikesRooster

I’ll bet.

I’ll also bet that if he wanted to he could provide the exact date and time when this “crash” is going to occur.


3 posted on 04/16/2010 5:02:45 AM PDT by WayneS (Respect the 2nd Amendment; Repeal the 16th)
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
it should at least mean we have another eight years to go before the next crash.

OK. 8 more years of another superbubble? He really wants TEOTWAWKI.

4 posted on 04/16/2010 5:02:52 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

And Georgy Boy should be given credit for helping to set up the crash.


5 posted on 04/16/2010 5:05:26 AM PDT by windsorknot
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To: TigerLikesRooster

From the San Francisco Chronicle:

Soros is a behind-the-scenes despot. He is an evil man who has used his wealth to further all the causes the Democrat Party holds dear.

He was also a Nazi sympathizer. In his autobiography, entitled “Soros on Soros,” he blithely describes how as a teenager he helped cart off the possessions of Hungarian Jews after they were sent to concentration camps. Soros wrote that this never bothered him, even though his father was Jewish and he grew up in a Jewish home. He says he has no regrets for his actions. “Somebody would have done it,” he wrote.


6 posted on 04/16/2010 5:06:07 AM PDT by CreviceTool (When will Robert Mugabe be named the "Czar from Afar?")
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To: TigerLikesRooster
Can you say DNC- and Soros- PLANNED October Surprise"? Of course you can.

PART 1: - Incredible, proven, systematic, pro-Clinton, pro-Obama, pro-RINO, media Bias.

PART 1: - Endless Loans to Illegal Aliens, and then the Gambling Bankers without Accountability


PART 2: October Surprise to THROW Election2008, driven by Paulson/Geithner/Dodd/Obama and the so-willing MSM.

Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks"
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve
noticed a tremendous draw down of money market accounts in the USA
to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically. The treasury tried to help with $150 Billion.
But could not stem the tide. It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon.
Within 3 hours. $5.5 Trillion would have been withdrawled
and collapsed and within 24 hours the world economy."


FLASHBACK: from 9/15/08:

“U.S. President George W. Bush said Monday he is confident
that the markets are resilient and can deal with the latest financial blows.
“We are working to reduce disruptions and minimize the impact
these financial market developments on the broader economy.” ...

U.S. Democratic presidential candidate Barack Obama
said eight years of Bush “brought us the most serious financial crisis
since the Great Depression.”

His Republican rival said John McCain said he was happy the
federal government decided not to use taxpayer dollars to bail out Lehman Brothers.”

How did Obama know THEN
that we would experience the ‘most serious financial crisis since the Great Depression’
when those who did not plan the takeover would not know for three more months?

7 posted on 04/16/2010 5:06:47 AM PDT by Diogenesis ("Resistance to tyrants is obedience to God." --Thomas Jefferson)
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To: TigerLikesRooster

WHY is this guy still processing oxygen?


8 posted on 04/16/2010 5:06:59 AM PDT by rightwingextremist1776
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To: TigerLikesRooster

He should be taxed 85% percent more.../s


9 posted on 04/16/2010 5:08:14 AM PDT by Dallas59 (President Robert Gibbs 2009-2013)
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To: CreviceTool

Indications of a man without a soul/conscience.


10 posted on 04/16/2010 5:08:31 AM PDT by izzatzo
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To: CreviceTool

The guy is a soulless control freak.


11 posted on 04/16/2010 5:08:56 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster

As Soros pushes from the sideline.


12 posted on 04/16/2010 5:09:43 AM PDT by bmwcyle (Free the Navy Seals)
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To: TigerLikesRooster
“We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.”

Not sure I can disagree with this...

13 posted on 04/16/2010 5:10:41 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: TigerLikesRooster

Title correction:

“Soros Announces Plans For The Next Market Crash”


14 posted on 04/16/2010 5:11:19 AM PDT by Fresh Wind ("...a whip of political correctness strangles their voice"-Vaclav Klaus on GW skeptics)
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To: Wyatt's Torch

Right, but initially he fully backed bailout, if my memory serves right. Now he is changing his tune.


15 posted on 04/16/2010 5:15:06 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster
“We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.”

As much as we hate this man, he is correct with this warning. Sovereign credit has no business in the markets. Indeed the fact that it is there demonstrates how fragile the entire system actually is. One country to go belly-up, one coup-de-tat in a key country...and the whole things comes down due to sovereign credit.

