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Soros: we are on road to recovery at last
11.05.09
Investment guru George Soros said today that the worst of the global recession is over.
“The economic freefall has been stopped, the collapse of the financial system averted,” he insisted. Billionaire Mr Soros, 79, added: “National economic stimulus programmes are starting to take effect.” George Buckley, chief UK economist at Deutsche Bank, believes the economy could start to grow again next month.
The Organisation for Economic Co-operation and Development said there were “tentative signs” that the downturn could be coming to an end. The FTSE 100 index edged down 44.12 points to 4417.97 but is still well above its low of 3512 in March.
Reader views (2)
All due respect to Mr. Soros, but he is always seeking to manipulate the market.
He has been hurt by the crash & needs govts to boost the market-he will then draw out of his bad positions & run for the hills.
This is a dead cat bounce as far as the UK is concerned.
There is a chance that the consolidation of the British banks will reap the corrupt rewards of monopoly, and that overseas investors will continue to invest in the UK & continue to use our banks out of habit.
Apart from the above instance, the financial sector may never recover as foreigners see that there is no real better value for their investments in the UK.
The idea that future governments will stimulate housing booms is still rife. God help us if they do.
In my view house prices in the UK will be £65,000 at the bottom of the crash without government intervention. After all, they are a stack of bricks on a piece of land with planning permission FROM THE GOVERNMENT.
If the government continues to use the planning system to effectively throttle new house building and force up house prices, I forsee massive social unrest and Victorian-like overcrowding conditions as general inflation takes a hold on the economy.
Only investment in new technologies will save the economy.
Previously industry was competing for resources with wealthy businesses made wealthy by the housing boom.
Now those businesses are gone we have a chance to produce real wealth.
- Rich Kightley, Southampton, England
Soros must have some large positions he has to cover because he,like Buffet have been caught by this one.What arrant nonsense:a neophyte like me can see that the debt is way to huge to talk about meaningful growth.There are trilions of any currency you like debt out there,who is going to pay for it?Either the lender or the borrower.I sometimes feel as if I awoke on an alternative Earth,in October 2007 and that only Satan and Loki need turn up to make the situation clearer.Listen to nobody with anything to lose in this coming Great Descent;they will lie to survive.
- Herschell Bennett, London, UK
