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Soros: "there Is An Impending Global Correction."

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http://thebusinessonline.com/Stories.aspx?...2E-D07EB5AA1CEE

Soros attacks EU for failure to stand up to America

By Rupert Steiner

16 July 2006

GEORGE Soros, the Hungarian-American financier who has invested his billions in encouraging democracy in eastern block countries is turning his attention to western Europe because he believes the European Union (EU) is failing.
......./
In an interview with The Business he said: “The attitude of the Bush administration has had disastrous consequences; the world needs an alternative and the European Union can provide it.
“In its unfinished state, the European Union suffers from several deficiencies. It is too unwieldy for the size of its membership, it is opaque and bureaucratic, and the democratic influence is too indirect, so that people feel alienated.
......./
In the past, his words moved markets and he still makes economic predictions. He warns:
“There is an impending global correction. It will be prompted by higher interest rates. We are in a bear market.”
He sees no sign of the euro collapsing and accuses investors in Rosneft, the Russian energy group about to debut on the stock market, of folly. “It will be a very risky investment. Investors are buying into a company of which they have no control. Russia wants to use energy as a ruse for reasserting its dominance over Europe. The London Stock Exchange ought to be more discriminating in its listing of foreign companies.”

Soros, Merve "The Swerve" King, Warren "The Sge" Buffett, Alan "Big Al" Greenspan are all saying the same thing about a global correction and those who continue to believe in the bull market had better wake up and smell the coffee.

INteresting what Soros says about Russian investments. Rubles anyone?

With regard to the EU it seems that the common IR policy and the one size fits all is creating some serious imbalances. When the Euro crisis hits where are people going to put their money? <_<

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http://thebusinessonline.com/Stories.aspx?...2E-D07EB5AA1CEE

Soros attacks EU for failure to stand up to America

By Rupert Steiner

16 July 2006

GEORGE Soros, the Hungarian-American financier who has invested his billions in encouraging democracy in eastern block countries is turning his attention to western Europe because he believes the European Union (EU) is failing.
......./
In an interview with The Business he said: “The attitude of the Bush administration has had disastrous consequences; the world needs an alternative and the European Union can provide it.
“In its unfinished state, the European Union suffers from several deficiencies. It is too unwieldy for the size of its membership, it is opaque and bureaucratic, and the democratic influence is too indirect, so that people feel alienated.
......./
In the past, his words moved markets and he still makes economic predictions. He warns:
“There is an impending global correction. It will be prompted by higher interest rates. We are in a bear market.”
He sees no sign of the euro collapsing and accuses investors in Rosneft, the Russian energy group about to debut on the stock market, of folly. “It will be a very risky investment. Investors are buying into a company of which they have no control. Russia wants to use energy as a ruse for reasserting its dominance over Europe. The London Stock Exchange ought to be more discriminating in its listing of foreign companies.”

Soros, Merve "The Swerve" King, Warren "The Sge" Buffett, Alan "Big Al" Greenspan are all saying the same thing about a global correction and those who continue to believe in the bull market had better wake up and smell the coffee.

INteresting what Soros says about Russian investments. Rubles anyone?

With regard to the EU it seems that the common IR policy and the one size fits all is creating some serious imbalances. When the Euro crisis hits where are people going to put their money? <_<

The World is really becoming a messed up place. On the subject of Russia and Energy, I was amazed at the coverage of the G8 summit yesterday, where we have Russia now giving their input into how to deal with the Middle-East. Given Russia's humanatarian record, its amazing what the smell of Oil can do to make Bush and Blair ignore the past and show their true colours.

Who in their right minds would let Russia advise on anything. The world is being controlled by greed and selfish motivations, and that greed will show its wrath.

RB, the only trouble with all these market and currency problems is that it just enforces the 'safe as houses' culture and hence people sink even more money into property and therefore HPI growth just keeps getting added support. A good example of that today is Barclays Capital and their interest in McCarthy & Stone. Seem like they have high hopes for property unfortunately!

AFP

Edited by AwaitingFairPrices

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The World is really becoming a messed up place. On the subject of Russia and Energy, I was amazed at the coverage of the G8 summit yesterday, where we have Russia now giving their input into how to deal with the Middle-East. Given Russia's humanatarian record, its amazing what the smell of Oil can do to make Bush and Blair ignore the past and show their true colours.

Who in their right minds would let Russia advise on anything. The world is being controlled by greed and selfish motivations, and that greed will show its wrath.

