George Soros has made doom-and-gloom predictions for the
Soros recently released a new book in which he predicted impending financial doom. According to the New York Times profile of Soros published April 11 the economy is in “the biggest financial crisis of my lifetime.”
Soros’s lifetime includes the Great Depression – he was born in
The profile made it clear that while Soros has displayed genius as a hedge fund manager, his track record on economic predictions isn’t so impressive. “In 1998,” reported Louise Story for the Times, “he published a book predicting a global economic collapse that never came.”
Yet in spite of his faulty predictions and questionable market theories – the story mentioned that the “reflexivity” theory Soros has promoted for two decades “is still dismissed by many economists” – the Times still labeled him a “prophet” in its headline: “The Face of a Prophet.”
The profile painted Soros as a generous philanthropist. While he is a charitable man the Times only said how Soros has used his fortunes to further far-left causes in attempts to bring down President Bush as an afterthought in the profile.
“He donated $27 million to anti-Bush organizations and traveled the country speaking out against the president,” Story wrote in paragraph 28 of 32 paragraphs. “This time around, he is less involved. He endorsed Senator Barack Obama but kept his distance from the campaign trail.”
Even his most recent book blamed current problems with the housing and mortgage markets on the Bush administration according to the article.