U.S. economy has bottomed: George Soros

U.S. economy has bottomed: George Soros

www.reuters.com

NEW YORK (Reuters) - The U.S. economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday.

"I think it (the stimulus) has made a difference, the economy has actually bottomed and I think we are facing a positive quarter, and I think that is largely due to the stimulus," he said in an interview with Reuters Television in New York.

The Obama administration is pumping $787 billion into the economy in a bid to turn around the deepest recession since the 1930s. The U.S. economy shrank

(visit the link for the full news article)

Someone has finally said it loud and clear. Even at its weakest the United States economy is the biggest and strongest and most flexible economy on the planet and in the history of the world.

Just 10 months ago, many people actually thought that the minor event of the global financial collapse meant that the American economy would come to a standstill. Now everyone can see that it just not plausible to expect such a thing.

But I suppose there will be some who want to hold out hope.

www.reuters.com
(visit the link for the full news article)

I find that statement funny.

The spending seems to all be going into car companies, military, police, camps, H1N1, finance places, short term 1-2 week jobs, bailouts and things like that.

Where's the help for the average citizen trying to scrape by?

reply to post by IDK88




Moral of the story is that any country in the world can print unlimited money to artificially increase their revenue/GDP.

Tell this to Venezuela, Russia and Indonesia. Easy. Just print more money Fraud at the highest level!

Originally posted by warrenb


Where's the help for the average citizen trying to scrape by?

What are you talking about? lol

The average citizen is helping the gov't scrape by. Why would they help us? They need us to help them.

Thats what this is all about after all isn't it?

Well 300 000 000 Americans and several trillion later...why didn't they just give each American a million dollars instead?
Everybody would have spent it and put it back into the economy.It would have only cost 300 000 000$ instead of several trillion.

No help for the average citizen...only big banks and companies.
America...you are being screwed and everything is not well.

Originally posted by IDK88

U.S. economy has bottomed: George Soros

www.reuters.com

NEW YORK (Reuters) - The U.S. economy has hit bottom and the current quarter will see positive growth due to the government's stimulus spending, billionaire financier George Soros said on Tuesday.

"I think it (the stimulus) has made a difference, the economy has actually bottomed and I think we are facing a positive quarter, and I think that is largely due to the stimulus," he said in an interview with Reuters Television in New York.

The Obama administration is pumping $787 billion into the economy in a bid to turn around the deepest recession since the 1930s. The U.S. economy shrank

(visit the link for the full news article)

Unfortunately theres a diference between " I thnk" and " I know". Sounds like he's hoping no one will notice all the money going missing in the 'upbeat' I think ( I'm hoping) speech..

Originally posted by IDK88


Someone has finally said it loud and clear. Even at its weakest the United States economy is the biggest and strongest and most flexible economy on the planet and in the history of the world.

Just 10 months ago, many people actually thought that the minor event of the global financial collapse meant that the American economy would come to a standstill. Now everyone can see that it just not plausible to expect such a thing.

But I suppose there will be some who want to hold out hope.

www.reuters.com
(visit the link for the full news article)

Amen! And this is what I LOVE about this GREAT COUNTRY of ours.

This is now the second major figure.

As Clark Howard said yesterday... NOW is the time to ride the wave back up.

Hmm.

Soros is No.29 on the List of Billionaires

I wonder if this is a signal that the aim of the "market correction" that has been undertaken recently (also known as the current economic collapse) has now been reached, and now the "con-fidence" game has to be played once more?

Does anyone expect that we *won't* see these types of people telling us that everything is alright now that they have rigged the game, stolen our money and are now just sorta' correcting the course again?

Yeah, and two minutes after the interview he was laughing his ass off.

reply to post by JayinAR


He was? I didn't see that video.

Could you post the video of him "laughing his arse off"?

I have been following Soros and this statement is a complete u-turn from he has previously been saying.

I think he was either misquoted or was forced in some way to say this.

The economy is fake, it's all fake money and derivatives.

It's like saying that he had very little solid gold but now he have a truckload of hollow gold so fragile it cracks just by looking at it.

This is economic growth is extremely temporary, he's just perhaps trying to build temporary confidence while he's still alive, any smart businessman/investor would do this.

Delaying a recession only to one day get the greatest depression makes no long-term economic sense.

I suppose if you choose to ignore 70% of the economy, you could say that it was recovering now. That 70% is the consumer. Consumers are people with jobs - the same people that pay for the government stimulus that Soros is saying is saving us. Unemployed people don't pay taxes. Let's look at tax receipts:

news.yahoo.com...:/ap/us_plummet ing_taxes
[atsimg]http://files.abovetopsecret.com/images/member/3fff8f4d4328.jpg[/atsimg]

What does this tell us? That Americans incomes are going down therefore tax receipts are going down. It also tell us that the increasing government debt from the stimulus that Soros so adamantly suggested was the cause of the "recovery" will not be able to be paid.

