Mrcauser’s Weblog

Just another weblog

I firmly believe this guy is spot on….

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Hate to agree with Oba mama’s money bags but I do. And he’s closer to the gang than I ‘ll ever be.  5 to 10 years is my prediction…….

George Soros Says Crash Imminent, But It Might Take 8 Years

Billionaire financier George Soros warns that we are creating another environment which will inevitably lead to a crash, but this time, it won’t be just stock markets and it will be an even bigger boom and bust than the recent credit crisis.

Via Reuters:

“Unless we learn the lessons, that markets are inherently unstable and that stability needs to the objective of public policy, we are facing a yet larger bubble.

“We have added to the leverage by replacing private credit with sovereign credit and increasing national debt by a significant amount.”

Though many contrarian analysts and investors have suggested that a massive economic catastrophe will occur sometime in the next 0 to 3 years, Soros is a bit more optimistic on time frame, according to Reuter’s Funds Hub:

One crumb of comfort could be the 10-year period between the 1998 Asian crisis and the 2008 credit crisis. If the pattern is repeated, it should at least mean we have another 8 years to go before the next crash…

Written by mrcauser

April 16, 2010 at 5:52 pm

Posted in Uncategorized

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