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George Soros Interview

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I found this interview with George Soros from June 2006 on YouTube (interviewed by CNBC News anchor Maria Bartiromo), it's a little shaky as the clip is from a camcorder of a TV screen, but it's worth a look:

A synopsis of the interview at www.andongkim.com :

Soros interview synopsis

As for commodities, "it's been a parabolic rise", he said, and "we know it cannot last". It's been "overdone on the speculative side... commodities have become an asset class and now it's vulnerable".

He said that he doesn't know how far it might go, but to be sure, the "last bit" will be the "best bit". He said he sees a "period of correction" for commodities.

But the mother of all asset classes that is most vulnerable, Soros believes, is the residential real estate market. He thinks that residential real estate in the US is slowing and will continue to slow, and this will be a "worldwide phenomenon".

On the US dollar, Soros said that he believes that as soon as rates peak in the US, the greenback will come under pressure. But a decline in the dollar is a good thing, he believes, in the light of the huge imbalances that need to be corrected. However, he cautioned that exchange rates movements will have to be "quite extreme" to correct themselves.

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This is worth a read...

http://business.timesonline.co.uk/article/...1977308,00.html

The trouble is that about $1 trillion dollars worth of ARM mortgages are going to get reset this year, and about $1.7 trillion ARM mortgages next year.

Mortgage repayments are going to shoot up 50% for many, and we're going to see thousands of US families losing their homes.

It isn't going to be nice.

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The inevitable result:

Recession

http://www.msnbc.msn.com/id/13701733/

Borrowing boom could escalate financial crises

Financial Times

By Ralph Atkins in Frankfurt and Christopher Condon in Budapest
Updated: 1:40 p.m. ET July 4, 2006
Extensive borrowing in foreign currencies by consumers and businesses in aspirant European Union member countries could escalate dramatically local financial crises, a central bankers' task force has warned.
Encouraged by low interest rates, for instance on loans in euros, individuals and companies in countries such as Romania and Bulgaria have increased foreign currency borrowings significantly in recent years.
Story continues below ↓ advertisement
But a sharp depreciation in local currencies could force a wave of bankruptcies, according to a report published on Tuesday by the European Central Bank
"A vicious circle of this kind was a key factor behind the severity of the Asian financial crisis of 1997-98," the report warned.
Edited by Realistbear

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I found this interview with George Soros from June 2006 on YouTube (interviewed by CNBC News anchor Maria Bartiromo), it's a little shaky as the clip is from a camcorder of a TV screen, but it's worth a look:

A synopsis of the interview at www.andongkim.com :

Soros interview synopsis

As for commodities, "it's been a parabolic rise", he said, and "we know it cannot last". It's been "overdone on the speculative side... commodities have become an asset class and now it's vulnerable".

He said that he doesn't know how far it might go, but to be sure, the "last bit" will be the "best bit". He said he sees a "period of correction" for commodities.

But the mother of all asset classes that is most vulnerable, Soros believes, is the residential real estate market. He thinks that residential real estate in the US is slowing and will continue to slow, and this will be a "worldwide phenomenon".

On the US dollar, Soros said that he believes that as soon as rates peak in the US, the greenback will come under pressure. But a decline in the dollar is a good thing, he believes, in the light of the huge imbalances that need to be corrected. However, he cautioned that exchange rates movements will have to be "quite extreme" to correct themselves.

Great post, thanks.

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But the mother of all asset classes that is most vulnerable, Soros believes, is the residential real estate market. He thinks that residential real estate in the US is slowing and will continue to slow, and this will be a "worldwide phenomenon".[/b]

I've heard this perspective before elsewhere - the HPC will be sudden and global

Analysing GB tinkering with fiddled inflation figures and 0.25% IR movements is a pointless excersize - you need to look at the global picture...

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never heard of him

joke! ;)

I didn't know what he looked like until i saw a picture on the BBC.

Then I realised someone on here had George Soros picture as their avatar, and not Jonathan King.

btp

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I've heard this perspective before elsewhere - the HPC will be sudden and global

Analysing GB tinkering with fiddled inflation figures and 0.25% IR movements is a pointless excersize - you need to look at the global picture...

