U.S. Recession Is `Almost Inevitable'

nhboy · 01-23-2008, 03:34 PM

Soros Says U.S. Recession Is `Almost Inevitable' (Update1)

" Jan. 23 (Bloomberg) -- Billionaire investor George Soros said a U.S. recession is all but certain as lenders and investors stop the flow of credit, while the global economy probably will avoid contraction.

``I think it is almost inevitable that the turmoil in the financial markets will affect the real economy,'' Soros, 77, said today in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. ``I don't expect a global recession,'' said Soros, founder of New York-based hedge-fund firm Soros Fund Management LLC, which has $17 billion in assets.

The U.S. Federal Reserve, which yesterday announced its first emergency rate cut since 2001 in an effort to calm U.S. recession worries, is ``doing the right thing, lowering interest rates,'' just not quickly enough, Soros said.

``I think the Fed is well behind the curve, and has been reacting instead of being proactive,'' he said, adding that the primary blame lies with former Chairman Alan Greenspan.

``Alan Greenspan mishandled it by keeping interest rates too low too long and also ignoring dangers in the housing market,'' Soros said. "

Bloomberg.com: Worldwide

RadioPatrol · 01-27-2008, 11:57 PM

YEAH Glen Beck has been talking about this for a while now ...........

nhboy · 01-28-2008, 10:45 AM

U.S. Recession Is... 01-29-2008 12:29 AM stop

U.S. Recession Is... 01-29-2008 04:48 AM

Toxick · 01-28-2008, 11:00 AM

Quote:

Originally Posted by nhboy

[b][u][color="Blue"]" Jan. 23 (Bloomberg) -- Billionaire investor George Soros said a U.S. recession is all but certain as lenders and investors stop the flow of credit, while the global economy probably will avoid contraction. But luckily, if we vote for Monica's ex-boyfriend's wife, we can avoid catastrophe, because she's destined to save the world!

...

*MMDad* ^(Premo) · 01-28-2008, 11:02 AM

Quote:

Originally Posted by nhboy

[Billionaire investor George Soros said a U.S. recession is all but certain

If I didn't know any better, I would think he was trying to influence an election. Good thing he'd never do that.

smilin · 01-28-2008, 11:17 AM

Quote:

Originally Posted by MMDad

If I didn't know any better, I would think he was trying to influence an election. Good thing he'd never do that.

Ya think?

01-23-2008, 03:34 PM	#1 (permalink)
nhboy Don't Tase Me, Bro! Member Since: Aug 2007 Posts: 4,627	U.S. Recession Is `Almost Inevitable' Soros Says U.S. Recession Is `Almost Inevitable' (Update1) " Jan. 23 (Bloomberg) -- Billionaire investor George Soros said a U.S. recession is all but certain as lenders and investors stop the flow of credit, while the global economy probably will avoid contraction. ``I think it is almost inevitable that the turmoil in the financial markets will affect the real economy,'' Soros, 77, said today in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. ``I don't expect a global recession,'' said Soros, founder of New York-based hedge-fund firm Soros Fund Management LLC, which has $17 billion in assets. The U.S. Federal Reserve, which yesterday announced its first emergency rate cut since 2001 in an effort to calm U.S. recession worries, is ``doing the right thing, lowering interest rates,'' just not quickly enough, Soros said. ``I think the Fed is well behind the curve, and has been reacting instead of being proactive,'' he said, adding that the primary blame lies with former Chairman Alan Greenspan. ``Alan Greenspan mishandled it by keeping interest rates too low too long and also ignoring dangers in the housing market,'' Soros said. " Bloomberg.com: Worldwide __________________ "The trouble with having an open mind, of course, is that people will insist on coming along and trying to put things in it" (Terry Prachett) The Pledge Disabled American Veterans The Marine Defense Fund Medical Aid for Iraqi Children
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01-27-2008, 11:57 PM	#2 (permalink)
RadioPatrol Sigh .... Member Since: Dec 2006 Location: Fort Washington, MD Posts: 6,271	YEAH Glen Beck has been talking about this for a while now ........... __________________ If you can't prove it didn't happen then it must be true and you are probably part of the cover-up. All Animals are Created Equal, Some Animals are More Equal Than Others ......... Guns don't kill people. Morons with guns kill people. Los Pepes... Survival Blog Μολὼν λαβέ Hakkaa Päälle
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