Wanna bet against Buffet and Soros? Go ahead. Stupider things have been done. Maybe.
Soros: U.S. recession may occur in '07
Billionaire investor George Soros said Monday the Federal Reserve might overshoot in its bid to tighten monetary policy, deflating housing prices and tipping the economy into recession in 2007.
A collapse in U.S. housing prices could be associated with a dollar decline, scuppering the Fed's attempt to engineer a "soft-landing" for the economy, Soros told an audience at the Singapore Institute of International Affairs.
"If housing continues to cool while rates are slowing then it could turn into a hard landing," Soros said. "That's why I expect a recession to happen in 2007, not 2006."
January 10, 2006
Posted by blogger at 1/10/2006