Sunday, 3 February 2008

Soros: The worst market crisis in 60 years

Not just an usual boom and bust cycle. Dollar fall off the race.

George Soros isn't writing a blog but he writes a column for the London's Financial Times. His last column is diagnosis for the financial crisis just upon the World.
More or less, it's all what more couragous analysts and finance expert do talk for years. Now, the mess is huge. I would need to buy the book ''The Long emergency'' by James Howard Kunstler ( who talks more about oil crisis, not financial crisis ) and perhaps his new book '' World made by hand''. Still, there's is conclusion in the Soros article with a bit of relief when he says:

Although a recession in the developed world is now more or less inevitable, China, India and some of the oil-producing countries are in a very strong countertrend. So, the current financial crisis is less likely to cause a global recession than a radical realignment of the global economy, with a relative decline of the US and the rise of China and other countries in the developing world.

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