Thursday, April 10, 2008

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.
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3 comments:

  1. AnonymousApril 10, 2008 at 8:23 PM

    Soros is spot on StagMark - hey take a gander at some new charts I threw up on the site - its your damn fault man! :-)

    ReplyDelete
  2. Stagflationary MarkApril 10, 2008 at 9:45 PM

    energyecon,

    Here's a quote before the problems really started hitting the fan.

    I expect by '07 there will be a significant decline in U.S. consumer spending, and I don't see what will take its place, because it's so important as the motor of the world economy. - George Soros

    ReplyDelete
  3. Stagflationary MarkApril 10, 2008 at 9:47 PM

    energyecon,

    As for the charts...

    You can observe a lot just by watching. - Yogi Berra

    Go figure! ;)

    ReplyDelete