RB, the only trouble with all these market and currency problems is that it just enforces the 'safe as houses' culture and hence people sink even more money into property and therefore HPI growth just keeps getting added support. A good example of that today is Barclays Capital and their interest in McCarthy & Stone. Seem like they have high hopes for property unfortunately!

AFP

You could be right. With everything unsafe these days what DO you invest in? The problme is that anyone getting in on houses this late in the cycle, unless they have cash, are going to run into IR problems as the world tightens. The US are finding this out the hard way as all those cheap loans that helped people get on the ladder are re-setting to realistic levels at around 8%. Houses are too high for most as a flight to safety.

I see cash as the best bet. IR sensitive assets are going to be hit hard as Soros and others have pointed out. A recession is never good for anything that is bloated by speculative frenzy and houses are number one on that list.

Even if only 10% of those who bought in go to market to try to sell quick it will devastate the market and bring prices down by a huge amount. I belive there will be far more than 10% who will be distressed sellers.

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You could be right. With everything unsafe these days what DO you invest in? The problme is that anyone getting in on houses this late in the cycle, unless they have cash, are going to run into IR problems as the world tightens. The US are finding this out the hard way as all those cheap loans that helped people get on the ladder are re-setting to realistic levels at around 8%. Houses are too high for most as a flight to safety.

I see cash as the best bet. IR sensitive assets are going to be hit hard as Soros and others have pointed out. A recession is never good for anything that is bloated by speculative frenzy and houses are number one on that list.

Even if only 10% of those who bought in go to market to try to sell quick it will devastate the market and bring prices down by a huge amount. I belive there will be far more than 10% who will be distressed sellers.

I agree, Cash is king at the moment. I have a portfolio in equities, but main objectives are to get totally debt free and keep stashing cash into whichever accounts are offering best interest rates. Have been thinking about an A&L US Dollar savings account aswell but not committed to making that decision yet.

Prudence, whilst its not going to make anyone wealthy in the short-term, will provide the backbone for surviving and then capitalising on what comes when the cycle does turn.

At some point (maybe years) Interest Rates will peak and Gilts can once again become a worthy purchase. Housing price graphs will show when a fair correction has occured and again, the time to invest in a couple of properties will arrive. Added to that a change in government after the Miracle Economy has reset itself will also probably see a stock market reset and the time will again come to put some capital into a few Funds as the global economy starts its march back to health.

Destroy debt and save. Boring but safe unless we see some hyer-inflation.

AFP

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Soros seems to have peaked out years ago.

When a person builds themselves up from nothing like Soros, it's time to take note. IMHO, he's right on the money and the correction will happen due to higher IRs.

As regards the floating of RosnTHEFT (pun intended), this is nothing more than legalised theft; absolutely outrageous. Khordakovsky was subjected to a 'trial' which would have been in keeping with Stalin and shipped off to Siberia for 7 years and has had his legitimate company nicked off him and floated - it's beyond belief!!!!!!

Why did all this happen to him? Was it because he dared participate in Russia's "democracy" and/or because he's Jewish? Whatever, the floating Rosneft is a stain on the City's character.

Who said Communism's dead?????

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True ..... however the handful of Russian Oligarchs who schmoozed some of the USSR's most important compaines right from under the thoses of the Russian people (through dodgy pay-offs and political shenanigans) did actually deserve it !!

"A market economy Russian Style. Russian was communally owned by its 150 million population for seventy years. Today 11 individuals own 70% of Russia and are aided and abetted by 1 million "colleagues." Together they own Russia and the $350 billion on deposit in Western bank accounts which they have embezzled from the Russian people and exported. The remaining 149 million were excluded from the division of the communal property. In fact their savings were extinguished by inflating the ruble from 40 in 1990 to 6000 in 1998 and their income was reduced by 50% in order to finance 1 million visa cards for those who now own Russia. Less then four years ago there were only 25,000 card-holders in Russia. In 1997 annual card-holder expenditure in Russia exceeded $1 billion a 94% increase over 1996. Even large purchases such as major appliances and automobiles are made in cash. Meanwhile life expectancy of the disenfranchised has dropped to 57 years. West refers this a democracy and reform. I call it crimes against humanity and the biggest swindle of all time"

Edited by Perfectionist

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And Soros is Hungarian I believe? No friends of the Soviet Union.

Vladimir Dimitri Putin is just another Czar of all the Russias and he has the means to conquer Europe by controlling the oil and gas. he also has the ability to manipulate the Arabs although he must be careful not to put too many Muslim noses out of joint.

Rubles anyone?

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  • 301 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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