Earlier this week, I did a blog entry on those who were able to predict the financial apocalypse now upon us.

You can add financier George Soros. As John Cassidy suggests in the New York Review of Books, the forecasts are quite eerie. Years before the implosion, Soros wrote: "Eventually, the US government will have to use taxpayers' money to arrest the decline in house prices. Until it does, the decline will be self-reinforcing, with people walking away from homes in which they have negative equity and more and more financial institutions becoming insolvent, thus reinforcing both the recession and the flight from the dollar. The Bush administration and most economic forecasters do not understand that markets can be self-reinforcing on the downside as well as the upside. They are waiting for the housing market to find a bottom on its own, but it is further away than they think."

The accuracy of his prediction is quite disconcerting. This is the man who made millions placing his bets after reading the financial omens. His observations offer plenty to ponder.