PDA

View Full Version : Economics B.O.'s puppetmaster George Soros wants more debt


The Mad Crapper
01-27-2010, 02:30 PM
Financier says political resistance to more economic stimulus risks return to recession

The speculator and Nazi Collaborator George Soros warned today that growing political resistance to fresh state borrowing risks pushing the global economy into a double-dip recession next year.

Soros said at the World Economic Forum in Davos that the recovery from the worst recession since the second world war was "incomplete" but that fear about sovereign country debt was a barrier to spending designed to boost growth.

"There is a general concern with sovereign debt," Soros said. "It is coming under suspicion and it has a political momentum because there is increasing political resistance to allowing national debt to rise.

"Some countries like Greece do have deficits of 12.5% of GDP [gross domestic product], which is intolerable and has to be reduced. Other countries like the United States and the main European nations have plenty of room to increase their deficits."

Governments around the world have allowed their budget deficits to balloon since the financial crisis broke in 2007, but Soros said more spending was needed.

"I think that since the adjustment process to the recession is incomplete, there is a need for additional stimulus. The political resistance to it increases the chances of a double dip in the economy in 2011 and after that."

The dispute between Gordon Brown and David Cameron over when and how to reduce Britain's budget deficit – forecast by the Treasury to hit 178bn this year – is likely to dominate the political debate in the run-up to the election.

Labour has argued, like Soros, that it would be dangerous to tighten policy too soon. The Conservatives believe failure to tackle the deficit swiftly will spook the financial markets and lead to higher long-term interest rates.

With the first day of the World Economic Forum dominated by the debate over re-regulation of the banks, Soros said he was supportive of Barack Obama's plan to limit the size and scope of Wall Street institutions, but said that it "did not go far enough".

He said that even if the reforms were agreed, the problem of banks considered "too big to fail" would remain. "Institutions have to be controlled so that they don't fail. They have to be kept under much closer regulatory supervision."

Soros said the globalisation of finance should be matched by global supervision. Leverage limits and tougher capital regulations would help to reverse the trend of the past few decades. "Deregulation became contagious," Soros said.


http://www.guardian.co.uk/business/2010/jan/27/davos-soros-debt-double-recession

KC native
01-27-2010, 02:49 PM
God damn, you are a dishonest piece of shit. Why don't you put up the real source link. Here's the article at what you linked to

Bank of England policymakers split over prospects for British economy

Giving speeches on the same night, MPC member Andrew Sentance hails "tailwind" of world recovery, while senior insider Andrew Haldane warns of "debt overhang" in downbeat address

The growing divergence of views at the Bank of England about when the fragile UK economy can safely be taken off life *support was laid bare tonight in sharply contrasting speeches from two of its top policymakers.

As the Bank's monetary policy committee prepares to hold a critical meeting next week to decide whether to pull the plug on quantitative easing, its 200bn policy of pumping money into the economy, hawkish committee member Andrew Sentance gave an upbeat address in London, hailing the recovery in the world economy as a "tailwind", and playing down the risk of a relapse in the housing market. But a few hours later in Liverpool, Andrew Haldane, the Bank's executive director for financial stability and a confidant of governor Mervyn King, warned the UK's "debt overhang" will take a long time to work off.

Haldane said while there had been a strong recovery in financial markets, "there are good reasons for believing this story has some way to run". He warned: "While the flow of news over the past year has been positive, some of the stock problems which were the root cause of the *crisis remain intact. The lasting legacy of this crisis is too much debt held by too many sectors against too little capital."

Like Chancellor Alistair Darling, the Bank's decision-makers have been taken by surprise by the weakness of the UK's recovery from recession: official figures released on Tuesday showed that the economy grew just 0.1% in the fourth quarter of 2009, while the CBI said today that retail sales in January were at their weakest for five months.

While "inflation hawks" on the MPC, including Sentance and chief economist Spencer Dale, have sent strong signals that they are itching to start withdrawing quantitative easing for fear that the economy will start to inflate too fast, others, including King, have been taking a more cautious view in public about the economy's ability to stand on its own feet.

Sentance told the British Property Federation that the benign forces that held down inflation during the boom years are no longer in place, and that with the cost of imports rising the Bank may need to bear down on prices at home to keep inflation on target. "Through the recession, the MPC has been right to relax monetary policy aggressively," he said. "But as the recovery develops, the economic situation will change and the MPC must be ready to adapt its policies."

But Haldane said the drastic policies of quantitative easing, rock-bottom interest rates and multibillion-pound bank bailouts had merely acted as "painkillers," disguising the fact that the total debts built up by families, firms and the government more than doubled, from 200% of GDP to 450%, between 1990 and 2008.
Soros fears double dip

The speculator and philanthropist George Soros warned that growing political resistance to fresh state borrowing risks pushing the global economy into a double-dip recession next year. Soros said in Davos that the recovery from the worst recession since the second world war was "incomplete", but that fear about sovereign country debt was a barrier to spending designed to boost growth.

