George Costanza Soros is at it again. He reckons a hard landing for China's economy is 'unavoidable'
The last time I heard from Soros on China was when he said it was not an exaggeration to say the world could be on the threshold of a third world war, especially if China's economy falters
Which, of course it has been (an exaggeration).
This time he is being a bit more cautious and reasonable:
"A hard landing is practically unavoidable ... I'm not expecting it, I'm observing it. China can manage it. It has resources and greater latitude in policies, with $3 trillion in reserves."
He spoke with Bloomberg
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Soros says he is long U.S. government bonds, short stocks. And:
- Says Russia is in a very weak position ... that he believes Russia has enough reserves to last for just "a couple of years"
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George has been quite vocal this week:
- says the EU is on the verge of collapse
- "I'd be surprised if the Fed raised rates again"
GS has been in Davos this week.