16 posted on 04/16/2010 5:16:44 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: TigerLikesRooster

Not necessarily... I also backed the bailout but the subsequent debt has not been reduced. It has exploded and shows no signs of slowing down. While the failure of private banks would have been a disaster, the failure of the U.S. government would be catastrophic...


17 posted on 04/16/2010 5:22:56 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: TigerLikesRooster
It is being artificially propped up now by the obama regime.

Once he has his thugs in place to take control, he will give the word to pull out the props and everything will come tumbling down.

No more private pensions, no social security. No more saving accounts, no IRAs. Only obama approved private sector business. Only obama approved college students. Only obama approved government workers and bureaucrats. Members of the Armed Forces and political offices will swear allegiance to obama and not to the Constitution. But if the political office holders are as loyal to obama as they are now loyal to the Constitution,them swearing allegiance to obama won't mean much.

To make a long story short, obama meant every word about changing the United States into a Socialist dictatorship. That is the only campaign promise he fully intends to carry out.

The idiots and parasites that voted for change are about to get a belly full of it. None of which they will like when it is fully implemented.

18 posted on 04/16/2010 5:24:44 AM PDT by sport
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To: EBH
Actually things are so fragile that even Kim Jong-il has a reasonable shot at bringing down the entire global market.

I have always had a major beef with this troubling development. That is, leverage is so outrageous which made market fragile, even during boom time. All it takes is some local nutjob who could throw a monkey wrench and crash the world financial market.

19 posted on 04/16/2010 5:24:55 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: Wyatt's Torch
There is no realistic way of reducing it without some major banks going under. I never thought that one-time bailout would do the trick.
20 posted on 04/16/2010 5:28:33 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: Vaquero

Yup. So his Puppet could get access to all our State secrets. We are in DEEP doo-doo.


21 posted on 04/16/2010 5:30:34 AM PDT by originalbuckeye
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To: TigerLikesRooster

I’m no economic guro or economic history buff, but I recall learning from my parents that the Great market crash was mostly the result of people using private credit to buy stocks. At least that is how it was explained to me years ago.

Now we have whole countries in the “markets” on credit. The scale of the crash will be beyond measure.

Add onto the now imminent volcano cooling issue, within the year things will be very different than today. The ash spreading across Europe and the globe will cool and shorten growing seasons, make winters more difficult etc. And if the other sister blows...well all bets are off.

Ok, I’ll put my tinfoil hat on now.


22 posted on 04/16/2010 5:34:12 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: EBH
"Add onto the now imminent volcano cooling issue, within the year things will be very different than today. The ash spreading across Europe and the globe will cool and shorten growing seasons, make winters more difficult etc. And if the other sister blows...well all bets are off."

These are real concerns...not as 'tin-foil' as you may think. If the other 'sister' blows, millions will probably starve to death.

23 posted on 04/16/2010 5:51:54 AM PDT by blam
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To: blam

You know, people propose many theories about rather abrupt and erratic nature of weather changes over many millenia. I wonder if many of those patterns are result of some catastrophic natural phenomena such as asteroid/comets or geologic events such as earthquake or volcanic eruption(on land and on the bottom of sea.)


24 posted on 04/16/2010 5:57:15 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: WayneS

I’ll also bet that if he wanted to he could provide the exact date and time when this “crash” is going to occur.

&&&
My thoughts exactly.


25 posted on 04/16/2010 5:59:32 AM PDT by Bigg Red (Palin/Hunter 2012 -- Bolton their Secretary of State)
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To: TigerLikesRooster
"You know, people propose many theories about rather abrupt and erratic nature of weather changes over many millenia. I wonder if many of those patterns are result of some catastrophic natural phenomena such as asteroid/comets or geologic events such as earthquake or volcanic eruption(on land and on the bottom of sea.)"

Most definately, YES!

The link below is the worst case, only 2,000-10,000 people worldwide survived:

Late Pleostocene Human Population Bottlenecks. . . (Toba)

This event is recorded in our DNA.

26 posted on 04/16/2010 6:04:26 AM PDT by blam
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To: TigerLikesRooster
The Dark Ages: Were They Darker Than We Imagined?
27 posted on 04/16/2010 6:06:36 AM PDT by blam
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To: TigerLikesRooster

Or the breath of God...we forget he is the masterfisherman drawing his nets up under all of us.


28 posted on 04/16/2010 6:10:41 AM PDT by mdmathis6 (Mike Mathis is my name,opinions are my own,subject to flaming when deserved!)
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To: Bigg Red

Me too. And I’m betting this coming October. Surprise!


