The billionaire investor George Soros has given his gloomiest assessment yet of the state of the US and world economies. In an interview with BBC business editor Robert Peston, Mr Soros said that while the "acute phase" of the credit crunch might be over, the fall-out and the impact on the real economy has yet to be felt. He warned that the "financial bubble" of the last 25 years could well be drawing to an end and the post World War II "super-boom" era could be over permanently. He says the slowdown will be "more severe and certainly longer" than most people are predicting. And he said that the UK was worse-placed than America to weather to coming economic storm, because it had such a large financial sector and has had the biggest increase in house prices.
In an interview with BBC business editor Robert Peston, Mr Soros said that while the "acute phase" of the credit crunch might be over, the fall-out and the impact on the real economy has yet to be felt.
He warned that the "financial bubble" of the last 25 years could well be drawing to an end and the post World War II "super-boom" era could be over permanently.
He says the slowdown will be "more severe and certainly longer" than most people are predicting.
And he said that the UK was worse-placed than America to weather to coming economic storm, because it had such a large financial sector and has had the biggest increase in house prices.
He warned that the "financial bubble" of the last 25 years could well be drawing to an end and the post World War II "super-boom" era could be over permanently. ... And he said that the UK was worse-placed than America to weather to coming economic storm, because it had such a large financial sector and has had the biggest increase in house prices.
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At least the Americans are greedy enough to recognise a bad investment plan, the British are stupid cos they only stop when the americans tell them to and they havne't yet. keep to the Fen Causeway
