Thursday, September 22, 2011

Soros and Doom

George Soros

If George Soros doesn't like a policy, that's probably a good indication that it's the right way to go:
Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama's fiscal stimulus plans was to blame for sluggish growth.

Asked by CNBC if he believed the US risks falling into a double-dip recession [cnbc explains] , Soror said: "I think we are in it already."

"We have a slowdown and basically a conflict about whether the rich ought to pay taxes to create jobs or not and there was a deal in the making which would have balanced the budget over the long term, but would have allowed short-term fiscal stimulus, which would have been the right policy," Soros said in an interview late Wednesday.

"That was rejected, it fell apart… so it will come to the electorate next year to decide what they want," he added.

You can read about the man on the intertubes. He has enough money to manipulate small economies (and who knows, maybe big ones too) And he's been accused of causing currency collapses in order to profit from his "no" bets.

He's like the guy betting don't-pass at the craps table. He's irritating but no threat so long as he can't influence the game. The problem is that he's a short seller in a game he can influence, politically. And him pushing a liberal agenda is evidence enough that it's the wrong way to go.