The Ukraine And The European Union Need A Better Debt Relief Plan According To Billionaire George Soros

George Soros has been talking about Ukraine debt for the last 14 months. Soros has written essays on the subject, and the New York Times and the Wall Street Journal, as well as other news publications, have published articles about possible structural reforms in the Ukraine. George Soros has also been very vocal about the European Union and the mounting debt and bank issues that are causing concern about the longevity of the EU. The banks in Italy, Spain, Portugal and other member countries are in trouble, and Germany is showing signs of wear and tear because of the migration dilemma, according to Soros.

Soros believes that in the case of the Ukraine default might be a better way to get debt relief, and investors should welcome that strategy. If the Ukraine does default, investors will still have a chance to recoup some of their investments on, but many investors oppose the notion of a default, according to Mr. Soros. Fixing what ails the Ukraine is not easy. The constant pressure from Russia is not making the country a stable economic entity.

The philanthropist and financial expert also think the European Union has some serious issues, and they must be addressed before all hell breaks loose in Europe. The Brexit vote has many EU members nervous, but the British exit is not the major issue. Countries like Spain, Ireland, Italy, Greece, and Portugal are holding the EU hostage with their free-spending habits. The migration issue is also creating a major crack in the foundation of the EU, and Soros believes something has to be done quickly to hold the EU together. But nationalism and antiterrorism are the main focus now, and the arrangement with Turkey is not solving those issues.

Read more: Ukraine Deserves Debt Relief

The Soros Open Society Foundation works in countries that need help embracing Democracy and freedom. Soros is acutely aware of pending economic and social disasters that are looming across the European continent. Soros may be best known for his investment prowess, but he is also an expert when it comes to predicting the economic stability of countries around the globe. Soros has developed an extensive network in Europe, and even though he is an American citizen, he has a love for his European roots. Soros was born in Hungary 86 years ago.

So what is taking place in the Ukraine is not new for Soros. He understands what it feels like to live in a country that is torn apart by political and economic turmoil. That is one of the reasons George Soros cares so much about the conditions in the Ukraine. George may be worth more than $32 billion, but he still remembers his childhood poverty, and the road he took to get away from it.

Fixing the European Union won’t happen in 2016, and it’s doubtful any progress will be made in 2017 unless European Union leaders change the way they operate. Soros doesn’t believe that Germany will continue to support the EU as it has done in the past, and Soros knows that is a dangerous thought.

George Soros; China Could turn to be the US of 2008

At an Asia Society event in New York, billionaire investor George Soros discussed the resemblance of the current China economy to the one that occurred in 2008. According to Soros China’s lending spree could affect the (FXI)(YINN)(ASHR) growth. Indeed, there are similarities in both economies. These current market trends according to George Soros should be a worry to global investors. In 2008, the primary cause of the US market crash (QQQ)(SPYY)(VOO), was the soaring credit levels and the estate bubble.

China and the US market that failed in 2008 are similar. The possibility of that happening as George Soros said in April cannot be 100% verified. The Chinese market had already tumbled in August 2015. The ratio of total debt to GDP remains too high, at 246% in 2015. In 2007 total public debt to GDP ratio for US (SPXL)(VOO) was 2007. When a debt increases to more than 5% of GDP, then it falls under the category of “highly risky”.

On public prediction, George Soros printed a book in 2008 about the financial market. In the book, he predicts a “superbubble” that had built in the past 25 years and was ready to crumble. The book was the third Soros had written that predicts disaster. Gorge Soros attributes his success, to being able to recognize when he makes wrong predictions. Soros has persistently compared the US crisis of 2008 and the current Chinese crisis. Undeniably, China’s position on has weakened in the global arena. This is due to lack of demand, industrial recession, and the rollercoaster experienced in the stock market. The Chinese government is also on a learning curve. As a result, the government has continuously made policy mistakes.

As per George Soros, the bubble caused by property and construction in China could grow to consume itself. These similarities he draws directly from the one that occurred in the United States in 2005 and 2006. This bubble could keep on growing to the extent that it will be unsustainable. George Soros further claims that the monetary stimulus only extends the inevitable. China growth in the economy was as expected but stimulus measures mainly drove it. This shows that the Chinese economy cannot be said to be on the safe side yet.