They all went up pretty much together so it's logical that when a few crash the others come down with them.

It's a bit like turning off the power to your home - EVERYTHING stops working because it's all ultimately supplied via the same cable from the street. Same with house prices - the global supply of cheap money from the likes of Japan being the "mains cable" that keeps the whole lot running. That cable is in the process of being cut right now...

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The inevitable result:

Recession

http://www.msnbc.msn.com/id/13701733/

Borrowing boom could escalate financial crises

Financial Times

By Ralph Atkins in Frankfurt and Christopher Condon in Budapest
Updated: 1:40 p.m. ET July 4, 2006
Extensive borrowing in foreign currencies by consumers and businesses in aspirant European Union member countries could escalate dramatically local financial crises, a central bankers' task force has warned.
Encouraged by low interest rates, for instance on loans in euros, individuals and companies in countries such as Romania and Bulgaria have increased foreign currency borrowings significantly in recent years.
Story continues below ↓ advertisement
But a sharp depreciation in local currencies could force a wave of bankruptcies, according to a report published on Tuesday by the European Central Bank
"A vicious circle of this kind was a key factor behind the severity of the Asian financial crisis of 1997-98," the report warned.

Well well!!! Surprise surprise. The World's Biggest Ever Pyramid Selling Scam is definitely stalling - yes, later than anyone thought -- but stalling it is..... And it's going to be tears for an awful lot of people. Personally, I think those responsible for engineering this Pyramid Selling Scam - the VI's - Mortage Co:'s, Banks, EAs, and their Media Friends and Lobby Friends [including MP's who have been cashing in] should all go to prison, key thrown away.

Isn't is amazing how - today in the news there's so much about energy prices and bills going up for consumers 30-40%..... and NOTHING about house prices - rigged by the VI's and going up 300%!!! in a few years!!?? Never gets a mention except as being a "good thing"!! Just amazing -- and the difference in monies involved - TENS or even HUNDREDS of THOUSANDS in case of house prices - i.e. more money to the LENDERS - and just a few hundred pounds on energy bills...... All the stuff you see about price rises in pills, petrol, a few groceries, etc. etc. - AND YET - House Prices?? It's "O.k," for them to just go up 3 x 100 % i.e. THREE TIMES+? Isn't it bizzare? Just says really that UK is nation of what used to be called Spivs - just turn on the tv and watch all those programmes [put on by vested and commercial interests for free at licence payers cost!!] about everyone rushing to buy property to make money from those desperate to put a roof over their heads - and seemingly NO ONE questions this!?? Incredible.

I stick to my guns: - http://www.housepricecrash.co.uk/forum/ind...mp;#entry399965

Edited by eric pebble

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I thought George Soros also lost a fortune in the dotcom bubble.

I think Soros is down to his last $10 bn, so he knows a thing or two about economics. (Remember, he built himself up from nothing).

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I thought George Soros also lost a fortune in the dotcom bubble.

Most on here laugh at all the sheeple who lost out in this way!

Yes -- the house/property pyramid selling scam is a much, much bigger and lumpy, stodgy, slow moving version of the dotcom bubble... much bigger and therefore longer cycles. And talking of the dotcom bubble -- do you remember how in the heat of that pyramid selling scam, there were all those people saying it was "different" that time, bla bla bla..... I just NEVER forget me and friend over the millenium period were absolutely INCREDULOUS at the amazing stupidity of it all..... and loads of people were telling us it was all ok, that we were wrong etc etc. At the time we were just laughed at -- and when it all came down with a huge bump - just can't tell you how we had the last laugh!!!

Edited by eric pebble

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On the US dollar, Soros said that he believes that as soon as rates peak in the US, the greenback will come under pressure. But a decline in the dollar is a good thing, he believes, in the light of the huge imbalances that need to be corrected. However, he cautioned that exchange rates movements will have to be "quite extreme" to correct themselves.[/i]

Errr, so George Soros believes the dollar can decline (presumably without the armageddon scenario of T Bills not being bought).

If the dollar declines all bets are off for UK rate rises.

