George Soros Saw It Coming

George Soros is a well-known name in the investment world. Popularly known as “the man who broke the Bank of England”, he has worked hard to earn himself a spot on the table where the high and mighty seat. The renowned investment mogul was born in 1930 in Budapest. At 13, he witnessed and survived the Nazi occupation of his home country. He was able to flee Budapest and found himself in London. In 1947, George Soros earned his baccalaureate in economics from the London School of Economics. Four years later he graduated with another bachelor’s degree in philosophy from the same institution. He also earned his Ph.D. three years later from the same institution.

A few years later, George moved to the United States and started his own hedge fund business on, Soros Fund Management. The company quickly grew into one of the biggest investment firms in the world earning him success and respect as an investor. He ran the organization for two decades before he decided to step down as CEO and became the board’s chair. By the late 1980’s, George Soros had become one of the wealthiest people on the planet. He took this as an opportunity to change what was, according to him, wrong in the society. He founded the Open Society Foundation, a non-profit organization that strives to ensure that open societies are established and that governments are held accountable. Through this foundation, George has been able to raise funds to support university students who find it hard to pay their tuition fees. The organization has extended these efforts to South Africa where they provide black South African students with scholarships.

George is not known for his philanthropic efforts only. He is also a widely known political activist. He has lectured and published numerous book on sharing his views and opinions on issues such as political freedom, education, human rights, economic progression and finance among others. Some of the books he’s written include “The Credit Crisis of 2008 and what it means”, “The Life and Times of a Messianic Billionaire”, “The Tragedy of the European Union” and “The Alchemy of Finance”.

George is a generous man with nifty views on politics and economics that usually receive worldwide plaudits. He has never shied away from expressing his opinions or standing up against contentious issues that affect the society. Not long ago, George gave a stern warning to investors to be cautious since the global markets are currently facing a crisis. While speaking at an Economic Forum in Sri Lanka, George reiterated the fact that it was going to take time for interest rates to improve in the development world as the current financial environment is very similar to that of 2008. During the forum, George said, “When I look at the financial markets there is a serious challenge which reminds me of the crisis we had in 2008.”

George had predicted the situation back in 2011 while in a panel in Washington DC. While in Colombo, George noted that China was struggling to find a new growth model and them devaluing their currency only meant that the rest of the world would be in as much trouble as they are. China’s economy has slowly been shifting into a consumption and service driven economy from a manufacturing and investment driven economy. This has had an adverse toll on the currency, stock and commodity markets across the globe.


Why George Soros Feels the Current Economic Situation Is Reminiscent of 2008

Many investors are beginning to feel nervous over the economic situation that is going on in China. In fact, George Soros says that the situation that is taking place in global markets right now echoes that which took place in 2008. This is not the only time that Soros has predicted a situation reminiscent of 2008. In fact, in the year 2011, George Soros mentioned that the European debt crunch that originated in Greece was worse than the crisis that took place in 2008.
There are a number of reasons why George Soros feels like the current economic situation is reminiscent of that in 2008. He said that the current environment has many similarities to that year. Commodity markets, global currency, and the stock market were under serious fire during just the first weeks of January 2016. Also, the value of the yuan was decreasing. One of the reasons why this currency is losing value is because China is moving away from manufacturing and investing and shifting toward services and consumption. It was estimated that about 2 1/2 trillion dollars was wiped clean from the value of global equities during just a short period of time in January 2016.

George Soros is a well respected investor and businessman. According to Bloomberg Business Index, he has a net worth of about $27.3 billion. He is the owner of a well-known hedge fund firm, which has gained around 20 percent every year since its inception in the late 1960s. This and the fact that he was able to net more than $1 billion in the year 1992 when he bet that the United Kingdom would be forced to devalue the pound have led him to gaining a good reputation in investing. His opinions are respected by millions of individuals.

George Soros is the founder of the organization Open Society. The purpose of this organization is to promote the idea of open society where governments are held accountable for their actions, each individual has establish rights, and truth is spread to everyone. This organization is unlike any other that has been established in history. Its primary goal is to do good for others. Setting up this organization and serving as its chairman is definitely not the only thing that George Soros has done to help other people.

For many years, George Soros has worked with a variety of causes in order to improve the lives of others. For example, in 1979, he provided scholarships to black South Africans who were living under apartheid. He was also instrumental in helping the Roma people of Europe coming into the mainstream and getting the help they needed. He has worked with many young individuals, helping them get the education they need to pursue fulfilling careers.