Category Archives: Financial Disaster

George Soros and the Beginning of the Stock Market Crisis

 

Who is George Soros?

George Soros was born on August 12 of 1930 in the city of Budapest in the country of Hungary. He is a survivor of the Nazi Germany control in World War 2. In 1947, he graduated at the London School of Economics. Soros moved to the United States and earned his fortune working with the international investment fund that he himself made and managed. As a philanthropist, or someone that seeks the well being of others through charity since 1979, he provides funding for African students to attend Cape Town University in South Africa. The Open Society Foundations as they are called now function in over 100 countries thanks to Soros, and were able to provide more than $835 million in the year of 2011 alone. Soros has published more than a dozen books, and his expertise of politics and finances have helped many.

George Soros and His Prediction

As of January of 2016, global markets have been facing a crisis. The country of China has been having many problems, as the devaluation of their money is causing many different problems for other countries. Soros claims that this situation is very similar to what occurred with the global markets back in 2008. This isn’t the first time that Soros has claimed this before either. In a panel in Washington back in September of 2011, he explained how the debt that Greece had accumulated in Europe was very similar if not worse to the 2008 market crash.

What role does George Soros play for this crisis?

George Soros has had a lot of predictions on Bloomberg.com that came true. He has compared both crises to the Stock Market Crash of 2008, which was the biggest crash to occur in a single day in the stock market, resulting in a loss of over $1.2 trillion in the stock market. As someone who works closely with finances and the market, Soros doesn’t want to see this happen again, and warns investors to be careful with their funding. To China struggling to find a new way to have a growth to it affecting other countries, everyone in the stock market needs to be careful on how they spend their money, and that it is going to somewhere that can benefit many rather than make many suffer financially.