29 posted on 04/16/2010 6:13:57 AM PDT by ptcmama
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To: blam

Very interesting reading in your links. I’ll spend more time after work reading through them.

Thanks


30 posted on 04/16/2010 6:14:00 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: blam

The Little Ice Age
http://www2.sunysuffolk.edu/mandias/lia/little_ice_age.html

I do not support this guys disclaimer at the top of his essay, but the short description of the challenges from this time period may be instructional.


31 posted on 04/16/2010 6:15:19 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: EBH
"Very interesting reading in your links. I’ll spend more time after work reading through them."

Ahem, pick up some extra groceries on your way home.....

32 posted on 04/16/2010 6:21:05 AM PDT by blam
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To: mdmathis6
Or the breath of God...we forget he is the masterfisherman drawing his nets up under all of us.

God is annoyed by me, and Jesus hates me.

33 posted on 04/16/2010 6:27:03 AM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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To: TigerLikesRooster

Arrest the you know what. Give him 300 years. Bernie got 150.


34 posted on 04/16/2010 6:34:39 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: TigerLikesRooster
The videos of the Wisconsin fireball the other evening are quite interesting. It appeared to brighten as it went along, explode and then disappear off in the distance. I suspect that it was a rock (one guess was 1 meter diameter) which grazed the atmosphere, but came in fairly low, got quite hot and then bounced off into space.
35 posted on 04/16/2010 7:41:21 AM PDT by Western Phil
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To: TigerLikesRooster

8 more years?

Nah, my opinion is that the period will get shorter as the collective consciousness of the people that make up the market recognizes the unsustainability of the whole mess.

The rule is “Don’t panic. But if you have to panic, panic first”. The panic will be sudden and once again Joe Six Pack is going to left standing when the chairs are pulled away.


36 posted on 04/16/2010 7:48:36 AM PDT by glorgau
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To: Lazamataz

You may be a little closer to them than a lot of us are in someways...if you can catch an inkling of a vision of the yearning they have for you to be in the Kingdom, just a taste of that unmerited love and grace. I’ll pray that you do!


37 posted on 04/16/2010 8:59:18 AM PDT by mdmathis6 (Mike Mathis is my name,opinions are my own,subject to flaming when deserved!)
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To: mdmathis6
Jesus kicked my ass the other day.

He brought two friends.

Jesus hates me.

He truly hates me.

38 posted on 04/16/2010 9:00:49 AM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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To: TigerLikesRooster

39 posted on 04/16/2010 9:11:28 AM PDT by Freedom_Is_Not_Free (Bye bye Miss American Freedom. When did we vote for Communism?)
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To: Lazamataz

Well if you say so...though I suspect you do a fairly good job beating your own self up!


40 posted on 04/16/2010 9:26:10 AM PDT by mdmathis6 (Mike Mathis is my name,opinions are my own,subject to flaming when deserved!)
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To: TigerLikesRooster
Unless we learn the lessons, that markets are inherently unstable and that stability needs to the objective of public policy, we are facing a yet larger bubble.

What is comes down to, Mr Soros, is that you can either have markets or you can have public policy but the two are mutually exclusive.

We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.

Keep smothering the fire with regulations and debt and eventually you will have a very stable and very cold pile of ashes. No Risks. No Benefits.

41 posted on 04/16/2010 9:45:20 AM PDT by Theophilus ('a dog is smarter than its tail', but if the tail were smarter, then the tail would 'wag the dog'.)
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To: mdmathis6
Jesus tazed me with electrified brass knuckles.

Jesus does NOT PLAY.

42 posted on 04/16/2010 9:55:49 AM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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To: Lazamataz

Must have been quite a punch...or have you been drinking some “spiked” punch with some “tazing juice” added to it?


43 posted on 04/16/2010 11:14:31 AM PDT by mdmathis6 (Mike Mathis is my name,opinions are my own,subject to flaming when deserved!)
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To: mdmathis6

44 posted on 04/16/2010 11:17:22 AM PDT by Lazamataz ("We beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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To: TigerLikesRooster

The puppet master speaks.


45 posted on 04/16/2010 11:20:12 AM PDT by Texas resident (Outlaw fisherman)
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To: TigerLikesRooster

Yep.. because he’s going to make sure it happens.


46 posted on 04/16/2010 3:32:36 PM PDT by SandRat (Duty, Honor, Country! What else needs said?)
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