Billionaire George Soros on Thursday delivered a scathing assessment of Donald Trump, calling the US President-elect a “would-be-dictator” who is “going to fail”.
On the eve of Trump’s inauguration in Washington, Soros said Trump was “gearing up for a trade war” which would have “a very far reaching effect in Europe and other parts of the world”.
The “would-be-dictator… didn’t expect to win, he was surprised,” the Hungarian-born financier told an audience of business leaders and journalists at a Hotel in Davos where the World Economic Forum is being held.
“I personally have confidence that he’s going to fail… because his ideas, that guide him are inherently self-contradictory,” said Soros, adding that members of Trump’s cabinet are each fighting for different interests.
But he predicted the loss of the US’ “positive influence in the world in favour of an open society”, which would have “a very far reaching effect in Europe and other parts of the world”.
Soros, who was a supporter of Trump’s Democratic rival Hillary Clinton during last year’s campaign, lost nearly a billion dollars as a consequence of the rally prompted by Trump’s surprise election victory, according to press reports.
But the positive reaction in financial markets would not last long, Soros predicted, because ultimately they do not like uncertainty.
US stocks retreated and the dollar fell against most currencies Thursday in the final session before Trump’s inauguration on Friday.
On Brexit and Theresa May, Soros predicted the British Prime Minister’s spell in power would not last long and said the UK population were “in denial” about the financial consequences of leaving the European Union.
“It’s unlikely that Prime Minister May is actually going to remain in power,” he said.
“At the moment people in the UK are in denial. The current economic situation is not as bad as it was predicted, they live in hope, but as the currency depreciates, and inflation will be the driving force, that will lead to declining 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.”
MSNBC’s Donny Deutsch shreds ‘pathetic circus figure’ Rudy Giuliani
MSNBC's Donny Deutsch shredded Rudy Giuliani as a "pathetic" clown for continuing to trade out what was left of his reputation to serve President Donald Trump.
Giuliani dismissed special counsel Robert Mueller's upcoming congressional testimony, scheduled for July 17, as "totally useless," and "Morning Joe" host Joe Scarborough raked him over the coals.
"It's hard to believe this man ever ran a city like New York, let alone the fact that many people like myself consider him to be a very effect effective mayor," Scarborough said. "It's just a cynical, cynical, stupid thing for Rudy Giuliani to say."
Democratic debate night is here – and Twitter predictions have begun
The first night of the Democratic debate has arrived and we've scoured Twitter to find you the headlines you can't afford to miss.
Will Elizabeth Warren maintain her double-digit status? Can Joe Biden overcome the generational issues and missteps he's come to be know on the campaign trail thus far? Will Rachel Maddow prevail as top moderator considering there's a Chuck Todd type (it's actually him) in the room? All of this and more remains to be seen - but first:
These are moderators for the #DemDebate:
Joe Biden’s ‘Jim Crow moment’ was dreadful — but he may be Democrats’ best shot at beating Trump
The Democratic Party's presidential nomination and the White House are Joe Biden's to win — unless he sabotages himself.
Last Tuesday while speaking at a fundraising speech in New York, Biden reflected on his early career in the Senate, working alongside Sen. James Eastland of Mississippi and and Sen. Herman Talmadge of Georgia, a pair of old-line segregationists:
I was in a caucus with James O. Eastland. He never called me 'boy,' he always called me 'son.' Well guess what? At least there was some civility. We got things done. We didn't agree on much of anything. We got things done. We got it finished. But today, you look at the other side and you're the enemy. Not the opposition, the enemy. We don't talk to each other anymore.