Comments on: George Soros and the two choices facing Europe A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: traducere daneza Mon, 29 Sep 2014 13:56:29 +0000 I cling on to listening to the news update talk about getting free online grant applications so I have been looking around for the finest site to get one. Could you advise me please, where could i acquire some?

By: ACMurray Tue, 05 Jun 2012 21:33:16 +0000 What a load of codswallop. Running is nothing like falling over continuously in a certain direction. Stopping is very easy, unless you are not paying attention. Just like walking!

I’ve even seen you running, Felix. Well, sort of. And you were by no means falling

By: trevorh Tue, 05 Jun 2012 20:07:28 +0000 @KenG_CA

From what I understand and what seems to be clear, Soros is basically saying integration and unity in Europe is the main source of trouble. That is just flat wrong.

He blames the unity-project as the bubble.
It’s the bad fiscal discipline that is the bubble and the problem.

Krugman et al want more borrowing and diluting of money supply. Otherwise, their bankers cousins will run out of way to make money. This is the deadly bubble!!

By: KenG_CA Tue, 05 Jun 2012 18:16:18 +0000 Trevor, you’re not really saying anything different than what Soros said. However, the way you say it will only make people defensive, for nobody wants to hear that they are responsible for the problem, even if they are.

Rather than assigning blame, Soros chooses to identify problems that have to be rectified, and maybe people will respond. But if you call them liars and scammers and say they rip off people, they will not do anything you suggest, because they will be addressing the names you call them, rather than the problems they might be causing.

By: trevorh Tue, 05 Jun 2012 17:29:56 +0000 @KenG_CA

Very simple, people vote themselves benefits with their favourite politicians.

Financial sector creates all sorts of bubble, debt, scams, etc.. to inflate the economy so the politicians can temporarily fulfill their promises at the same time ripping off rich rewards.

Now is the time that the mess is so bad.
Simple logic: lie begets lie, you have to create scam and bubble to fulfill stupid promises.

It’s that simple.

I have a feeling that the time for China will come a lot faster than one expected, their leaders don’t have to pander to voters.

By: eris Tue, 05 Jun 2012 08:23:15 +0000 I honestly thought that the title of the video was
“Will Greece save Euro?”
And the answer is yes in both scenarios
1)In the Case of Grexit Ecb will inject huge amounts of liquidity into the sovereign markets and thus Eurobonds will defacto be created via Target 2.
2)If Greece stays this will mean that some kind of transfer union will be created, probably inolving debt writedowns, that will make the European union a plausible project and will avoid the tranfomation of southern Europe into dessert.

A bet I am willing to make with both of you, and I can cook wonderfull greek that goes well beyond tzatziki and mousaka.

By: MrRFox Tue, 05 Jun 2012 04:09:39 +0000 The bet is on what is going to happen, not what should happen to produce the least-bad outcome – so, either lad could be right; it’s a political guessing-game as they have set it up, not a “find the best outcome” contest. But let’s suppose the Euro pols are a little ahead of our two contestants, and look for something better than “kick Greece out” or “transfer union Uber Alles” – what might that be?

The single Euro currency was, we now know, “a bridge too far”. But two Euro currencies may not be. Don’t kick Greece out, but let it and the other weak use the existing Euro, and let the ECB do what it has to for them. The strong migrate to another currency – also administered by the ECB – which adopts a monetary policy appropriate for them. The single market remains intact in all other respects.

It’s the elegant solution because it recognizes two key facts – the solution must be comprehensive and include all the weak in a single stroke in order to succeed, not be confined just to Greece. And, everyone’s debts are denominated now in the existing Euro currency – this is really the crucial item.

I’ll be the utter fool (again) – and bet the Euro pols find the right (third) answer in time to avoid disaster, and both our chums then lose – to me. Make me a 50:1 “dog”, though.

By: BoringCanadian Tue, 05 Jun 2012 01:57:39 +0000 Link to the speech is broken – try this… at%20the%20Festival%20of%20Economics%2C% 20Trento%20Italy%20%7C%20George%20Soros. pdf

By: KenG_CA Tue, 05 Jun 2012 00:00:31 +0000 “I can’t think of a single example when difficult economic times led to the formation of bigger states or bigger integration in the past,”

Doly, not that I comparing present day Germany to the one of ~80 years ago, but they did have horrible economic times (far worse than what Greece is enduring now), and they did (at least temporarily) expand their empire. I don’t think it will happen again, mainly because Germany doesn’t want that headache.

I don’t think it will lead to disintegration, either, because that’s not in Germany’s or the weak nations’ best interests, and they know it. There will be a solution (most likely partial) that nobody will like, but it will be better than the alternative.

The ECB can print money, I don’t know why they just don’t go ahead and do that, and make loans to the troubled countries, at high interest rates, even if they know re-payment isn’t imminent. It’s better for Germany than having Germany loan them the money directly. And as long as the US is sustaining deficits, and China ties their currency to the dollar, they won’t suffer too bad.

Breakup is not an option, and neither is default.

By: Doly Mon, 04 Jun 2012 23:02:35 +0000 Felix, I’m with you on this one. Mostly for historical reasons: I can’t think of a single example when difficult economic times led to the formation of bigger states or bigger integration in the past, but there are many examples when they led to disintegration of empires, unions and federations. Why is it going to be any different this time?