George Soros And The Crash

George Soros And The Crash


R.E. Prindle


     Nathan Gardels’ interview of George Soros at

     Never have I heard so much gobbledegook from a so-called financial wizard.  Either Soros is not as intelligent and knowledgeable as he would have us believe or he is shining us on.  The latter, I should think.

     No, Soros well knows that ‘systems’ do not function independently of their operators.  Systems do what their operators will them to do.

     Soros says:

     The current situation is not just about the housing bubble.  The housing bubble was merely the trigger that detonated a much larger bubble.  That super bubble created by the ever increasing use of credit and debt leverage.

     Right on. Obvious from the start wasn’t it.  I hope Mr. Soros won’t be offended if I say a great many of us less well informed than he saw the disaster coming decades ago when we began receiving ten credit card solicitations in the mail along with another dozen requests to convert our home equity into cash.

     If we less well informed than Mr. Soros could see the end result of such practices a couple decades ago how is it that a super financial genius like Mr. Soros wasn’t there to warn us, nay, even insist that the banking institutions desist.  Where was Greenspan to use all his influence.

     We are informed that Paulson is a financial wizard of the stature of Mr. Soros yet Mr. Soros says of Paulson:

     US Treasury Secretary Henry Paulson…thought that six months after the Bear Stearns crisis the market would have adjusted…

     If Paulson is so well informed why would he think that?  Where was Mr. Soros to say:  Hank, I think the problem goes a little deeper than this.’  After all Soros and Paulson are both Israelis.  One assumes they speak the same language. 

     Oh, no, no.  We aren’t talking free market systems here we are talking market manipulation that began twenty-five years ago, at the minimum, with the unstated intent to bankrupt the system.  This purpose being to ‘prove’ that the world needs a totalitarian government under the control of one people to regulate every aspect of speech, thought and behavior.   The thinking is that is everything is absolutely controlled nothing can go wrong.  The Brooklyn Bridge is still unsold Mr. Soros.

     Thinking us lacking that extra intelligence gene Mr. Soros winds up his interview with:

     For the last twenty-five years, we (who is this ‘we’, Mr. Soros?) have been running a constant current account deficit. 

     Why would that be Mr. Soros?  Because you and ‘our’ government shipped our economy overseas so that we had to buy everything from abroad.  Was it because our prices of items essential to the Middle East and China were kept depressed while theirs were allowed to inflate that the problem was exacerbated?  I think so, Mr. Soros.  Who was responsible for that?  Not ‘us.’

     If you do have that extra intelligence gene you’re sure not employing it for ‘our’ benefit.

     Get straight, Soros.  Tell it like it is.



4 comments on “George Soros And The Crash

  1. I recently featured Fareed Zakaria’s interview of Soros is and interesting discussion of how bubbles form out of misconceptions and how reality sets in and bursts and crashes bubbles.

    Unlike other critics like Peter Schiff and Jim Rogers, Soros favors government intervention to regulate markets since he doesn’t believe in the “self-correction to equilibrium” notion of markets.

    Soros’ skeptical approach to human prediction of markets is similar to Nassim Taleb’s ideas that history is inherently a fallacy and any prediction based on past data is imperfect at best.

  2. Mark: Thanks for your comments. I took my degree in history and have kept up my interest since.

    As you describe the Black Swan notion of causation I would have to say that any of my class would have been thrown out of graduate school for proposing it. It’s nonsense.

    If you are interested in history may I suggest Arnold Toynbee’s A Study Of History (12 vols.) and Edward Gibbon’s Decline And Fall Of The Roman Empire. They’re long but worth it.

    I notice a current tendency to jimmy with the idea and validity of history which I find disconcerting. While those who say that history is not a guide to the present or future they are either sectarians wishing to deny facts at best, or at worst, uninformed and ignorant.

    Merely the laws of cause and effect will produce possible future results. As Soros says: You know the results it’s just difficult to predict when and what course they will take. Wars do not come as surprises to the informed. WWI could have been and was predicted. The resultant Peace Conference guaranteed a future war which virtually everyone saw. H.G. Wells even gave an accurate prediction: 1940. So the Black Swan thing is cute but inappropriate to true history.

    Further conspirators work to bring their goals to fruition and this especially includes George Soros. The current financial difficulties were predicted the day FDR introduced Keynsian deficit spending. The only surpise is that it has taken so long. But, if one truly didn’t see it coming that person should never have given the vote.

    Black Swan? Nah.

  3. You may appreciate a post I have up about Soros. It juxtaposes his background with Rupert Murdoch’s empire.

  4. You have a very nice article on Soros which I read with interest. In commenting I would say that whenever I hear the word ‘offshore’ rightly or wrongly the word ‘crooked’ enters my mind. So Soros’ offshore activities are not a recommendation to me.

    And then I notice that Soros makes his billions by betting on disasters occurring. Once again disasters are easier to engineer than successes. Being so right for so much money so many times raises a red flag for me. Of course, I make no accusations.

    And the on the show I watched I noticed that Soros said ‘we’ are going to throw money at this recession until it goes away. And then I learn that by ‘we’ he means the American taxpayer while he continues to make his billions betting on disasters. I’m sure he will make several billion on the oil spill.

    As to Beck, he claims to be conservative and he has a job. That is a contradiction in terms. On the ‘Faux’ network. He could only have it if he has been vetted as safe by the powers that be whoever they may be. Perhaps George Soros is among them.

    Thus his task is to be ridiculous and hence discredit all conservatives as ridiculous. I consider him one of yours. Still I was pleased to be introduced to the two sites. I will be checking in from time to time.

    Have a nice day.

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