Category Archives: Economic Crisis

Billionaire Investor George Soros Sends A Strong Message To The UK: Don’t Leave The European Union

Published / by WT23

The United Kingdom has been a vital part of the European economic community for more than 40 years. The UK is one of the more fiscally responsible members, and at times, one of the less tolerant. It’s no secret that the European Union is in trouble. The Greek debacle coupled with the overspending habits of country’s like Spain, Greece and Ireland has put a serious strain on the euro. The migration crisis shook the EU’s core last year, and the basic premise of open borders and an open society was thrown out the window by the nationalism that surface in several member states.

The UK has been arguing about leaving the EU for years, but this time, the argument has resulted in a national vote. The Brits get to decide if they want to leave the mess in the European Union, or they want to stay. Recent polls show 44 percent of UK’s population want to leave. Polls are not as accurate as they appear, but men like billionaire investor and Philanthropist George Soros and soccer star David Beckham are warning the people of the UK to vote to stay. The same poll showed that only 42 percent of UK voters want to stay, and 9 percent were undecided.

Read more:
Brexit wound: UK vote makes EU decline ‘practically irreversible’, Soros says

George Soros – Project Syndicate

George Soros is the man that broke the Bank of England in 1992 when he predicted and bet that the UK would have to devalue the pound sterling, so he is very familiar with UK economics. He is a graduate of the London School of Economics and is one of the wealthiest people on the planet. Soros recently put out a press release and according to USA Today, he urged the UK to stay in the EU. If the UK leaves the EU, the pound will depreciate by 20 percent almost immediately, according to Soros That means that one pound would be worth the same as one euro. And that’s just the begging of the damage. Economic trade will be greatly affected, and when that happens a recession that may rival the 2008 meltdown could be the next issue. George Soros believes another Black Wednesday scenario like the one 24 years could engulf the country if the vote to leave the EU is successful.

Prime Minister David Cameron is also urging people to think about the future of their children. Cameron is frustrated with the European Union, but he thinks the UK should stay and help sort out the mess. There is no doubt that a UK exit from the EU could be the final blow for the unstable Union. The 28-member EU is walking on egg shells thanks to terrorist and migration issues. There is a strong resurgence in nationalism in several member states, and closing borders is the special of the day in those countries.

Learn more about George Soros:

https://www.project-syndicate.org/commentary/brexit-eu-disintegration-inevitable-by-george-soros-2016-06

Toilet Paper Shortage In Venezuela: The Effects Of Skyrocketing Inflation Felt Across The Land

Published / by WT23

Venezuela’s inflation rate is staggering; the International Monetary Fund predicts it will reach almost 500 percent this year and over 1,000 percent next year. Effects of the severe economic crises according to expert Adrian Jose Velasquez Figueroa are the worst for everyday citizens; prices for staples such as bread and milk keep rising, with no end in sight. Hotels are asking guests to bring their own toilet paper and mothers can’t find any diapers in the stores. Basic needs go unfulfilled; cars sit abandoned because people cannot find any parts to repair them and leaky faucets drip because there are no washers in stores.
Velasquez Figueroa also said that Venezuela’s economic health depends on the price of oil, since oil accounts for 95 percent of the country’s exports. With oil prices remaining low and the country deep in debt, the Venezuelan government cannot afford to import goods.

The Americas Society and Council of the Americas will hold a discussion on April 25th, 2016 with economic experts to discuss the crisis. Anyone can register to listen to the live webcast for free.