George Soros predicts recession in USA for 2007 - GoFuckYourself.com

David - PG · 01-09-2006, 10:07 AM

http://news.xinhuanet.com/english/20...nt_4030790.htm

Not a fantastic outlook there. This guy unfortunately knows what he's talking about.

tony286 · 01-09-2006, 10:17 AM

I wouldnt be surpised. REad this :
January 7, 2006
Editorial
An Anemic Jobs Recovery

Responding to yesterday's government report showing paltry job creation in December, Treasury Secretary John Snow urged Americans not to overreact to one month's snapshot, but to focus on the bigger picture. But that picture is not so pretty.

In 2005, the economy added about 2 million jobs. At this point in the last recovery, the yearly job-gain total was 3.5 million.

The longer view is even uglier. Job growth in the current period is the worst by far of the four comparable economic upturns since the 1960's: 2.7 percent versus the 7.8 percent tallied in the weakest of those earlier recoveries.

It's little wonder, then, that President Bush cherry-picked his way through the latest economic figures in his speech yesterday before the Economic Club of Chicago, rattling off numbers without context. The president's prescription - more tax cuts - has failed in the past to create a robust job market and is still not the right answer.

For the past two years, average hourly wages and weekly salaries have been flat or falling. Americans' borrowing binge has masked the decline in earning power, but good jobs and rising wages are essential for widespread prosperity. Without them, economic growth has become increasingly concentrated among corporations, shareholders and the top 20 percent or so of earners. The holiday shopping season illustrates this situation: retailers that cater to lower- and middle-income shoppers, like Wal-Mart, Sears and Kohl's had disappointing results, while higher-end chains, like Neiman Marcus and Nordstrom, thrived.

David - PG · 01-09-2006, 10:19 AM

As much as I am shaking my head about US real estate prices ballooing up over the years.. Soros has a point that once they go down (sharply) we ALL might be in trouble, real estate owners or not.

Dollarmansteve · 01-09-2006, 10:24 AM

His opinion is definitely biased by his investment positions

stickyfingerz · 01-09-2006, 10:24 AM

Soros *snickers*

Quagmire · 01-09-2006, 11:05 AM

Just invade another country. That will solve the problem. :D

David - PG · 01-09-2006, 11:13 AM

Quote:

Originally Posted by stickyfingerzdotnet

Soros *snickers*

The only guy snickering is the man himself. Netted $650m in '03.

FunForOne · 01-09-2006, 11:14 AM

Taking political advice from Soros is the same thing as asking Miller Light what the best tasting beer is. Miller Light just has more obvious commercials about their agenda.

Phoenix · 01-09-2006, 12:32 PM

Quote:

Originally Posted by FunForOne

Taking political advice from Soros is the same thing as asking Miller Light what the best tasting beer is. Miller Light just has more obvious commercials about their agenda.

true...read a book on him though...he is definitely the man

01-09-2006, 10:07 AM	#1
David - PG Confirmed User Join Date: Mar 2004 Posts: 767	George Soros predicts recession in USA for 2007 http://news.xinhuanet.com/english/20...nt_4030790.htm Not a fantastic outlook there. This guy unfortunately knows what he's talking about. __________________ perfectgonzo.com

01-09-2006, 10:19 AM	#3
David - PG Confirmed User Join Date: Mar 2004 Posts: 767	As much as I am shaking my head about US real estate prices ballooing up over the years.. Soros has a point that once they go down (sharply) we ALL might be in trouble, real estate owners or not. __________________ perfectgonzo.com

01-09-2006, 10:24 AM	#4
Dollarmansteve Confirmed User Join Date: May 2005 Location: T.O. Posts: 2,849	His opinion is definitely biased by his investment positions __________________ I died.

01-09-2006, 11:05 AM	#6
Quagmire Confirmed User Join Date: Jul 2005 Location: Stinkin' up your bathroom Posts: 6,490	Just invade another country. That will solve the problem. :D __________________

01-09-2006, 10:17 AM	#2
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	I wouldnt be surpised. REad this : January 7, 2006 Editorial An Anemic Jobs Recovery Responding to yesterday's government report showing paltry job creation in December, Treasury Secretary John Snow urged Americans not to overreact to one month's snapshot, but to focus on the bigger picture. But that picture is not so pretty. In 2005, the economy added about 2 million jobs. At this point in the last recovery, the yearly job-gain total was 3.5 million. The longer view is even uglier. Job growth in the current period is the worst by far of the four comparable economic upturns since the 1960's: 2.7 percent versus the 7.8 percent tallied in the weakest of those earlier recoveries. It's little wonder, then, that President Bush cherry-picked his way through the latest economic figures in his speech yesterday before the Economic Club of Chicago, rattling off numbers without context. The president's prescription - more tax cuts - has failed in the past to create a robust job market and is still not the right answer. For the past two years, average hourly wages and weekly salaries have been flat or falling. Americans' borrowing binge has masked the decline in earning power, but good jobs and rising wages are essential for widespread prosperity. Without them, economic growth has become increasingly concentrated among corporations, shareholders and the top 20 percent or so of earners. The holiday shopping season illustrates this situation: retailers that cater to lower- and middle-income shoppers, like Wal-Mart, Sears and Kohl's had disappointing results, while higher-end chains, like Neiman Marcus and Nordstrom, thrived.

01-09-2006, 10:24 AM	#5
stickyfingerz Doin fine Industry Role: Join Date: Oct 2005 Posts: 24,984	Soros snickers

01-09-2006, 11:14 AM	#8
FunForOne Confirmed User Join Date: Nov 2003 Location: USA Posts: 8,704	Taking political advice from Soros is the same thing as asking Miller Light what the best tasting beer is. Miller Light just has more obvious commercials about their agenda.