Everyone understands that George Soros is a well known figure in the financial world. In 1992, he bet against the British pound – which means that he though the pound would lose value. Well, it did. He made almost a billion dollars on that bet, and there started his career and reputation.
Well, he has come back with a vengeance on the economy. Now he says that another recession like the 2008 recession is going to happen. China has come under fire lately, and their market is suffering for it. The commodity markets have plummeted; the stock value dropped by almost $2.5 million. The Chinese market has its issues alright.
However, that’s not the only reason that Soros believes the 2008 recession will repeat. The situation with the Ukraine is also a factor. They have been trying to get help to deal with all their issues, but the European Union has shrugged them off. They are treating them, Soros says on Bloomberg Business, like they did when Greece had their financial collapse.
This treatment of the Ukraine is not going to be beneficial to anyone. At least, not in Soros’ mind. He believes that by helping Ukraine, in a very different way than the European Union did Greece, the rest of the issues will fall into place. The fact that the Ukraine is fighting off Russia, and keeping the rest of the European Union from having to face them, is another reason they ought to help Ukraine. They’re even trying to revolutionize their political system.
Since Soros has been a leader in the financial market, it makes sense to listen to him. There have been plenty of instances where he has been right. Why shouldn’t the world listen now when it could prevent further war and pain in Ukraine and in China? If it could help turn the financial situation around, listening to Soros is the best thing to do right now.