Soros Weighs In

Soros Says Credit Crisis Will Worsen Before Improving (Update4)

Soros said the crisis will last longer than authorities predict.

``They claim that there will be a pickup in the second half of the year,'' he said. ``I cannot believe that.''

I'm still waiting for one rational explanation why there will be a pickup in the second half of the year. Will things suddenly become cheaper for the American consumer? If so, what made things suddenly cheaper?

Note that an unexpectedly severe global recession/depression might make things suddenly cheaper, but would hardly be a reason to turn bullish. But hey, maybe that's just me.