There is not a single investor alive today he does not remember the events of 2008-2009. This was a hugely turbulent time in the stock markets. It was a moment in history at which we were concerned that the entire economic system itself might collapse. Fortunately, this did not happen, but there is no question that no one wants to see those days again in the market. Unfortunately, there are some big names saying that this may be the direction that we may be headed towards once again.
Soros Worries That 2008 Is Coming Back
It is sure to grab some headlines when billionaire investor George Soros says that signs are pointed towards another 2008 like event, according to Bloomberg. He says that a lot of the worries in the market are things that are hard to overcome and get back to working the way that they usually do. What are the things he is particularly concerned about?
The Problem In China
CNBC reports that one of the primary concerns for Soros is what is going on in China. There are worries that the government in China is feeling the pressure to devalue its currency. This causes problems in US markets and in fact in markets all around the world.
The issues in China have certainly had an impact on their own stock markets. In the last few trading days we have seen the Chinese government pull out the circuit breakers to shut down the markets after they dropped some 7% or more in just the few minutes that they were actually open. This caused huge worries in the United States and have caused markets to get very jittery.
Greek Debt Problems Remain
They have been overshadowed in a lot of ways because of the other news in the market, but investors would be wise to not ignore what is going on in this country. There could still be ripples to the economy that are a result of the Greek debt crisis.
Why Listen To Soros
Of all of the voices out there talking about the economy, Soros is one worth listening to. He has actually made his money in the markets and continues to be a pioneer in those markets. It just makes sense that Soros is the kind of guy to listen to when it comes to getting the straight answers on the economy. He knows what he is talking about from experience, and he shares that information with the public.
It is a good idea to listen to strong voices in the market in order to get better ideas about what is really going on and to make sure that you are making the right moves. Consider the fact that he has made a huge amount of money by trading his whole life and you will see why it is such a good idea to pay attention to what he had to say.