Posts Tagged ‘ Business News ’

George Soros: US Banking System “Basically Insolvent”

George Soros

U.S. economy is in for a “lasting slowdown” and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday. Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into “zombies” that draw the lifeblood of the economy, prolonging the economic slowdown. Read the whole story: CNBC

Naomi Klein Debunks Bush’s Offshore Drilling Plan

Watch as Naomi Klein, author of The Shock Doctrine: The Rise of Disaster Capitalism, debunks President Bush’s offshore drilling plan on Fox News. To read blogs from Klein go here. To read more about her book go here.