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RUDDY CHEEKY OF ME TO SAY SO, afterall what does an insignificant like me know, but........................

Is Soros too 'old school'?

Perhaps he is another that hasnt realised the extent to which people misturst traditional pensions and investments and wont be returning.

Also this 'worldwide crash' is far from reality. Many parts of the globe are only at the first stage of HPI including many nations in Europe.

It seems to me that many of these vocal gurus just are'nt property men. Jim Mellon our very own guruhas just pioled into Berlin realestate,

And talking of the dotcom bubble -- do you remember how in the heat of that pyramid selling scam, there were all those people saying it was "different" that time, bla bla bla..... I just NEVER forget me and friend over the millenium period were absolutely INCREDULOUS at the amazing stupidity of it all..... and loads of people were telling us it was all ok, that we were wrong etc etc. At the time we were just laughed at -- and when it all came down with a huge bump - just can't tell you how we had the last laugh!!!

Yes many lifelong pessimists like you Eric always portend the gloom. This means you avoid the downs BUT THE RUB IS THAT YOU ALSO ALWAYS MISS OUT ON THE UPSIDE.

Deep deep down a part of you is jealous of people you probably know that have made easy money out of HPI. This irritates as you see yourself as more 'on the ball' than they are, yet they are the ones that took the plunge. Im right arent I ;)

Eric, what do you invest in to improve your lot? You often report you have 'travelled the nation during your work' so I assume you still work. I also have an inkling you are not young. Shouldnt you be taking the odd risk in order that you might one day retire (not too late)? Or is it strictly cash into the Saffron Walden Building Society for you?

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Soros may have a degree of self-interest in promoting a crash........ a bit like he did with sterling and a bit like he has done consistently over the years.... - don't always believe what you read seems to be about right, read what's not there more closely than what is.

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RUDDY CHEEKY OF ME TO SAY SO, afterall what does an insignificant like me know,

Well.. at least you realise it!

Jim Mellon our very own guruhas just pioled into Berlin realestate,

Yes many lifelong pessimists like you Eric always portend the gloom. This means you avoid the downs BUT THE RUB IS THAT YOU ALSO ALWAYS MISS OUT ON THE UPSIDE.

..."yet they are the ones that took the plunge. Im right arent I ;) ........."

Who, if anyone, taught you to read, write, spell or make any sense?

I am retired and very comfortable thanks, Dogbreath. I do a bit of work on the side doing sales for a publisher just for fun. However, I believe the young and not so young today have a very bad deal thanks to spivs like you. Could you not do us all a favour and emigrate?

Edited by eric pebble

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Well.. at least you realise it!

Who, if anyone, taught you to read, write, spell or make any sense?

I am retired and very comfortable thanks, Dogbreath. I do a bit of work on the side doing sales for a publisher just for fun. However, I believe the young and not so young today have a very bad deal thanks to spivs like you. Could you not do us all a favour and emigrate?

A few porkies there Eric!

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Yes many lifelong pessimists like you Eric always portend the gloom. This means you avoid the downs BUT THE RUB IS THAT YOU ALSO ALWAYS MISS OUT ON THE UPSIDE.

Deep deep down a part of you is jealous of people you probably know that have made easy money out of HPI. This irritates as you see yourself as more 'on the ball' than they are, yet they are the ones that took the plunge. Im right arent I

Eric, what do you invest in to improve your lot? You often report you have 'travelled the nation during your work' so I assume you still work. I also have an inkling you are not young. Shouldnt you be taking the odd risk in order that you might one day retire (not too late)? Or is it strictly cash into the Saffron Walden Building Society for you?

Dear oh dear. I guess it must be a very difficult emotional experience for a property bull when someone like George Soros whips his d*ck out and p*sses all over the bonfire - can’t really slag him off for being a jealous, wannabe loser who wishes he bought a few years ago can you?

It’s the biggest bubble in global financial history but the only ones who can accept this are those who don’t stand to lose when it bursts – non-property owners and billionaire investors like Soros, Templeton etc.

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Guest prudence

never heard of him

joke! ;)

so are you proud or ashamed of your ignorance

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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