George Soros:Humpty Dumpty cannot be put together again

Retail investors, politicians and bureaucrats aren’t the only ones speculating on the likelihood of another financial market crash. They’re in good company as billionaire hedge fund manager George Soros has recently weighed in on the subject. In his latest book, Soros discussed the handling of the 2008 financial crisis and drew attention to the handling of the crisis by the major countries involved, particularly the U.S. Regarding the bailouts he said, “These measures have been successful, and the global economy appears to be stabilizing. There is a growing belief that the global financial system has once again escaped collapse and we are slowly returning to business as usual.”

Soros then drops the bomb on this assumption as he offers his opinion: “This is a grave misinterpretation of the current situation. Humpty Dumpty cannot be put together again.”

Elsewhere in the book Soros writes, “I regret to tell you that the recovery is liable to run out of steam and may even be followed by a ‘double dip,’ although I am not sure whether it will occur in 2010 or 2011.” Yet on the same page Soros also admits that “Others – including me – failed to anticipate the extent of the rebound.”