“Something similar is happening in the West,” Mr. Soros told Bloomberg Television. “You had a financial crisis where the market did actually collapse, but it was kept alive by the authorities. People don’t realize that the system has actually collapsed.”
The Hungarian-born financier said he himself is confused by Europe‘s woes.
I am confused too but this is an interesting way of looking at it. I have been under the same impression a lot of people are, that the system is teetering on the edge and policy makers are being pushed by markets to save/reform it. But what if what Soros here says is true? What then?
Source: George Soros likens troubles in U.S., Europe to Soviet collapse, Globe & Mail
This post originally appeared at Credit Writedowns and is reproduced with permission.