George Soros On Current Collapse

I was waiting for the current market correction all 2015, looks like I was out by a month or so (don't worry, I don't try to predict the market, I just get on with things and have this idea in the back of my head). The current problem is just 2008 revisited, read about George Soros and what he thinks...

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Speaking at an economic forum in Sri Lanka's capital, Colombo, he told an audience that China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, according to media. He added that a return to rising interest rates was proving difficult for the developing world.

The current environment reminded him of the "crisis we had in 2008," The Sunday Times in Sri Lanka reported on Thursday morning. "China has a major adjustment problem," he added, according to Bloomberg. "I would say it amounts to a crisis."

China is going to fall apart. It's a case of when not if. For the rest of the world that's a real problem as China makes so much of the shit we now consume. But the problems don't end there, government has propped up failing industries and prevented bargain hunters from picking over the spoils.

What we now have, throughout the OECD, is a form of state capitalism much like the USSR form of socialism. Yes, you heard that right. Big government decides who succeeds, some are too big to fail (General Motors) and main street small business gets screwed.

2016 is going to be the year of the stock picker. To succeed as an investor, it's going to be necessary to pick the companies that will do well, and my pick is only the most boring and old-fashioned are any good. Businesses that are relatively cheap, ignored for the most part, not considered at all 'sexy.' Anything even remotely speculative or fly-by-night will be duds.