Soros: US Banking System Is "Basically Bankrupt"

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

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