George Soros And The Crash
Nathan Gardels’ interview of George Soros at http://huffingtonpost.com/nathan-gardels/soros-end-of-financial-cr_b_134008.html.
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.
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.