ubuntutech
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Joined: 07 May 2008
Posts: 2
Career Advice: +0/-0
Location: New Delhi
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 Posted: Tue Jun 03, 2008 11:29 am Post subject: WARNING - For those who are planning to go abroad - US |
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Every now and then we are getting news from Global Economic experts that US is on the verge of a bid economic doom. I don't think it would be least advisable to go to US at this time for making career or even higher education. We have to wait, for not less than 1-2 years until we get a better picture.
Read this article of George Soros - The World Famous Billionaire Investor
‘We face the most serious recession of our lifetime’
http://thetruthseeker.co.uk/article.asp?ID=8672
This is a period of wealth destruction. The people who make money will be few and far between. There will be a lot more money lost than made." When George Soros - the phenomenally successful hedge fund manager - says this, you know something is wrong, very wrong. And indeed it is. The 77-year-old billionaire sinks back into the sofa in his Chelsea townhouse and exhales.
He has managed to make money almost consistently for over half a century - from his early days as one of the world's first major hedge fund traders to his involvement in Black Wednesday as the man who "broke the Bank of England", and in the latter years generating multi-billion-dollar annual profits throughout the 1990s. The conditions today are almost uniquely dismal, however.
"I think this is probably more serious than anything in our lifetime," he says. In short, his feeling is that the United States and Britain are facing a recession of a scale greater than the early-1990s, greater even than the 1970s.
"I think the dislocations will be greater because you also have the implications of the house price decline, which you didn't have in the 1970s - so you had stagflation and transfer of purchasing power to the oil producing countries, but here you also have the housing crisis in addition to that."
Such apocalypticisms would be less worrying were it not that Soros was among the few prominent experts who warned of the dire consequences facing the American economy years ago, when the housing bubble was still inflating.
http://thetruthseeker.co.uk/article.asp?ID=8672  |
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