2008 Crash Might Happen Again: Soros On Global Economy

George Soros is known for his investment firm, Soros Fund Management, and he is known for his charity, the Open Society Foundations. Both of these have been around for several decades. Soros is also famous for several of his big investments. In the 1990s, Soros bet 10 billion dollars against the British Pound and he walked away with a profit of a billion dollars. He was also famous for the types of returns he was able to get annually on investments. He saw returns as high as 100 percent and on average, over the course of several decades, he could bring in about 20 percent returns annually. Soros received the training to do this at the London School of Economics. He then went on and got experience at firms like Singer and Friedlander, in London, and F.M. Mayer, Arnhold and S. Bleichroeder, and Wertheim and Co, in New York City. In these various firms, Soros served as a trader and analyst and was an expert when it came to European stocks and securities. When Soros accumulated significant wealth through investing, he decided it was time to step back from his firm and pursue the causes he was passionated about. It was only then that Soros founded the Open Society Foundations.

In a recent article from Bloomberg, George Soros’ recent comments at an economic forum were discussed. Soros stated how fears that the economy is slowly taking a turn for the worse and that a repeat of 2008 is very likely. Soros said that a lot of the blame goes to the current economic crisis happening in China. The manufacturing sector is failing and the country is struggling to come up with another growth model to follow. This devaluation in such a major global currency is making it difficult for the developing world to create positive interest rates. One of the more shocking statistics was that 2.5 trillion dollars was lost in equity value during the last year. There have also been incidents that have temporarily halted trade, such as plunges in Chinese equities.

Read more: https://www.project-syndicate.org/columnist/george-soros

With both the Chinese financial crisis and the European Union financial crisis happening at the same time, the question will end up being whether the global economy can hold out long enough until solutions are developed, implemented and working with seen results. Only time will tell if Soros’ prediction is correct and if it is, whether it can be fixed.

One thought on “2008 Crash Might Happen Again: Soros On Global Economy

  • by Bradley Josh This is post author

    Another one of Soros’s warnings was in regard to the current situation in Greece. The debt that the European Union now faces, according to Soros, is a worse situation in the financial crisis in 2008. It has also come to the notice of online writing services topbritishessays.com that many people are still holding from it too.

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