2009-02-21reuters.com

Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

Hello George. Welcome to ml-implode, about a year ago.



Comments:

tvsterling at 10:20 2009-02-21 said:
The Baltic Dry Index is good because there is no government Pollyanna Factor involved. The various governments can't make it up or change it into feel good propaganda. A true pulse on international commerce. Seems to have rebounded some (my guess alternative financing is being developed). Bloomberg's chart; http://www.bloomberg.com/apps/quote?ticker=BDIY%3AIND Wikipedia Article; http://en.wikipedia.org/wiki/Baltic_Dry_Index

Draw your own conclusions. Permalink

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