ARGENTINA-GEORGE SOROS.
There is now doubt that Farmer George predicted the market well, as he said in November that Wall St has to be corrected at 7,500 points, the market closed on Friday just under this figure.
The bad news is, that because of the time taken in market manipulation, according to George there is now no bottom in sight for the economic collapse.
Soros was giving a speech at the University of Colombia on Friday night, said that the current financial situation is now far worse than the depression in the thirties.
No one can deny that Warren Buffet read the market wrong, telling us that Wall St had bottomed in January at 8,500, as he placed US$3 billion into Goldman Sachs telling everyone this was a good buy.
Buffet is one of the main advisers of the Obama administration.
Donald Trump has filed for chapter 11 bankruptcy on two of his casino companies, after shouting from the roof tops "This is a good time to buy".
Brazil on the other hand maintain that the worse of their recession is over,as borrowings are now back at the figures prior to August 2008.
George Soros said that the bankruptcy of Lehman Brothers in September, was the turning point.
"We witnessed the collapse of the financial system and it was placed on life support, it is still on life support with no signs of the bottom of the market", according to Soros on Friday.
Paul Volker, former chairman of the Federal Reserve Bank said on Friday, " I don’t remember anytime including the great depression, when things went down quite so fast".
