George Soros is Making Money on US misery - Expects Prolonged Slowdown

[terisan]

SAYS US BANKS BASICALLY INSOLVENT-ZOMBIE BANKS


The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.

Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into "zombies" that draw the lifeblood of the economy, prolonging the economic slowdown

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

Soros' view contrasts with the majority of economists, who expect the U.S. economy to stop contracting in the third quarter


<http://www.cnbc.com/id/30069223>

[PDJane]

1. The missing portion is environmental degredation,

and we simply have to learn to live more carefully.

[SoCalDem]

2. Once you reach a plateau of richness, you make money no matter what happens

they have figured out how to beat against..and come out winners.:(

[spag68]

3. Soros

Your title is wrong. The article said nothing about Soros making money, and if it had are insinuating that would be a bad thing? Soros funds many small d and many big d causes or are you just parroting the Fox line. He did not steal any money like the bankers or AIG. He is an investor that is telling the truth as he sees it. If a few more wealthy people supported progressive causes we would all be better off.

[terisan]

5. Ny title is not "Wrong." it contains my my statement that he is making money off USmisery

I am not required to simply parrot the contents of an article to which I refer in my post. I, as an American citizen, am also free to state my opinion.

Yes Soros does contribute to many Democratic causes. He has also invested heavily in Halliburton.

He is an investor but I have no way of knowing whether or not he is a thief or an opportunist. All I can say for sure is that he, like AIG execs and bailed out bankers have not yet been convicted of any crime.

I also have no way of knowing whether his contributions amount to buy offs--much as many political contributions to politicians may be buy offs.

My title statement stands as it is--you are possible reading more into it than is there. However you do raise in my mind the possibility that large donations to political organizations can influence the direction of those organizations and cause them to support policies financially or emotionally beneficial to the contributor.

As for Fox, MSNBC, CNN---I simply don't keep a television and don't watch-I do read and write, so it is entirely possible that Fox News may be "parroting"me.

[Last Stand]

7. yup, and he hated Bush. nt

[Canuckistanian]

4. ""I'm having a very good crisis"

http://www.dailymail.co.uk/news/worldnews/article-1164771/Im-having-good-crisis-says-hedge-fund-manager-1billion-world-plunged-recession.html

Sorry about the Daily Mail link

[ThomWV]

6. Do not mistake making money in miserable circumstances with causing them

And George Soros has done a great deal with his money to see that there is less misery in this world.

[supernova]

8. This isn't really news

Soros has always made his gazillions betting against the markets. And he's always been honest about it. This is just him keepin' on keepin' on.