‘The EU Is on the Verge of Collapse’—An Interview
Just like many pundits predicted the financial problem of 2008 would follow a similar trajectory as the Great Depression, which it didn’t, now many predict the EU will collapse like the Soviet Union.
I’ve also I’ve noticed a trend recently of sites on the ‘right’ legitimizing Soros by linking to his commentary, almost in agreement that, yes, economic crisis is inevitable, as Soros says it is, and crisis is ‘good’. Soros, like most leftists, seeks crisis so that Communism or some sort leftist government can be enacted during the rebuilding phase, which happened in the aftermath of the Great Depression, October Revolution, and other examples in history, and even recently in 2008 with the election of Obama. The ‘right’ could be mistaken to believe that they will rise to power should there be an economic reset, not the left. Historically speaking, economic crisis and upheaval has always benefited the left. If Soros, a liberal, is seeking crisis, it’s because he probably knows he (the left) will gain even more power during the rebuilding phase.
From my earlier Soros article, Soros: It’s the 2008 crisis all over again:
If civilization falters or completely fails, what makes the right certain the left won’t take over, creating something worse than we already have?
Also, Soros, like most liberals, has a really bad track record at predicting stuff. Another liberal, Krugman, as some may have forgotten, predicted in 2011 & 2012 that the Euro would fail, which has yet to happen.
And also, many failed predictions and sensationalism by the left about global warming.
Failed predictions in 2010-2012 about Euro collapse; failed predictions between 2008-2010 of economic crisis relapse; predictions of bear markets and recession – all wrong. Meanwhile, the market keeps going up.
As for the US economy, yes, the labor market is weak, as it has been since 2009 and will likely remain due to automation and other factors, and oil is low, but the rest of the economy isn’t that bad. GDP will also remain slow, and it would not surprise me if eventually the 30-year treasury yield falls below 1.5% an then 10-year yield below .5%. But due to strong consumer spending and exports in spite of weak GDP and anemic job market, multinational companies will continue to print cash, and that bodes will for stock prices. In the past week, Bank of America, Goldman, and Jp Morgan crushed earnings estimates for the 24th time in a row, as far back as the recovery began in 2009. Netflix also crushed earnings, and I expect Google, Facebook and Amazon to also beat earnings, as they always have… [1] The new Star Wars movie has officially grossed $2 billion. Too many people are expecting or want a repeat of 1929, 2000 or 2008 again, but it’s just not in the cards, sorry.
‘Doom and gloom’ seems like another form of activism and wishful thinking, which rationalists and realists categorically oppose unless the data affirms such doom and gloom, which it doesn’t yet.
The ‘Brexit’ is another Europe-related story that has been passed around in recent months, which like Soros’ wrong predictions, has failed to materialize into anything beyond sensationalist headlines and scaremongering.
Related: How the liberal media is always wrong
[1] They did, with Facebook, Google, and Amazon posting blow-up numbers and Facebook and Amazon stock both surging over 8%.