George Soros sees no bottom for global financial “collapse”

February 22, 2009 by · 1 Comment
Filed under: Opinion 

If we are discussing the former financial system based on the previous amount of trust and confidence, Mr. Soros is correct.  There has been an excessive amount of debt built up in the system right now, while the engine that generated that income is falling apart.

Until we deal with those obligations, we are not going to stabilize the markets.  All impairments affects the market is some manner somewhere.  We broke an important technical support on Friday so it looks to be a choppy week.

News:

“Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

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

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Comments

One Response to “George Soros sees no bottom for global financial “collapse””
  1. Maria Lundberg says:

    About the global financial collapse how come,
    the richer get even more richer…………we are living in an capitalistic ecomomy………I have lost my son because of it,,,,,,,,,have not seen him for two years…………….I was not so smart and planned for a better economic situation for my self…………….could not fight against authorities, was just for the moment student and did not appeal because I did not have the money……………thanks Maria Lundberg

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