Bloomberg ran with a story sharing information provided by George Soros comparing the stock market collapse of 2008 with today’s economy. George is a financial mastermind who has seen the best and worst of the global economy, and he still observes the financial world from a distance. This article explains how George draws a parallel between today and the crisis that erupted in 2008.
#1: George Remembers The 2008 Crisis Well
George knew that a financial crisis was coming in 2008, and he sees the same signs today. He takes a look at the world at-large when assessing the economy, and he sees issues around the world. World powers are struggling to keep up with growth projections that were thrown in their laps years ago, and China and the United States are not helping. George could name many more pointers, but he thinks the major talking points are obvious to most readers.
#2: George Is Very Concerned About China
The Chinese are in a very bad position. Their economy is expected to grow at incredible rates every year, and they will not be able to keep pace in 2016. Their economy will grow in 2016, but it will not do what everyone expected it to do. People had planned on betting on the United Stated economy in 2008, and the crash of the loan market caused everyone’s portfolio to go up in smoke. George sees the same situation today, and he hopes everyone is paying attention.
#3: George Rarely Speak Up
George is a billionaire, but he works with nonprofits most of the time. He manages the Open Society Foundation for the promotion of democracy, and he works with other nonprofits who need his money. George only speaks up when the situation is dire, and he believes the situation with the world economy today is fairly dire. His own nonprofits will have more work to do in the future if the economy does not turn around, and he hopes that the world’s major powers can turns things around before it is too late.
#4: Can The Chinese Make A Change?
The major concern on the table is a growth plan for the Chinese. Their government is working on a way to improve the value of the yuan, to increase growth and to change the way they promote more business in their own country. The communist party has made many pledges, but none of those pledges have come to fruition early in 2016.
George Soros is someone to listen to when she talks about the global economy. He can see the problems that are on the horizon, and he fears a repeat of 2008. Anyone who considers themselves wise must stay in step with George for their own financial safety.