Category Archives: Global Economic Prediction

Eric Lefkofsky’s Career and Philanthropic Work

Eric Lefkofsky is an American entrepreneur born in 1969 in Detroit, Michigan. He is the co-founder and CEO of a technology company called Tempus. Tempus is one company which has strived to build the world’s largest library of clinical and molecular data and also an operating system to enable the data accessibility and usefulness. He is not only the co-founder of Tempus but also the founder and chairman of Groupon Company which is a global e-commerce marketplace. Eric Lefkofsky is also a co-founder of several other companies including; Mediaocean, an integrated media procurement technology provider and Echo Global Logistics(ECHO), which is a logistics and transportation outsourcing firm. He also co-founded Uptake, InnerWorkings(INWK), a promotional solution as well as managed print provider and Lightbank company, a Chicago-based venture capital firm. Lefkofsky’s net worth is valued to be $1.65 billion.

Eric Lefkofsky attended the University of Michigan where he graduated with honors, and after that, he received his Juris Doctor from Michigan University, Law School in the year 1993. It was at the University where he began his career as an entrepreneur by selling carpets.In his philanthropic work, Eric Lefkofsky has donated millions of dollars towards cancer research. His company, Tempus has been building infrastructure so as to modernize cancer treatment. Tempus Company offers a helping hand to healthcare professionals and doctors in making personalized, real-time and data-driven treatment solutions. His primary funding areas include healthcare, medical research, education, human rights, arts and also culture. Together with his wife, Liz Lefkofsky, they run the Lefkofsky Family Foundation to enhance lives in various communities. They founded this foundation in 2006, with a mission to support scientific, charitable, educational organizations and causes across the globe.

Liz and Eric have also supported several education initiatives in Chicago. They have supported education by giving charters to schools, offering scholarship programs and after-school programs for disadvantaged youths. Their foundation has partnered with Motorola Mobility Foundation and Google to create 1871 FEMtech. They created and supported 1871 FEMtech with more than half a million dollars with a mission to encourage and more so enable more women to venture into technology entrepreneurship.

Eric is the chairman of the Board of Trustees of Steppenwolf Theatre Company, Chicago. He is also a trustee of Lurie Children’s Hospital of Chicago and World Business Chicago. Eric Lefkofsky has 6,399 followers on Twitter and is active having had 749 tweets so far. He also has a Facebook page as Eric Lefkofsky where he has 1,046 likes on his page and 1,031 followers and via Twitter.

George Soros believes the slowdown in China will have a global impact

George Soros is currently the chairman of Soros Fund Management. He is famous for making $1 billion in 1992 when broke $10 billion worth of pounds to the Bank of England on http://www.nybooks.com/contributors/george-soros/. He was born in Budapest, Hungary in 1930 and fled to England after surviving the Nazi occupation during the World War II and Communist-dominated Hungary. He later settled in the U.S. where he accumulated a vast fortune through his investment fund. Refer to http://www.georgesoros.com/the-life-of-george-soros/.

George Soros believes that current markets are facing a crisis that is similar to what was experienced in 2008. According to him, what is happening China is not something to be ignored as the drive of China to find a new growth model and currency devaluation is leading to problems for the rest of the world? He believes that the developing countries have a challenge returning to positive interest rates a situation has similarities to what was experienced in 2008.

All indicators are proving George Soros allegations right as stocks, global currency, and commodity markets are under fire in the first week of January. The Chinese Yuan has been deteriorating at a high rate adding the woes to the China’s economy as the government moves the economy from manufacturing and investment towards consumer driven economy.

Soros believes China has a significant adjustment problem on http://www.cnbc.com/2016/04/12/soros-european-union-in-mortal-danger.html which based on the available economic data amounts to a crisis. What Chinese government is promising, for now, is to increase the Yuan’s convertibility by 2020 and remove the capital controls with time. George Soros is basing his claims on the effect of the China’s economic problems on U.S. stock index futures as indicated by a sharp decline as investors focused on the China’s economic slowdown. Refer to http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says.

China has been the biggest economic story of the world in the last 30 years with the economy being currently the second largest economy in the world. However, a stock market crash which started last summer has given a challenge to the People’s Bank of China. Analysts have also pinpointed concerns with the market regulators in China who they say have no clear picture of the market. This was after the market regulators issued new guidelines to restrict the numbers of shares significant shareholders in listed companies can sell to one percent in three months.

Soros has also criticized the decisions taken by the European Union that have led the currency into a crisis. Apart from predicting that the Euro is the verge of collapse, he says that the euro collapse would be very damaging both financially and politically with the biggest loss being accrued to Germany. According to Soros, Germans may not have suffered losses so far, but a break-up would lead to loans not being repaid while real losses will be incurred. Refer to http://www.georgesoros.com/essays/george_soros_on_the_euro_crisis/.

With a Billionaire like Soros trusted for his vast financial background, investors are choosing a wait and see approach which is the reason the stocks and investment growth is slowing down. According to Soros, his success in the financial market has given him a greater degree of independence that has made him take a stand on controversial issues.

In The United States Presidential Candidates Aren’t Talking About A Global Recession But Billionaire Investor George Soros Is

George Soros has a lot to say on Bloomberg about United States politics. He has been investing large amounts of money in liberal candidates for years. This year he’s backing Hillary Clinton, but Clinton and all the other candidates aren’t talking about the elephant in the political room, according to Soros. That elephant is the pending global recession that will certainly derail some of the plans of the next president.

Listening to the presidential candidates this year has been entertaining, annoying, senseless, and at times, ridiculous. They all talk about ISIS and Syria and a couple of them touch on the Ukraine issue. Climate change is another topic, but the fact that it is costing hundreds of billions of dollars, and is destabilizing other countries isn’t mentioned.

But the most avoided issue, even though the economy is one of the main concerns of voters, is the threat of a major global recession. Not one candidate has mentioned the fact that emerging markets have been battling recessionary forces for the last two years, but George Soros is talking about that fact. Soros recently express his views about the forthcoming global recession to Bloomberg.com.

During the Bloomberg.com interview, George Soros predicted that the world economic growth will fall below 2.5 percent in 2016. In 2017, growth will contract, and that’s not the kind of news politicians like to talk about. One reason they don’t discuss a recession is they don’t know what a recession is, and what it can do to a country that is experiencing one.

But Soros said that people should look and observe what is happening in Brazil to understand the economic devastation a recession causes. Brazil export business is down, their currency has lost 40 percent of its value over the last two years, and their government is being forced to inject billions of capital reserve dollars into their domestic economy. Soros also said unemployment is Brazil is pushing 10 percent and inflation is on the verge of breaking that 10 percent figure.

The recent tremors in the stock markets that erased more than $8 trillion from the books is one of the signs that a U.S. recession is brewing, according to Mr. Soros. Mr. Soros has successfully predicted past recessions with incredible accuracy. Even though other economists say the U.S. economy is still growing, Soros says that growth cycle is about to end. Global economic troubles are obvious, according to Soros.

The BRICS countries are in an economic mess. Russia, South Africa, Taiwan are in recession mode and the economies of India and Indonesia are slowing down. And the Japanese economy is already contracting, and it is on the doorstep of a deflation mode. When crude oil prices are added to the conversation, other South American countries join the recession list as well.