Soros, and I'd venture to say Reuters, is looking to manipulate the markets upward with this statement. Afterall it is in his best interest you know. Don't believe everything you read and certainly try to understand the ENTIRE story because they won't tell you.

[edit on 12/8/2009 by Iamonlyhuman]

Originally posted by ModernAcademia
I have been following Soros and this statement is a complete u-turn from he has previously been saying.

I think he was either misquoted or was forced in some way to say this.

Wait.. there is another, even more logical reason.

He received new data which caused him to change his mind. That's a pretty common thing ya know.

The economy is fake, it's all fake money and derivatives.

It's all fake. So I can just go in and take the bread from the store and no one will care?

I don't think it's exactly Fake. Maybe it's built on weak things, etc. But it's hardly fake. Tell that to the homeless.

It's like saying that he had very little solid gold but now he have a truckload of hollow gold so fragile it cracks just by looking at it.

This is economic growth is extremely temporary,

What objective data are you basing this assumption on?

he's just perhaps trying to build temporary confidence while he's still alive, any smart businessman/investor would do this.

Delaying a recession only to one day get the greatest depression makes no long-term economic sense.

Again.. what objective data are you basing this on?

reply to post by Iamonlyhuman


Well to be honest, the Economy is very similar to your own reality.

If you get up thinking you are nothing, and that you won't go anywhere... you will create your own reality.

The Economy is the same. We create the economy every day with our words, our thoughts, our deeds.

I agree it is completely based on perception, just like reality.

That being the case, do you want it to succeed or fail. That's really the biggest question.

reply to post by IDK88


lol
keep that thought in mind when mid novemberish hits and december everything dries up.

lol gotto love how wallstreet received all the bail out money and hasnt felt one bit of the pinch, but the have nots are still out of work, losing there families, houses, and self worth.

my opinion is this: when this bail out money is finally finished taking its rounds on wall street. these tyrants will be needing bail out 2. if they do not get it, then you will see that the bottome will not be for another year or so.

kinda hard to keep the american dream alive when we PRODUCE NOTHING ANYMORE.

Originally posted by HunkaHunka
reply to post by Iamonlyhuman

 

Well to be honest, the Economy is very similar to your own reality.

If you get up thinking you are nothing, and that you won't go anywhere... you will create your own reality.

The Economy is the same. We create the economy every day with our words, our thoughts, our deeds.

I agree it is completely based on perception, just like reality.

That being the case, do you want it to succeed or fail. That's really the biggest question.

Obviously, I want it succeed. But what I will not do is talk up an economy at the expense of people who believe what other people say. These are the people who will invest their life savings in a market that HAS NOT bottomed and will probably lose much of it.

I get the whole patriotic thing about "investing for your country" and having a positive outlook... I just don't want people like my parents buying into this and then having to see the result on my conscience. Do you?

[edit on 12/8/2009 by Iamonlyhuman]

Originally posted by IDK88

"I think it (the stimulus) has made a difference, the economy has actually bottomed and I think we are facing a positive quarter, and I think that is largely due to the stimulus,"

this strikes me as similar to an executioner telling you that "you may feel a pinch as the needle is inserted into your arm."

it's might well be the truth, but if you hope that this is as bad as it's going to get, you're in for a touch of disappointment, to say the least.

the depreciation from all that printed money has yet to feed through, lets just see what that does before we celebrate having climbed out of the frying pan.

[edit on 12/8/09 by pieman]

Originally posted by HunkaHunka
I don't think it's exactly Fake. Maybe it's built on weak things, etc. But it's hardly fake. Tell that to the homeless.

It's fake, it's called legal counterfeiting.
The FED prints money out of thin air, more than the currency is worth
what do you think will happen in the near future?

FIAT Money = Fake Money
FIAT Money = Legal Counterfeiting
FAIT System = Slavery

Originally posted by Iamonlyhuman

Originally posted by HunkaHunka
reply to post by Iamonlyhuman

 

Well to be honest, the Economy is very similar to your own reality.

If you get up thinking you are nothing, and that you won't go anywhere... you will create your own reality.

The Economy is the same. We create the economy every day with our words, our thoughts, our deeds.

I agree it is completely based on perception, just like reality.

That being the case, do you want it to succeed or fail. That's really the biggest question.

Obviously, I want it succeed. But what I will not do is talk up an economy at the expense of people who believe what other people say. These are the people who will invest their life savings in a market that HAS NOT bottomed and will probably lose much of it.

Ok now that is probably one of the most salient points I've seen mentioned.



I agree that no one should invest their life savings in ANY market. Any one who does so is a complete fool and deserving of what they get.

You invest slowly and only with disposable income you can afford to lose.

I get the whole patriotic thing about "investing for your country" and having a positive outlook... I just don't want people like my parents buying into this and then having to see the result on my conscience. Do you?

[edit on 12/8/2009 by Iamonlyhuman]

I agree wholeheartedly... as I mentioned, no one should invest all their life savings in ANY market.

You make many valid points man...

Thank you for being on this forum.