Friday, Apr 03, 2009
VIDEO:George Soros likes the G20 deal but considers British Economy to be in deep trouble
BBC News - Video: George Soros on G20 deal
Worth a view in case you missed it on Newsnight. Soros mentions "extreme" over valuation in UK housing market mid way through interview.
Posted by hotfoot @ 05:33 PM (388 views) Add Comment
4 Comments
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1. quiet guy said...
Interesting.
I was surprised to hear Soros say that more regulation is the answer - regulation of credit as well as the money supply.
Regarding his comment that our housing valuations are more extreme, that implies to me that we will have a very long drawn out slump, perhaps going well past 2010, based upon the American experience.
2. Dan said...
George Soros: 02:55
"The outlook for the British economy was even worse than it was for the United States, because the financial sector is so important, and the excess in the valuation of houses is more extreme here"
3. dbc reed said...
Notice that Soros contrasts US housing-market slump caused by building too many houses with UK situation where the reverse is true( except with the case of city centre flats).Greenspan kept banging on about the "overhang" of unsold properties in the US but he was buried under a lot of analysis of the banks and lending institutions which were reacting (in pamic) to discovering that they had lent into a falling housing market caused in part by over-supply.
4. Brian Barker said...
Did you know that George Soros would not be a multi-billionaire if it were not for the international language Esperanto?
Born in Hungary in 1930 as Gyorgy Schwartz, the family changed its name in 1936 to Soros, which in Esperanto means "to soar."
The Soros name-change was an effort to protect the Jewish family from the rise of fascist rulers and the whole family spoke Esperanto at home.
As a native Esperanto speaker, (someone who has spoken Esperanto from birth), George Soros defected to the West in 1946, while attending an Esperanto youth meeting in Switzerland.
Esperanto enabled Soros both to defect, and to become the 28th most wealthy man in the World, according to the Forbes rich list.