I firmly believe this guy is spot on….
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…….
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.
“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…