Soros Says Markets to Slump With Trump, EU Faces Disintegration

[WhiteTara]

https://www.bloomberg.com/news/articles/2017-01-19/george-soros-says-markets-will-falter-as-uncertainty-takes-over

It’s tough to be gloomier than billionaire George Soros right now.

America has elected a would-be dictator as president, the European Union is disintegrating, U.K. Prime Minister Theresa May won’t last long as her nation prepares to secede from the EU, and China is poised to become an even more repressive society, the investor told Bloomberg Television’s Francine Lacqua from the World Economic Forum in Davos.

“It is unlikely that Prime Minister May is actually going to remain in power,” Soros said. She has a divided cabinet and base and Britons are in denial about the economic impact of Brexit, he said.

On Tuesday May, who took office in July after the U.K. voted to leave the EU, set out her strategy for a clean break from the 28-nation trade bloc and pitched the nation as open to making free trade deals globally.

Soros had particularly harsh words for U.S. President-elect Donald Trump, who will be inaugurated on Friday. Calling Trump a “con man,” Soros said the billionaire will fail because his ideas are contradictory and his White House advisers and cabinet members will fight with each other, an apparent reference to the conflicting views expressed during Senate confirmation hearings. The stock market rally since the November election, spurred by Trump’s promises to slash regulations and boost spending, will come to a halt, Soros said.

[FSogol]

1. Trump "will fail because his ideas are contradictory & his advisers & cabinet will fight"

I just said the same thing to my boss, who is of the opinion, it might be good for business.