Tuesday, 20 May 2008

Soros : Global Boom Is Over


"Soros said that the 'acute phase' of the credit crunch may be over but effects on the real economy are yet to be felt."

"He warned the 'financial bubble' of the last 25 years could be drawing to an end and the post World War II 'super-boom' era could also be over."

"He predicted a 'more severe and longer' US slowdown than most people expect."

"The UK housing 'boom (bubble)' is twice as in the U.S. , and housing price and houshold endebtness twice as big in the U.K
."

I'm going through a serie of financial guru and reliable forecasters.
After Trichet, Soros is warning a more severe and longer recession of the U.S economy.

This series allow you to remove lots of noise coming from 'novice' economists (actually often parading in the HS or Kauppalehti columns) that are just giving a false sense of reality and just try to get your money or commitment at a very risky time.

Both made those warnings from the U.K. as we know U.K. might fall into a very severe recession next year or so. It will have ripple effect on Europe, no doubt about it.

There is a good video that can be found here

1 comment:

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