The Great Recession of 2008 took a major toll on people around the world. Investors lost billions of dollars, and middle-class people lost their life savings. George Soros the liberal political supporter and successful hedge fund investor lost money, but he recovered. His net worth is more than $27 billion. With that kind of money, it’s no wonder that Soros supports candidates that support what he believes. He is a gracious humanitarian and international human rights activist that believes in open societies and freedom of speech. Soros has invested millions in the Hillary Clinton campaign based on her views on the topics Soros is vested in.
According to politico.com, the beginning of the 2015 campaign Clinton looked like a shoe-in for the Democratic nomination. With Soros and other large donors behind her she had enough money to bury Bernie Sanders in Vermont maple syrup. But her campaign started to deteriorate when her email issue wouldn’t go away, and her big donor support group was exposed. Soros is not one of those donors that give money for political favors, however. His intentions were to give Clinton the ammunition she needed to make a humanitarian statement to the world. But Clinton got caught in her own web, and Sanders has risen from the syrupy ashes.
One of the main issues that Soros is speaking out about is the looming recession that is hanging over the 2016 elections. Recently, Mr. Soros was the topic of a Politico.com article that talked about his campaign donations past and present, and how he is making a difference by establishing foundations in other countries around the world. But Soros has taken a little time off from his foundation work to tell the world about a global recession that is banging on the United States economic door. When that recession breaks through that door, the weak growth cycle that the U.S. is enjoying now will disappear.
Mr. Soros believes the United States economy will begin to contract in July 2016, and by the end of the year economic growth will be flat. Most Americans don’t expect another disastrous recession. After all, the mortgage issue is gone, and the economy is strong. But Soros says the economy isn’t strong. It’s weak. GDP growth has been averaging 2.1 percent a year for the last four years. Before the 2008 recession, the GDP growth was more than 4.1 percent.
The point that Soros and other economists are trying to make is, there should be more talk about this new recession. Candidates should be discussing a global recession since the state of the economy is always an election issue. But the candidates are quiet about a global recession. They know they can’t talk about it and still get elected. Learn more about his profile at Forbes.com.