Soros is predicting a DEPRESSION - what do you think?
Best Answer
160 points
Einstein answered one year ago …
no we will not have a depression, however with the threat of Obama raising Corporate tax is only going to chase more companies in the US to other cheaper taxing countries. Companies that provide jobs and show growth should be the ones to receive tax cuts ...If we some how do not bring ideas to the table to help entice companies to come back and manufacture here
Then I guess a depression is not out of the deck
Answers
3963 points
MNSL answered one year ago …
If more than 1000 banks fails
If consumer debt increase to unmanageable level
If ill regularised market players become more and more active
If investors loss confidence very badly
We will have a depression.
However definitely we will have depressed market for some assets such as all types of commodities, property, forest, cars, computers, electronic and communications equipments, arts etc until 2015. Especially once baby boomers retire, there will be more depressed conditions for some assets such as property and bonds from 2012 onwards.
Some companies, sectors will have robust growth from next year onwards. This is the time to invest in next rotating sectors and correct sectors. I do not think that there will be broader bull markets except sector bull markets in some countries in the next 02 years
2082 points
alanj answered one year ago …
If Obama's plan of raising taxes during this economic bear market you can count on it. This is what was done after the 1929 stock market crash and we went into a depression afterwards. It took 20 years to get back to the same level before the '29 crash. Obama's "change" is a change to something that has already been tried and failed. Let's hope more reasonable minds prevail and block any efforts to raise taxes.
Read more from alanj102 points
brevelore answered one year ago …
Do not pick on Obama, the damage is done and it is too late to fix anything, blame whom took as to this
point without any feelling for those whom now have no food. The mortcages alone not enough to
destroy the economy. So where did the money go ?????
904 points
jillybeansisme answered one year ago …
"Companies that provide jobs and show growth should be the ones to receive tax cuts ..." said Einstein. Well, that's EXACTLY what Obama thinks and has said time after time in debates and on television. Also, "if Obama's plan of raising taxes during this economic bear market you can count on it (a depression)" said Alanj -- many tax breaks had a time limit on their duration and those durations expire. It doesn't matter whether McCain or Obama won the presidency -- those same tax cuts expire no matter what . . . unless it is voted in to extend them. That is not an "Obama thing".
Perhaps some of you should have taken the time to go to both of the McCain and Obama websites during the campaign. They were extensive on what they would like to implement if elected to office. It wasn't as though they kept "close to the vest" as some readers have suggested in various questions.
Our markets stink because of lack of integrity on the part of executives in many industries. If I ran my checkbook the way the government and lobbyists run our country -- I would have declared bankruptcy long ago. If I ran my finances the way most Americans unfortunately do, I would have declared bankruptcy long ago. I'm sorry, but not everybody was a first time ignorant buyer signing a legal document without seeking advice from somebody more knowledgeable -- some of us actually know we are shopping for stuff that costs too much that we don't really need but, hey, let's get it anyway because the plastic card isn't like spending real money.
Do I like that I feel I'm paying for everyone else and our country who has had no discipline for far too long. No. Do I think there will be a depression. No, because Americans are finally waking up and smelling the coffee and realizing things are too far out of line. They are pulling in their belts. But the effects of change take time and that's why it will be rocky times for awhile.
Don't panic is the best suggestion.
