GEORGE SOROS on FT times ARTICLE!! 1/29

[Masher]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

well of course but endorsing a candidate means you think their ideas would be better than the opposite candidate or candidates....

It was last minute. My sense is they were afraid McCain had a shot.

[ProdigyofZen]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

I supported neither candidate. All of them are bad except perhaps Ron Paul (only bc he would try to get rid of the Federal Reserve like Andrew Jackson tried to do with the US central Bank during his presidency) , but I did vote. I voted for the lesser of 2 evils in my opinion, McCain.

[ProdigyofZen]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

Not really, I just wanted a post on that article by Soros, he is one of the most influential men in the world so its important what he has to say and what he advocates.

[Roughneck]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

His socialist tendencies asside I would say he has a pretty good grasp on the situation. As someone who makes a living in the oil industry I am not in favor of carbon taxes but putting a floor on the price of oil is not a bad idea. It would maintain investment for exploration of conventional sources and spur investment in alternative technology which tend to diminish as oil prices drop.I think 60 would be a better number.Of course the money generated would have to be dedicated to tax incentives and research,not just spent by the government.On second thought maybe it's not a good idea

[*T*]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

I cannot believe he is advocating this!!!! It is soooo crazy to read and listen to what Soros writes compared to his old partner Jim Rogers who says virtually the exact opposite of what he believes. Maybe that is why Rogers quit the Quantum fund in 1980 who knows?

Soros is smarter than the next man, including Rogers.

His point has always been that free markets are inherently unstable and not efficient and lurch from bubble to bubble, as he describes in his books.

Soros is one of the few people I listen to and actually take seriously.

[kartius919]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

A floor on oil is essentially a direct tax on oil consumption. This is politically unfeasible so the other although less efficient alternative is a cap and trade. Brokers love this idea because they are the middlemen and can profit from it.

[FRED]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

A floor on oil is essentially a direct tax on oil consumption. This is politically unfeasible so the other although less efficient alternative is a cap and trade. Brokers love this idea because they are the middlemen and can profit from it.

Excellent point, and why EJ's now oft repeated suggestion of a set price floor for imported oil put forward early last year in The Next Bubble is a non-starter. Soros at $70 is adjusting for deflation.

The other political problem is that it's regressive, requiring gasoline and heating oil to be subsidized in the US as it is in many countries. Raising the price of oil during a deflation may help induce inflation but Soros is not thinking clearly on this point: what we, the US and our allies, really want is to depreciate the currency in which the oil is denominated.

[ProdigyofZen]

Re: GEORGE SOROS on FT times ARTICLE!! 1/29

All I am saying is, price controls on anything never leads to the desired result. This is why I can't believe Soros is advocating this, the govnt trying to control the market. Cap n Trade is just a way for brokers and al gore to get rich off having a carbon emission trading exchange (that he is the major stakeholder). It also allows for a huge transfer of wealth from developed western nations to poor nations. Which is another total BS move and attempt to make everything "equal" whatever that is.