Billionaire George Soros who is famous for causing the collapse of Bank of England warn that US might be on a verge of a serious correction.
"We have borrowed an awful lot of money and now the bill is coming to us," he said during a lecture at the New York University, also adding that the war on terror "has thrown America out of the rails."
Asked whether a recession was inevitable, Soros said: "I think we are definitely in for a slowdown that I think will be a bigger slowdown than (Fed Chairman Ben) Bernanke is seeing."
Soros said that, for now, China is the "absolute winner" in economic terms, and will continue to see its economy soaring during the next few years.
If China's economy is to expand and grow, it would be wise for investors to allocate some funds to invest in good quality China company.
I would highly recommend investors to sell away shares of companies that highly dependent of US for revenue.
No comments:
Post a Comment