Soros, "Worst Financial Crisis in 30 Years"

By on July 5, 2008

George Soros reportedly said in an interview in Stern magazine reported on July 3rd:

“We are in the midst of the worst financial crisis in 30 years. We have recently seen how bubbles burst. Take, for example, the high tech bubble or the current mortgage crisis. And we have not yet seen the end of this one. The decline goes further than people expect. I believe, that we have not even seen half of the price deterioration. Over the next year, more than 2 million households will become insolvent because they will not be able to pay back their loans. There is a huge destruction of wealth underway.”

See the entire interview at http://www.stern.de/wirtschaft/unternehmen/maerkte/:George-Soros-We/625954.html

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