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.”
Award-winning broadcaster Cokie Roberts dies at 75
Veteran broadcaster Cokie Roberts has died at the age of 75 due to complications from breast cancer.
Roberts joined NPR in 1978 before moving to ABC News, and she won three Emmy Awards and was inducted into the Broadcasting and Cable Hall of Fame and was cited by the American Women in Radio and Television as one of the 50 greatest women in the history of broadcasting.
"She was a true pioneer for women in journalism," said James Goldston, president of ABC News, "well-regarded for her insightful analysis of politics and policy in Washington, D.C., countless newsmaking interviews, and, notably, her unwavering support for generations of young women — and men — who would follow in her footsteps."
Here’s what it would really take to impeach Brett Kavanaugh
President Donald Trump isn’t the only Republican who some Democrats in Congress are talking about impeaching: Rep. Ayanna Pressley of Massachusetts is among the Democrats who is calling for the impeachment of Justice Brett Kavanaugh. But Sen. Dick Durban isn’t one of them. The Illinois Democrat has forcefully stated that trying to impeach Kavanaugh would be a waste of time for his party, and he’s right. The bar for impeaching a U.S. Supreme Court justice is incredibly high — especially when far-right Republicans, led by Senate Majority Leader Mitch McConnell, a.k.a. Moscow Mitch, still have a majority in the U.S. Senate.
Naomi Klein: The climate crisis demands radical change — and paper straws are just a distraction
Renowned climate activist and author Naomi Klein says responses to the climate crisis have for too long focused on individual consumer choices rather than the collective action needed to save the planet. In a new video for The Intercept, Klein argues, “So many environmental responses have just been minor tweaks to an economy based on endless consumption — take your electric car to the drive-through for an Impossible Burger and a Coke with a paper straw. Of course it’s better than the alternative. But it’s nowhere close to the depth of change required if we hope to actually pull our planet back from the brink.” Klein joins us for the hour to discuss her new book, “On Fire: The (Burning) Case for a Green New Deal.”