Soros' book - changing in paradigm?

George Soros has written his new book about the economy crisis, its title: The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means. According to his words, United States have to face the most difficult economy decline since 1930. In addition, the U.S economy is threatened by a self-strengthening deteriortive turmoil.

Here are some lines from the book:

"The United States is facing both a recession and a flight from the dollar. The decline in housing prices, the weight of accumulated household debt, and the losses and uncertainties in the banking system threaten to push the economy into a self-reinforcing decline.

Measures to combat this threat increase the supply of dollars. At the same time, the flight from the dollar has set up inflationary pressures through higher energy, commodity, and food prices.
The European Central Bank, whose mission is to maintain price stability, is reluctant to lower interest rates.

This has created a discord between U.S. and E.U. monetary policy and put upward pressure on the euro. The euro has appreciated more than the renminbi, creating trade tension between Europe and China.

The renminbi can be expected to catch up with the euro both to avoid prote ctionism in the United States and increasingly in Europe, and to contain imported price inflation in China. This will, in turn, increase prices at Wal-Mart and put additional pressure on the already beleaguered U.S. consumer.

Unfortunately this administration shows no understanding of the predicament in which it finds itself."

Soros, the legendary financier, philanthropist based his crisis theory on his highly experienced business-view ability.

I haven't read this book yet, but i look forward to take it in my hands, and contemplate his words, because i have got stern doubt this could be cause the biggest recession. We mustn't forget that this situation, the present circumstances are not up to the same economy environment, banking characterism, global financial and pecuniary system than that time.

With all due defferenc to his speculative arguments, I want to read it before product a mindless standpoint.