Certainly, George Soros has a record of a crying wolf; this is the third time to predict a crisis in the economy. This time, he believes he is correct and states that even when the boy cried the third time the wolves came. He is an investment billionaire, and such wealth is not gained by being wrong, you survive by being able to recognize mistakes. Is George Soros prediction about China correct?

Read more at The New York Times about George.

History of George Soros’ Rise in the Field of Finance

George Soros recently made headlines with his financial report that stated that the current world economic system is unusually similar to the economic pattern that led to the fiscal crisis that nearly crashed the 2008 stock market. George Soros is known for his financial estimates and predictions and has a reputation for making accurate predictions. The financier has several ties to economic strategies and development. His decades of work in the financial industry has led him to become one of the single most influential business leaders in the global economic system. Because George Soros has accurately predicted several economic shifts, his predictions regarding the current economic state should not be taken lightly.

George Soros embarked on a long and tedious journey towards becoming the billionaire financier on that he is today. The Jewish-Hungarian banker was born to a struggling family at the onset of one of the most difficult times in history. As a native of Budapest, Hungary, Soros was forced to relocate after Nazi Germany invaded his homeland and began persecuting the Jewish community. The school that George Soros attended was effectively shut down after this invasion and Soros (along with other Jewish children) was forced to be educated by rabbis in their own community. Soros eventually would pose as a Hungarian official’s son in an effort to attain a better life with significant opportunities.

This difficult upbringing was perhaps one of the most significant factors in George Soros’ development into a captain of industry. The businessman learned to persevere in the midst of incredible opposition and developed an incredible work ethic. Even still, life was not a breeze for the Hungarian business owner. Soros began life after adolescence by working a series of dead end jobs to support himself. He eventually recognized that the jobs were not fulfilling to him and began to search for a career that would better suit his skills. Soros then embarked on a mission to gain employment by a banking institution. He recognized his skillfulness at making money on through one of his previous positions as a salesman. With no qualifications, however, finding a position in a banking institutions proved to be a difficult tasks. Soros once stated in an interview that when he was seeking employment at a banking institution, he contacted every single financial institution in his vicinity. He only interviewed with two of these institutions and was only offered a position at one. One job offer was, in fact, all the businessman needed to begin a promising career as a financier.

Though his position at the banking institution was merely an entry level position, George Soros made the most of it. He gradually worked his way up the ladder of the company, swiftly becoming knowledgeable areas of finance and economics. This job was the beginning of a series of employment opportunities that were presented to Soros that eventually led to his development into an extremely wealth business owner, political activist, and influential economic leader. George Soros is living proof that hard work and perseverance create success. More information can be found here.

A Second Financial Collapse Approaches, States George Soros

George Soros has built his reputation and personal fortune on being aware of every aspect of the global financial position, which is why his warning of oncoming financial problems that will affect the entire world has been taken so seriously. Bloomberg has printed the transcript of an interview George Soros gave at an economic forum in Sri Lanka where he gave a dire warning to financial experts and investors over the state of the global economy; Soros pointed out on Bloomberg to issues in Europe and China as the major driving forces behind the problems the world faces.

George Soros embarked upon his own journey to the U.S. as a refugee after surviving the Holocaust of World War II, which led to him beginning his financial career that led to the formation of his own hedge fund. The career of George Soros has seen his hedge fund reach unprecedented levels of success that averaged at least 20 percent in growth on an annual basis for over 30 years.

The career of George Soros saw him keep abreast of the political and economic situations in different areas of the world, which is why he has now given his view on why a global economic slowdown could once again occur. The main issues for the potential collapse of the global economy can be found in China and its constant struggle over recent years to cope with a growing middle class; the growth of the middle classes in China has inspired a change in the focus of the economy from its traditional focus on investing and manufacturing. In recent years, George Soros has seen an ever decreasing level of growth in the Chinese economy that he feels has not been handled correctly by Chinese financial officials. Soros believes the problems in China have combined with the refugee and economic problems in Europe to create a perfect storm that could lead the world into a global economic crisis to rival that seen in 2008.

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