George Soros Calls Donald Trump Would Be Dictator
- Author: Sonia Alvarado Jan 22, 2017,
Jan 22, 2017, 0:50
American billionaire George Soros has predicted that US President-elect Donald Trump is a "would-be dictator" who will fail, and UK Prime Minister Theresa May will not remain in power following Brexit. The newspaper said that some of Soros's personal positions lost almost $1 billion as the market rallied sharply in the wake of Trump's November 8 presidential election win, though the broader portfolio held by his firm, Soros Fund Management, performed better.
"He would be dictator if he could get away with it but he won't be able to", Mr Soros said in an interview with Bloomberg Television.
"I personally have confidence that he's going to fail, because his ideas that guide him are inherently self-contradictory", Soros said, predicting that financial markets would suffer in the long-term despite reaching record highs since his victory over Hillary Clinton.
Former travel salesman Mr Soros also told business leaders and journalists in Davos that he expected financial markets to "not do very well" because of the uncertainty surrounding the Trump administration.
When the subject of global trade and worldwide relations was brought up Soros says that he believes that China will see great help from Trump.
Asked later whether he envisioned a trade was between China and US, Soros said Trump is "gearing up for a trade war", despite that being irreconcilable with economic prosperity.
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The US billionaire said Trump will act as a divisive figure because "anyone who disagrees with him is not really part of the people". Because of Trump's calls to ban Muslims from entering the country, Soros said that "Donald Trump is doing the work of ISIS".
"I think she will not last".
So George Soros thinks that this will lead to a reversal of the Brexit saying, "The divorce is going to take a very long time". Saying the United Kingdom populace was "in denial", he said that when the economic situation worsens then the people of the United Kingdom will change their attitudes and even suggested that the United Kingdom could easily rejoin the European Union without Prime Minister May in charge.
"The current economic situation is not as bad as was predicted and they live in hope".
"But as the currency depreciates, inflation will be the driving force that leads to the decline in living standards".
"It's going to take some time but when it does happen, they will realise that they are earning less than before, because wages won't rise as fast as the cost of living".