George Soros Warns The U.S. Economy Under Trump Is Headed For Peril

George Soros Warns The U.S. Economy Under Trump Is Headed For Peril

Jim Rogers George Soros
Liberal billionaire investor George Soros is concerned that President Donald Trump’s administration has overheated an already buoyant economy. George Soros, founder and chairman of the Open Society Foundations listens to the conference after his speech entitled “How to save the European Union” as he attends the European Council On Foreign Relations Annual Council Meeting in Paris, Tuesday, May 29, 2018. Image: AP Photo/Francois Mori

The U.S. economy could be headed for a disaster as a result of President Donald Trump’s pro-business approach and stock prices ahead of the 2020 general elections, according to liberal billionaire investor George Soros.

Soros, an 89-year-old Democratic megadonor, was talking to guests in January at an informal dinner at the World Economic Forum meeting in Davos — known for featuring elite business and political leaders — in the Swiss Alps.

“The stock market, already celebrating Trump’s military success, is breaking out to reach new heights,” Soros said. “But an overheated economy cannot be kept boiling for too long. If all this had happened closer to the elections, it would have assured his re-election”

His remarks came after a heel of fresh record highs in the U.S. stock market. The surge is accredited to the Trump administration’s policies, according to economists.

Soros is known on Wall Street for his trading prowess and a $1 billion bet against the British pound that saw him and Stanley Druckenmiller record a big win in an event known as Black Wednesday in 1992.

Although the Investor has been saying for years that he is retired, he is known to make occasional bets and he also helped his firm through the financial crisis.

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Soros said that he thinks Trump is a narcissist and a con man who wants the world to revolve around him.

“When his fantasy to become president became a reality,” the narcissism dialed up, Soros said. “This has turned his narcissism into a malignant disease.”