Discussion in 'Politics' started by niceneasy, Jan 27, 2006.
anyone see soros on cnbc today? that was awesome....
I didn't hear Soros but came across this below. BTW - I heard a MSFT director of europe being interviewed from Davos on CNBC very early Friday and it didn't feel Sarbannes - Oxley washed and laundered liked US viewers get. Don't know if they showed it again but it really sounded like it would move the stock.
Soros warns of slowdown in 2007
By Yoolim Lee and Haslinda Amin
Billionaire investor George Soros said yesterday the US economy could fall into recession next year because of a cooling housing market.
There was also a âreasonably significant chance of a global slowdown in 2007,â Soros said.
âRight now,â he said, âthe markets are as good as you could ask for.â
The potential for an end to a five-year boom in US house prices has raised fear the worldâs biggest economy may slow or even fall into recession, triggering a slump in other economies.
The number of mortgage applications filed in the last week of last year fell to the lowest since 2002, according to the Mortgage Bankers Association.
âEconomic growth will be tempered by a softer housing market,â David Heike, Lehmanâs chief US credit strategist, said last week. A slowing housing market may trim the economyâs growth rate between 0,5%-1%, Lehman estimated.
The US Federal Reserve would probably try to manage a soft landing for the economy, though if the housing market continued to cool, âthe soft landing will turn into a hard landingâ, Soros said.
âThatâs why I expect the recession to occur 2007, not 2006.â
The US economyâs growth was forecast to slow to 3,5% this year from 3,6% last year and 4,2% in 2004, the Paris-based Organization for Economic Co-operation and Development said in a report late last year.
Whether the US avoided a recession would depend on when the Fed, which last month raised the countryâs main interest rate for the 13th time in a row, ended its rate increases, Soros said.
There were risks that the Fed may raise rates more than needed to slow growth and curb inflation.
âAlmost inevitably, they have got to overshoot because they canât stop (raising interest rates) until the economy shows signs of a slowdown,â Soros said at a Singapore Institute of International Affairs event.
âBy the time it shows those signs it may be a little too late. I happen to be on the pessimistic side,â he said.
The Fedâs economists, in their staff forecast for the December 13 meeting of the Fedâs open market committee, âsuggested that growth of economic activity would slowâ from last yearâs pace, âbut remain solid, with output staying near the economyâs potential over the next two yearsâ, according to minutes of the meeting released last week.
Still, since the Fedâs last meeting, US government data showed the economy grew 3,6% in the three months ended September from a year earlier, matching the pace of the previous two quarters.
The growth pace reported in the last three quarters was the slowest since the third quarter of 2003, when the economy expanded 3,2%.
Last year, inflation in many economies accelerated while growth slowed, as energy prices surged to record levels.
In the US, the boom in housing prices helped mitigate the effect, Soros said.
It almost âexactly outweighed the negative effect of the higher price of oilâ.
âGoing forward, the tight market will continue unless the economies slow down, and a fall in oil prices will actually be one of the factors that will help bring about a soft landing.â
Soros, who said he was âno longer actively involved in the marketsâ, declined to comment on specific markets or currencies.
Soros was in Singapore following a visit to Indonesia, which suffered more from the effect of the 1997-98 Asian financial crisis than other Asian nations.
Soros has been supporting a foundation aimed at improving democratic development in Indonesia.
âAsia is the most dynamic part of the global economy,â he said. âSince the US is losing its legitimacy as the leader of the world, there will be increasing discussions for Asian co-operation.â
Soros left Hungary for England in 1947 and moved to the US in 1956 to establish his investment fund. He was chairman and president of Soros Fund Management.
After the communist regime collapsed in Hungary in 1989, Soros founded the Central European University in Budapest, a post-graduate institution for courses in democracy, human rights and social sciences.
There won't be a recession until at least 2010. All these jokers are just wishing SOOOOO HARD for a Bush recession that they can't think.
Right, a recession in 2010. What day and month will that be? I am going to give you some slack and not ask for the time of the day it starts, since i am a daytrader i will just watch the screen. Please clue me in on what day so i will not be on vacation.
Sounds like you are a follower in the bush ideas of how the world should be run. That would be fine if the bushies showed some brains in the agenda besides the terror card and trying to get elections either stolen or won by running the future of everyones children into the toilet from the spending and debt.
Please tell me one program besides the greedy right wing wanting tax cuts and regulations trashed that will be good for this countries future. Be truthful now, mumbo jumbo BS is not acceptable for answers.
Thank You, from the left.......
2010 Mar 6
bighog.........what do you think of your party being the promoter of men on men and crushing babies heads before pulling them from womb to keep it legal? ......Pelosi........Reid..........fruitcakes both...... ...dems are standing on verge of disappearance into annals of history only.. .........u sound as shaky as michael moore............and he is just a little bit squirrelly...........Hillary is your answer ..........right?.........John McCain is next in line............maybe baldwin will really leave the country this time...........and take his kind with him.......SADDAM TAPES........
crackers crackers crackers
most ppl are worse off today than the day pussy took office in1/20/01.
> 40+ millions w/o health ins.
recordbreaking personal bankrupties
shrkinking of the middle class.
more n more working poor
the only ppl who have done well is wall st profls.
Still didn't answer this question:
Anyone else care to give it a shot?
Listen up, I've been through a lot of business cycles, seen all the talk before, seen the intellectual/left's BS for decades, it will not be before 2010. You seem kind of like a ..stupid namecaller skeptic, jumping to all kinds of conclusions about me, you know nothing about me and less about economics. Go back to the blogsphere and get the latest talking points, it's probably about how Chaney can't shoot..... or something equally pertinent to our realities.
If you think I am wrong after 2010 bring up the thread again.
Separate names with a comma.