SOROS: GLOBAL SUBPRIME LOSSES LIKELY ABOVE $1 TRILLION (REUTERS)

Reuters - George Soros, the hedge fund legend
and billionaire philanthropist, said on Wednesday the subprime
mortgage crisis is likely to cause global losses of over $1
trillion, characterizing the situation as the most severe since
the Great Depression.

RLCC Comment: It's still worse than anyone in the mainstream is saying. It has to get a whole lot worse before it gets a whole lot better. That's because people don't realize how wrong a path is until catastrophe strikes. Last time, it was the Great Depression. Certain things were done to make the economy more fair to the poorer classes. Those things were rolled back though. This time, people have to learn that voluntary unity and real giving and sharing is the only way up and out. Everything else just leads back into the dark and infinite dead ends.

Selfishness is wrong, and the current system is built upon it.

Link to source-webpage, obtained via: Yahoo! News: Economy News, April 9, 2008, 9:09am

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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