George Soros, who heads Soros Fund Management and has amassed a fortune worth 13 billion dollars, shared his thoughts about the state of the global economy, China, and the U.S. Dollar. Here are some of his comments on the global economy:
"The global economy has been stabilized; the artificial life support has worked. But we are not out of the woods because if we withdraw the stimulus too soon there's a serious threat of a double dip"
Regarding the US banks, Soros said that banks are too still too big to fail and after Lehman`s collapse, the government won't let a big firm go down. So, the United States needs to raise bank capital requirements. And he added, "if investment banks want to trade with their own money, they must have enough cash reserves to back their bets."
Related Stocks: Citigroup (C), Bank Of America (BAC), JP Morgan (JPM)
1 comment:
And if they go on stimulating they're risking hyperinflation. But surely they will go on or the bottom will fall out of the house market: Of Mortgage Brokers, ARMs, Attrition and Marathonsy
Post a Comment