jdhoch
8th April 2012, 01:36
...
I am not here to cheer you up. The situation is about as serious and difficult as Ive experienced in my career, Soros tells Newsweek. We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.
...
People have reason to be frustrated and angry at the cost of rescuing the banking system, a cost largely borne by taxpayers rather than shareholders or bondholders.
Occupy Wall Street is an inchoate, leaderless manifestation of protest, but it will grow. It has put on the agenda issues that the institutional left has failed to put on the agenda for a quarter of a century.
...
As anger rises, riots on the streets of American cities are inevitable. Yes, yes, yes, he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.
MORE...
http://www.systemiccapital.com/george-soros-on-the-coming-u-s-class-war/
I am not here to cheer you up. The situation is about as serious and difficult as Ive experienced in my career, Soros tells Newsweek. We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.
...
People have reason to be frustrated and angry at the cost of rescuing the banking system, a cost largely borne by taxpayers rather than shareholders or bondholders.
Occupy Wall Street is an inchoate, leaderless manifestation of protest, but it will grow. It has put on the agenda issues that the institutional left has failed to put on the agenda for a quarter of a century.
...
As anger rises, riots on the streets of American cities are inevitable. Yes, yes, yes, he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.
MORE...
http://www.systemiccapital.com/george-soros-on-the-coming-u-s-class-war/