Soros Sounds Off

[vox]

http://www.thedailybeast.com/newsweek/2012/01/22/george-soros-on-the-coming-u-s-class-war.print.html

Interesting excerpts:

“At times like these, survival is the most important thing,”

He doesn’t just mean it’s time to protect your assets. He means it’s time to stave off disaster. As he sees it, the world faces one of the most dangerous periods of modern history—a period of “evil.” Europe is confronting a descent into chaos and conflict. In America he predicts riots on the streets that will lead to a brutal clampdown that will dramatically curtail civil liberties. The global economic system could even collapse altogether.

“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

 

[pmbug]

The Fed and PPT have been doing their damndest to avert the deflationary credit destruction that is necessary for the "best case deflationary environment". They are pushing markets to the brink where a collapse of the financial system is more and more likely (if there isn't a fundamental change to business as usual).

We have an escape route available to us, but it will take greater awareness and understanding from the public to push it through.