"There is a general concern with sovereign debt," Soros said. "It is coming under suspicion and it has a political momentum because there is increasing political resistance to allowing national debt to rise.

"Some countries such as Greece do have deficits of 12.5% of GDP, which is intolerable and has to be reduced. Other countries such as the US and the main European nations have plenty of room to increase their deficits."

Governments around the world have allowed their budget deficits to balloon since the financial crisis broke in 2007, but Soros said more spending was needed. "I think that since the adjustment process to the recession is incomplete, there is a need for additional stimulus. The political resistance to it increases the chances of a double dip in the economy in 2011 and after that."

The dispute between Gordon Brown and David Cameron over when and how to reduce Britain's budget deficit forecast by the Treasury to hit 178bn this year is likely to dominate the political debate in the run-up to the election.

Larry Elliott

You should really know your sources better. The Guardian would never call some one a Nazi collaborator unless it were true. Seriously, die in a fire already.

Bootlegged
01-27-2010, 03:00 PM
God damn, you are a dishonest piece of shit. Why don't you put up the real source link. Here's the article at what you linked to



You should really know your sources better. The Guardian would never call some one a Nazi collaborator unless it were true. Seriously, die in a fire already.

U ain't so bright, is ya?

KC native
01-27-2010, 03:02 PM
U ain't so bright, is ya?

hey hey the master of dishonest thread titles and bullshit articles. You disappointed because shitty couldn't pull it off as well as you?

Bootlegged
01-27-2010, 03:04 PM
hey hey the master of dishonest thread titles and bullshit articles. You disappointed because shitty couldn't pull it off as well as you?

Are you saying the link he provided didn't contain the article he posted?

Stewie
01-27-2010, 03:06 PM
Soros is just waiting to pounce on the currency game again. He has a wider selection now rather than just British Sterling.

The Mad Crapper
01-27-2010, 03:11 PM
God damn, you are a dishonest piece of shit. Why don't you put up the real source link. Here's the article at what you linked to



You should really know your sources better. The Guardian would never call some one a Nazi collaborator unless it were true. Seriously, die in a fire already.

Are you a Nazi sympathizer?

:hmmm:

KC native
01-27-2010, 03:23 PM
Are you saying the link he provided didn't contain the article he posted?

You're not to bright huh?

KC native
01-27-2010, 03:38 PM
Are you a Nazi sympathizer?

:hmmm:

B.O.'s puppetmaster... 01-27-2010 04:09 PM E. Norma Stitz Suck my fart

Awwww what's a matter shitty? You upset because I busted your thread before it even got started? ROFL

Bootlegged
01-27-2010, 03:45 PM
You're not to bright huh?

:bravo:

patteeu
01-27-2010, 03:53 PM
God damn, you are a dishonest piece of shit. Why don't you put up the real source link. Here's the article at what you linked to



You should really know your sources better. The Guardian would never call some one a Nazi collaborator unless it were true. Seriously, die in a fire already.

This what leftwing website, crooksandliars.com (http://crooksandliars.com/node/32070/print) had to say about Soros:

Soros never was involved in "pointing out Jews" -- he simply accompanied his protector while he carried out his civic duties, which included confiscating property from Jews.

Reasonable people might disagree whether that constitutes collaboration or not, but I don't think it's a completely baseless characterization. He was a teenager so it's not like he was a party member or a member of the Nazi youth or anything. He wasn't a member of any resistance either though.

The Mad Crapper
01-30-2010, 07:04 AM
http://www.moonbattery.com/Soros_Puppet.jpg

banyon
01-30-2010, 11:01 AM
Nazi Collaborator?

He would have been 9 years old at the start of the War.

Where do you get this tripe?

banyon
01-30-2010, 11:03 AM
If he said what is posted, then he he is wrong about deficit levels.

The Mad Crapper
01-30-2010, 11:06 AM
http://www.moonbattery.com/Soros_Puppet.jpg

googlegoogle
01-31-2010, 04:19 AM
Why is this jackass trying to ruin the USA?

How has Keynes theories done in the UK with their stagnant economy?

Norman Einstein
01-31-2010, 05:09 AM
Nazi Collaborator?

He would have been 9 years old at the start of the War.

Where do you get this tripe?

Did you try Google before you posted your response? It's really easy.

http://www.google.com/search?hl=en&safe=off&q=george+soros+nazi+collaborator&aq=0&aqi=g9g-m1&oq=george+soros+na

If you check the listings under the search you can see where it came from.

http://www.larouchepub.com/pr_lar/2008/lar_pac/080715soros_perfidy.html

I don't know if you would call it fully true, but the timing isn't as far off as indicate in your reply.

The Mad Crapper
02-01-2010, 09:12 AM
http://www.moonbattery.com/tax_and_spend_Muppet.jpg

eronienry
02-01-2010, 04:32 PM
There s a lot of discussion on her about debt collection or TVLA etc.

Im just wondering if the people who are experts in this forum could list the top 3 or more things that debt collection agencies dont want you to know?

Thanks

The Mad Crapper
02-02-2010, 06:07 AM
"Your wish is my command, George" -B.O.