Tuesday, June 15, 2010


Bloomberg posted a video of a speech given by George Soros. It is worth watching. Soros believes that we are now in Act Two of the financial crisis. The sovereign debt problem has not gone away, has not been dealt with, and will come back to haunt us. It makes me shiver thinking about the amount of leverage in this world. America is swimming in debt and has pushed its problems under the rug by borrowing even more in order to solve its problems. The European sovereign debt problem has also not been adequately addressed. Although I have not been involved with credit markets in my life, I still wonder why anyone would buy the debt of countries that will not be able to pay back their debts.

That being said, here's the link to the video...

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