Isn't it kind of strange that in the week following the Bilderberg gathering in Spain, that all the top global elitists are calling for an end to budget deficits and a cut back on social programs or the consequences will be a collapse of the world's economy? It seems they are all on the same page of the script they prepared over the weekend. More talk of "austerity fascism" in my opinion.
Soros Says `We Have Just Entered Act II' of Crisis
Billionaire investor George Soros said “we have just entered Act II” of the crisis as Europe’s fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.
“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”
Soros, 79, said the current situation in the world economy is “eerily” reminiscent of the 1930s with governments under pressure to narrow their budget deficits at a time when the economic recovery is weak.
Concern that Europe’s sovereign-debt crisis may spread sent the euro to a four-year low against the dollar on June 7 and has wiped out more than $4 trillion from global stock markets this year. Europe’s debt-ridden nations have to raise almost 2 trillion euros ($2.4 trillion) within the next three years to refinance, according to Bank of America Corp.
Link:
http://preview.bloomberg.com/news/2010-06-10/soros-says-we-have-just-entered-act-ii-of-crisis-as-europe-s-woes-spread.html
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