Soros Warns of a Financial Crash

George Soros has warned investors of an impending financial markets crash. According to TheStreet.com, he compared the current situation to the 2008 financial crisis, an epic event not seen since the 1929 Crash and subsequent depression.

The reasons for upcoming storm include an economic slowdown in China (and the recent stock market losses there), the massive government debt in the rich economies (United States, Western Europe, and Japan) as well as collapsing oil prices.

What’s more, the Greek debt crisis hasn’t been resolved. Soros made a similar prediction back in 2011 in the midst of a Greek crisis, which has been avoided (or, more likely, postponed) by more money from the European Union governments. Yet, as time is passing, it is becoming more apparent that Greece hasn’t truly resolved its economic and debt problems.

What Soros has to say is watched by many. While his political views and ideas (such as importing a million Middle Eastern migrants a year to Europe) have been severely criticized, he is considered to be a financial guru with a net worth of $27 billion.

The track record is undeniable. Soros’s funds have averaged 20% a year over several decades, performance most fund managers could only dream of. Back in 1990s, Soros even made a billion dollars in a single day by betting on a decline of a British Pound. Since then, he has been called “the man who broke the Bank of England.”

Many on Wall Street agree with Soros. Morgan Stanley, a well-known financial institution, advised its clients not to buy on dips anymore, especially when it comes to the Chinese stock market. Its analysts predict further drops in equity prices.

 

  1. Smith says:

    There’s no doubt Soros has great knowledge and experience when it come to the financial markets. At present, investors feel uncomfortable. Only time will tell if George Soros was right this time. That is why the need to buy an essay cheap in order to support their ministry.

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