Comments on: Live blogging George Soros interview

By: Bob Hullinghorst

Bob Hullinghorst — Sat, 12 Sep 2009 19:38:34 +0000

Soros as a socialist? Balderdash! He is the ultimate realist who has written extensively in an attempt to educate those willing to listen about how to attempt to avoid what happened after September 15.

What we have seen is a classic scenero described by Soros: the increase in systemic risk accompanied by increasing opportunities for malfeasance. Gillian Tett’s book describes it well.

How can we systematically determine the calculus necessary to build a Gothic arch in the sixteenth century or go to the moon in the twentieth and not be able to calculate the systemic risks in our banking system has only two possible excuses–stupidity, or worse, criminal negligence.

How our financial officials and financial professionals can fail to be alert to the risks of high levels of malfeasance has only one excuse–criminal negligence.

I think Soros was out of this market; but if he was in it, I bet he made a mint.

Does he know what should be done? When will anyone ask him who really cares about his opinion.

Meanwhile, what we have done is to take markets that were artificially inflated and re-inflate them with public funds. It would have been better to have put a stop to “irrational exuberance” years ago, and built a sustainable economy. Now, through a policy of panic, I fear we have created a monster that we cannot control.

Of course, 10% inflation will reset values that have not come down to earth. But a better policy would be to insure that workers earn according to their contribution, and build wealth that can sustain our economies in the future.

That is the way Henry Ford saw it. And he was no socialist.

By: hedonist

hedonist — Sun, 14 Jun 2009 21:33:18 +0000

The pioneer of Hedge Funds is telling us this;

Even tho its a VERY respected voice, will he be heard?

Sadly not…. and in his words and those of another wizard, Arthur Cashin I end…..

These are strange and new times.. this is not just a black swan, this is a platypus we’re looking at…
we’re not going back to any place we’re familiar with…
we’re going to a new normal, and I just hope its comfortable enough to live in.
~Arthur Cashin.

The recession will last a long time. “Look, we are not going back to where we came from. In that sense it’s going to last for ever.”
~ George Soros

By: VN

VN — Wed, 08 Apr 2009 08:27:35 +0000

I agree with Mr. Soros had there been no Lehman Bankruptcy the whole scenario would be different right now…

All these i-banks are inter-twined due to complex OTC products they trade/sell.. If one goes down … the rest follow..

By: J Fernandes

J Fernandes — Wed, 08 Apr 2009 01:28:05 +0000

American Dollars are true value is less then the cost of the paper they are printed on. .. Excluding the INK.

By: JJ Natura

JJ Natura — Mon, 06 Apr 2009 15:18:19 +0000

Soros is generally viewed as a socialist, or command economy advocate, so his musings on free enterprise are disregarded by many. He states that bank recapitalization has taken the wrong shape – coincidentally a strategy followed by every G20 country. OK, so how exactly would Soros get credit moving forward, in a manner that is much smarter than the rest of the world?? He doesnt say. He is frequently quick to criticize, but never offers a concrete substantive alternative. He states that the rate of GNP growth globally is going to be slower than the last 20 years? Really? And what is that conclusion based on? Productivity? Innovation? Trade? No, its based on the sport of pontification.