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Soros: Global Financial System In ‘Self-Reinforcing Process Of DISINTEGRATION’

Via: Huffington Post

Billionaire investor George Soros says that the global financial system is on the brink of collapse.

Developed countries are falling into a “deflationary debt trap,” in which consumer spending falls, products become more expensive, tax revenues drop, and sovereign debt grows, Soros said last week, according to the Wall Street Journal. As a result, he said, the global financial system is in a “self-reinforcing process of disintegration.”

“The consequences could be quite disastrous,” Soros, who was born in Hungary, said at the tenth anniversary of the International Senior Lawyers Project.

http://www.huffingtonpost.com/2011/12/05/george-soros-global-financial-system_n_1129210.html?ref=business

***

personal thought:

consumer spending falls

+

products become more expensive

+

tax revenues drop

+

sovereign debt grows

=

DIASTER

~~~

Soros was right about President Bush, and unfortunately, he’s right about this.

.

December 7, 2011 - Posted by | 2012, President Bush | , , , , ,

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