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Soros: US Banking System Is “Basically Bankrupt”

By Ilene
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Soros: US Banking System Is "Basically Bankrupt"

george soros profile tbiCourtesy of Henry Blodget at Clusterstock

A trio of bears weighed in today.  It’s hard to argue with any of them.

  • Soros says our banking system is "basically bankrupt" and consumers have debt coming out of their ears. 
  • Roubini thinks the market is discounting a "v-shaped" recovery and will therefore be disappointed with a "U"
  • Robert Prechter (Elliott Wave guru) says the bear market resumed in September.  Prechter, of course, is predicting a full blown Depression.

See Also:

 
Nouriel Roubini

Bob Prechter: Quite Sure Market Will Crash And Break March Low

Happy Analysts See A V-Shaped Earnings Recovery…And A Return To Record Profit Margins

Roubini: Stocks Will Tank When The Recovery Comes In Weak

 

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