Soros – No Bottom in Sight for World Financial Collapse!
- Just how bad are things? Alot worse than most think. How bad is it going to get ? George Soros comments in Soros sees no bottom for world financial “collapse” :
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.
“We witnessed the collapse of the financial system,” Soros said at a Columbia University dinner. “It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”
- Soros says it is more severe than the Great Depression. Yes definitely much worse. The speed of collapse is also astounding. Paul Volcker the former FedRes Chairman adds Crisis May be Even Worse than Depression:
The global economy may be deteriorating even faster than it did during the Great Depression, Paul Volcker, a top adviser to President Barack Obama, said on Friday.
Volcker noted that industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.
“I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” Volcker told a luncheon of economists and investors at Columbia University.
Given the extent of the damage, financial regulations must be improved and enhanced to prevent future debacles, although policy-makers must be cautious not disrupt things further while the turmoil is ongoing.
- The MSM has slowly but surely come around to admitting that we are in a Great Depression. I hear lesser amount of optimistic delusional points of view parroted about. This is a sign of an impending collapse, a major cataclysmic event that is about to take place.
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