Comments on: George Soros’ advice for the euro zone http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/ Sun, 28 Jul 2013 14:34:09 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: JMaitlandCarter http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2301 Fri, 25 Nov 2011 12:03:43 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2301 Soros is obviously a genius. What seems missing is a world view that includes noblesse oblige.

As much as everyone disliked Berlousconi I respected that he was a cross-over from the wealthy elite who wielded political power, and the problems that go with it.

I don’t think the answer is to shoot the rich, or the poor of the world. For social order the wealth has to be employed so that society functions and a “food chain” feeds each level of the economic strata.

The comments show a real spectrum of understanding of the issues.

So what to do with defaulting sovereign debts and the possible revolutions that go with it?

No prospects, no money, no jobs, and no hope.

I thought it telling that the Bank of Greece still holds gold bullion, why not use that to buy wheat for bread?
I think the Argentina analogy is a good one and valid here to a default scenario.

A New York cabbie told me in 2008 that the problem is interest on the money, that we should use the Sharia concept of no interest. I saw his point but how could the banking system work without interest?

It may be best if, in order to preserve capital, soft loans were given to “band-aid” over this turmoil. It is a compromise, but are we really ready for the social chaos that a huge crisis would create?

We need capital but it is a master without mercy.
I suggest that the real masters of wealth consider preserving the world. Does humanity work for capital or does capital serve humanity? We are all in together.

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By: Gillyp http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2276 Tue, 15 Nov 2011 16:19:32 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2276 Europe needs real work where we manufacture and grow crops, all we have now are false jobs creating rules and training programs and putting ever more obstacles in the way of business…get the jobs back from BRIC, and let the bankrupt default buying more of their bad debt is a recipe for future failure.

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By: Collipops http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2274 Mon, 14 Nov 2011 22:00:38 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2274 If he’s so pessimistic about the outcome he dare not speak of it. That doesn’t make a “Europeans could use a little cheering up this week” kind of article.

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By: Talleyrand02 http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2273 Mon, 14 Nov 2011 13:48:28 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2273 Where were all these naysayers 4 years ago??? Whenever anyone back then would say the markets seem overleveraged, and how come everyone is buying homes in the US, they were acccused of being gloom-and-doomers.

Well, we were right, and while it doesn’t help my broken business, it does feel good to have been right over all these business experts.

Soros is OK…. those of yoou who rant at him and repeat the claptrap of Mr Beck, please go do some of your own thinking rather than parrot the erstwhile Fox fool.

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By: southernsword http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2272 Sun, 13 Nov 2011 23:14:43 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2272 As long as there are Eurozone countries headed by government leaders like Papandreou and Berlousconi, the euro project will be at risk.

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By: Anonymous http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2267 Sat, 12 Nov 2011 21:21:18 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2267 Isn’t Sorus solution of having Europe’s banks hold their liquidity in US tresuries flawed? I thought T-bills were actually US debt, which have become considered the equlivent of cash these days because of course the US would never default on it’s debt. Wouldn’t Sorus idea just create more risk for the US because it increases our exposure to the chaos in Europe as countries one by one default on debt that was “considered as good as cash.” I’m very new to economics so would somebody exlain this to me?

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By: trevorh http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2266 Sat, 12 Nov 2011 19:12:58 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2266 As much as I don’t like Soros and the way he made money (by having other people to lose a lot for him to win), I have to moderate my view when I sense his view and see that his family had a greater vision than his group. If it’s true that they truly value the essence of Esperanto and share the vision that it has instead of our current petty groupy difference that have caused so many conflicts, then he has all the support I can give. If it’s true that he is not attacking the EU, and he sincerely shares the vision of his father then he should be respected.

Unlike Johnson, who is now on a trip of ‘cultural diversity’. Johnson and his backers are so short-sighted.
Diversity as the way they see it is a dangerous concept, it’s static diversity that causes difference in people, it creates pockets of differences, these differences lead to innate differences, innate abilities and eventually in ability to accumulate wealth.

You cannot complain about the gap between the rich and poor when people’s abilities become so diverse, so different. Most rich people are smarter (insert other abilities) and will get rich no matter what, the opposite can be said about poor people.

When you endorse diversity that will eventually lead to people that are so different, coupling with differences in wealth, in appearances, belief, in resources they possess. Hardship, jealousy and petty tribalistic groupy pride (root of racism is group/tribal/national/race pride currently fostered by 2 mains groups both think they are the center of the universe) will kick in and there will always be deadly conflict. In this era of weapon that is so destructive, there might not even be any left for a post war rebuild. And even if they can somehow artificially maintain peace and ‘diversity’ for some time, it will break out at some point later. This is even more dangerous, since later weapon will be even more destructive.

I might be thinking too much, but it’s just sad to see Johnson and his backers, his lobby gangs fighting us tooth and nail for their short-sighted vision. I give up, it’s other people’s problem now.

Please remember, diversity is inherited, but it is also created (in fact, it has to be created first before it can be inherited). There will be time when we need to throw away ideas that are too primitive and outdated, ideas that no longer suite us as we move forward. A united world is not that bad.

Everything that has a beginning, has and end. If you don’t regress toward the mean at all, you are creating a bigger gap. If you don’t change, you will perish.

I hope EU doesn’t disintegrate, it will take a long time, it will be slow but it’s the right direction.

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By: Gordon2352 http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2265 Sat, 12 Nov 2011 19:11:06 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2265 You state, “Soros’s plan is essentially a way to get around Europe’s fundamental economic flaw — it has a single currency, but no lender of last resort: “It’s a trick, but a trick that would work.””

I say, yet another cheap trick to get around banking legislation is the last thing this global economy needs.

How about some honesty for a change?

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By: GLK http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2264 Sat, 12 Nov 2011 14:19:39 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2264 I would like the financial pundits to explain what they think the potential collapse of the Euro means to the American Dollar? It seems to me the Euro was the only currency that posed a threat to Dollar. With the Euro out of the way I would think it would provide a tremendous boost to the value of the Dollar cementing its position as the World’s preeminent currency.

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By: Discovery451 http://blogs.reuters.com/chrystia-freeland/2011/11/11/george-soros-advice-for-the-euro-zone/#comment-2262 Sat, 12 Nov 2011 11:20:58 +0000 http://blogs.reuters.com/chrystia-freeland/?p=1392#comment-2262 What surprises me is how Spain hasn’t blown up yet. The real estate bubble there was huge and unemployment is very high. Some banks had to take huge losses when the real estate bubble burst. Where is it hiding?

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