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Re: Soros sez we are all F*cked!
"Now 78, Soros cuts a dapper figure in an open-necked pink shirt. In Davos, he is introduced as a prophet who foresaw the current global crisis. Predictably, he does not exactly lighten the mood.
He says: 'The financial system which we used to take for granted has collapsed.'
The situation is 'significantly worse' than the Thirties Depression.
Nor does he think that even President Obama can rescue the U.S. banking system."
Mike -
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Re: Soros sez we are all F*cked!
[QUOTE[U]Originally posted by jtabeb View Post
soros gets the captain obvious award, then.Comment
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Re: Soros sez we are all F*cked!
See, if iTulip had been there at Davos, iTulip woulda said it better than that Soros geezer ... more cogently, or more probingly or something.
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Re: Soros sez we are all F*cked!
Soros is just pissed because everything has collapsed and for the first time in 600 years he doesn't have anything obvious to short anywhere in the world. He probably gets into a really foul mood when there's not some shorts on in the portfolio.Originally posted by metalman View Post
He's not going to short Treasuries because the Fed has served notice that's a no go zone, and he won't dare short gold 'cause he's probably long...:pComment
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Re: Soros sez we are all F*cked!
iTulip would have said it with flowers...Originally posted by Lukester View PostSee, if iTulip had been there at Davos, iTulip woulda said it better than that Soros geezer ... more cogently, or more probingly or something.Comment
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Re: Soros sez we are all F*cked!
----nm----Last edited by politicalfootballfan; February 02, 2009, 07:47 PM.Comment
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Re: Soros sez we are all F*cked!
Crikey, you lot, Soros is a good guy.
Read a real newspaper:
http://www.ft.com/cms/s/0/aaadcffe-e...0779fd2ac.html
http://www.ft.com/cms/s/0/d93c2812-e...0779fd2ac.html
"No philanthropist in the second half of the 20th century has done better in deploying resources strategically to change the world," Larry Summers, the newly appointed head of Barack Obama's National Economic Council, told me in a conversation early last autumn. Talbott compares Soros's impact to that of a sovereign nation. In the 1990s, says Talbott, "when I got word that George Soros wanted to talk, I would drop everything and treat him pretty much like a visiting head of state. He was literally putting more money into some of the former colonies of the former Soviet empire than the US government, so that merited treating him as someone with a very high impact."Comment
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Re: Soros sez we are all F*cked!
.Just a friendly doomer perspective: remember, it can always get worse. So a doomer would ask to what degree are we fucked. The fuckedness is given, but how much? (I didn't start the profanity, but given the circumstances it seems appropriate to use the fuckedness metaphor).
BTW, the mainstreaming of doom sets off my tinfoil alarm. WTF are they planning? Educated guesses welcome (no reptilians please
). Capital controls are likely, but how will they implement them without the world coming to a screeching halt? Anything FIRE-related will be "quarantined" like plague victims, whereas "physical goods" will be spared?
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Re: Soros sez we are all F*cked!
There is this great movie "1984" I think it's called. You should watch it.:cool:Originally posted by krakknisse View Post.Just a friendly doomer perspective: remember, it can always get worse. So a doomer would ask to what degree are we fucked. The fuckedness is given, but how much? (I didn't start the profanity, but given the circumstances it seems appropriate to use the fuckedness metaphor).
BTW, the mainstreaming of doom sets off my tinfoil alarm. WTF are they planning? Educated guesses welcome (no reptilians please). Capital controls are likely, but how will they implement them without the world coming to a screeching halt? Anything FIRE-related will be "quarantined" like plague victims, whereas "physical goods" will be spared?Comment
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Re: Soros sez we are all F*cked!
an approximate quote..."40% of the world's wealth has vanished over the last five quarters"
Astonishing. It's like a slow-motion meteor.Comment
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Re: Soros sez we are all F*cked!
Um, the theme of the last century was "planned solutions". See how well that's worked out for the Cubans, the Soviets, the ChiComs, the North Koreans, the Khmer Rouge, and so on?Originally posted by politicalfootballfan View Post
Leftists/socialists/liberals/Democrats love to talk about how it's all going to be scarcity in the future because that justifies their visions of big central government "planning" how people will live.
History, however, is full of examples where scarcity of some resource was resolved by development - through free market price incentives - of even better alternatives. As economist Julian Simon noted, in England in the 1700s there was a "firewood crisis" as the trees were cut down by the growing population. You can imagine the doomster scenarios that would have been trumpted at the time - people will freeze in the winter, we are entering a time of permanent firewood scarcity, etc, etc. Then the increasing price of firewood prompted someone to notice that coal could be burned for heat and was in fact in many ways better than firewood. Plus there was massive supplies of coal. End of firewood crisis.
Time and again the doomsters predict permanent shortage of some resource and some of them advocate big government "planning" to deal with it. Probably nothing could more certainly delay the discovery of the solution than to get the government involved, entrenching the status quo with nationalization, subsidies for dying industries, and so on. If our children were taught to understand the logic behind the free market instead of being indoctinated in egalitarianism they might have a little more faith that the big problems of the moment will be solved most efficiently by letting the price signals of the marketplace encourage the development of alternatives.Comment
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