I was listening to George Soros give a speech on sovereign debt around noon

[Narmer]

It was at the university. He lambasted Germany for reigning in spending and cutting their debt. He said that while it's a good idea in the long run, now isn't the time. He said Germany should follow America's lead in increasing spending. Soros also lambasted the European Central Bank for focusing too much on inflation and not enough on deflation. I wondered when is a good time because when you start raising taxes or cutting spending, everyone across starts howling, from wall street to main street. It seems like no one likes to let go of that sweet, sweet government money that seems to hold the economy together. I was thinking that perhaps if the United States had gone through two hyperinflationary periods and wars associated with them we would be of the same mind as the Germans.

 

[Hayabusa Rider]

It's rather odd that we are trying to out European the Europeans. Obama went to the recent summit trying to get them to spend spend spend, when they had decided that's what got them into the mess and they needed to reel it in a bit. They didn't bite.

 

[theeedude]

I bet the Germans would like us to keep spending though, would be a lot fewer BMWs sold if banks didn't get bailed out.

 

[kranky]

Anything Soros says is designed to benefit Soros.

 

[animekenji]

George Soros is the devil.

 

[Narmer]

I bet the Germans would like us to keep spending though, would be a lot fewer BMWs sold if banks didn't get bailed out.

Yeah, and our government is doing exactly that. It seems like the Germans are in a perfect situation. The Japanese are struggling. Emerging countries are snapping up their industrial and luxury products. Their Euro partners are struggling, lowering the value of the Euro. This makes their exports cheaper. And America wants to continue spending by bailing out everyone. They can't lose.

 

[JSt0rm]

most economists will tell you whats good for your personal finances arent good for the country as a whole. I know this is counter intuitive but thats why you all aren't making fiscal policy.

 

[juiio]

Soros still drinks the Keynesian Kool-aid, so it shouldn't be a surprise that he said those things.

 

[werepossum]

most economists will tell you whats good for your personal finances arent good for the country as a whole. I know this is counter intuitive but thats why you all aren't making fiscal policy.

Wow, that explains why I am deep in debt and the government isn't - oh, wait.

Let the economists predict the weather and the meteorologists predict and control the economy and nobody could tell the difference - except maybe that the meteorologists practice a harder science and probably wouldn't screw things up. Not that those making fiscal policy haven't been doing a bang-up job . . .

 

[animekenji]

Ludwig Von Mises and Murray Rothbard were right.

 

[Narmer]

most economists will tell you whats good for your personal finances arent good for the country as a whole. I know this is counter intuitive but thats why you all aren't making fiscal policy.

I didn't realize there was someone making fiscal policy
He did say that fiscal policy has become too politicized. In other news, water is wet.

 

[BoberFett]

LOL. Soros.

 

[BoberFett]

most economists will tell you whats good for your personal finances arent good for the country as a whole. I know this is counter intuitive but thats why you all aren't making fiscal policy.

Yes, because prevailing fiscal policy is doing wonders for our economy. Just look at it flourish!

/facepalm

 

[Moonbeam]

He knows nothing at all about money and that's why he's poor. You rich folk who post here, however, can be trusted to know everything there is to know about finance. Love listening to the trained morons who post here.

 

[bamacre]

He knows nothing at all about money and that's why he's poor. You rich folk who post here, however, can be trusted to know everything there is to know about finance. Love listening to the trained morons who post here.

http://en.wikipedia.org/wiki/Quantum_Fund

http://en.wikipedia.org/wiki/Jim_Rogers

 

[Craig234]

Anything Soros says is designed to benefit Soros.

Evidence?

 

[Craig234]

Ludwig Von Mises and Murray Rothbard were right.

Wrong, cultist. Keynes, Galbraith, Krugman, Samuelson. They have been right.

 

[RedChief]

Anything Soros says is designed to benefit Soros.

mod this up.

 

[BoberFett]

Wrong, cultist. Keynes, Galbraith, Krugman, Samuelson. They have been right.

Keynes and his ideas that have been followed for the past 50 years are truly showing their fruit right now.

LOL at Craig calling anybody else a cultist. Craig, you are the ultimate nuthugger.

 

[sandorski]

Soros is correct. Sorry.

 

[soccerballtux]

He knows nothing at all about money and that's why he's poor. You rich folk who post here, however, can be trusted to know everything there is to know about finance. Love listening to the trained morons who post here.

I'm not rich....

 

[soccerballtux]

Wrong, cultist. Keynes, Galbraith, Krugman, Samuelson. They have been right.

Krugman is too chummy with his liberal friends to be taken seriously, you know that.

 

[ElFenix]

I bet the Germans would like us to keep spending though, would be a lot fewer BMWs sold if banks didn't get bailed out.

US economy in the shitter and the 3 series will close in on 100,000 sold this year.

we're just collectively retarded.

 

[Fear No Evil]

Here's an idea.. take 99.99% of Soros' money and spend it.. thats stimulus!

 

[Jhhnn]

Yes, because prevailing fiscal policy is doing wonders for our economy. Just look at it flourish!

/facepalm

What we're experiencing are the consequences, the aftermath of failed republican policy from Reagan forward.

Current policy, the policy of the Obama Admin, isn't enough different to create a turnaround in the fortunes of middle class people.

For that, we'll need a modernized version of the New Deal. Given the denial of righties and the delusions of so-called libertarians, things will have to get worse before they can get better, to break the cycle of denial. And they will.