George Soros believes Clinton can avert an economic disaster
George Soros believes the economy is heading for another collapse similar to the one caused by the 2008 housing bubble on nybooks.com. The billionaire points to a number of factors occurring around the world that lead him to believe that the world economy is heading for another collapse. Many of these factors are not occurring in the United States, instead they are taking place in the world’s second largest economy.
China, unlike most of the world, avoided the effects of the Great Recession. The countries that suffered the most from the economic downturn have faced slow and anemic recoveries. Several countries in the European Union only narrowly averted financial disaster. The crises in Greece and Cyprus may be played out again, which would send the world into new economic turmoil.
George Soros actively participated in politics until 2008. He helped start MoveOn.org, and he gave financial support to Media Matters. The Media Matters website monitors television, radio, and Internet sources and attempts to correct conservative misinformation. After failing to affect the 2004 Presidential election the billionaire, George Soros chose not to donate to any presidential campaign in 2008 and 2012. Despite Soros’ reluctance to donate to any campaign, Democratic candidates actively courted his financial support. George Soros ended his silence for the 2016 campaign, and he has donated several million dollars to Hillary Clinton’s presidential campaign.
China and Japan are currently devaluing their currencies to make their goods more competitive in a global market. In the Communist nation, the government on Marketwatch embarked on a series of expensive building projects to keep the economy flowing. Thousands of unoccupied buildings and ghost towns that have never been inhabited now exist around the country. Many companies are fleeing China because they can find cheaper labor in developing African and Asian countries. If these conditions on theatlantic.com do not change, it may cause another collapse that Austrian economist F.A. Hayek could have predicted. A series of bad investments have brought the world to a precipice. It would not take much to send the global economy off a cliff. Soros hopes that Clinton has the abilities needed to alleviate or to avert the situation.