Soros Bashes Obama For Following Outdated Keynesian Economics, Says Keynes Would “Definitely” Adjust His Theories If He Were Alive Today…
I think the Soros Express just ran over Barack Obama.
SPIEGEL Interview with George Soros — Spiegel
SPIEGEL: The United States is drowning in even more debt than Europeans. Its economic recovery has been painful. Are we going to see a double-dip recession in the US?
Soros: The indebtedness of the US is not all that high, but if a double-dip recession was in doubt a few weeks ago, it is less in doubt now, because financial markets have a very safe way of predicting the future. They cause it. And the markets have decided that America is going to see a recession, particularly after the recent downgrade of the US by the rating agency Standard & Poor’s.
SPIEGEL: President Barack Obama has been fiercely criticized for his handling of the economy. You were one of his biggest supporters in 2008. Are you happy with his economic policy?
Soros: No, of course not. But the reality is that we have had 25 years of excesses building up in America — a combustible mix of too much credit and too much leverage. You need a long time to reverse that.
SPIEGEL: Obama tried to stimulate growth with a gigantic stimulus program which increased the national debt further. Was that a mistake?
Soros: Obama embraced the ideas of John Maynard Keynes. Basically, the analysis of Keynes is still very relevant — with one big difference between now and the 1930s. In the 1930s, governments had practically no debt and could therefore run deficits. Nowadays, all governments are heavily indebted, and that is a big change.
SPIEGEL: If Keynes were still alive, would he adjust his theory?
Soros: Definitely. He would say governments can still benefit from running fiscal deficits, but the new debt has to be invested in a way that will pay for itself. So the money spent would have to increase productivity.
Posted by ZIP on Monday, August 22, 2011, at 9:07 pm | 
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Keynes?
He probably meant Marx.
Covering up for Keynes to save his face is a little too late Soros…Keynes is dead.
“Soros: The indebtedness of the US is not all that high…”
End of conversation…it is waaaaay too high. Soros is an idiot or has an agenda that is anti-American. Why can’t we neuter this POS?
Keynes wasn’t a Socialist.
Time for soros to pack his bags gather his billions of dollars and leave america forever and take Obama with him
rbosque
Keynes’ theories of massive government spending to induce growth fit Obama’s failed “stimulus” policies to the T.
Keynes theory never said take trillions, piss it away, and give it to your buds. It was always to be used to increase productivity. Its just we gave some affirmative action fuck all the money and he pissed it away.
Obama can’t adjust. He has no creativity whatsoever.
Someone else has to lay the plan out for him. (The puppet-master.)
the only thing missing from the attempts was SAVING during boom times..
never happened.. thus the theory was never REALLY tried
just saying..
it’s still a stupid idea when you have actual humans running the economic scheme.. Keynes thought government could actually be moral and good and make correct decisions when the times were correct..
what a maroon…
One Word…’Priceless!’
This is rich coming from the guy who is benefiting from America’s demise.
He’s very happy with his puppet Obama.
The Grim Reaper is not pleased with his protege…
Soros has jumped on the bash Bam wagon! The wheels have come off the bus and the love is gone. Cue the David Guetta music:
Now that the love is gone !
What are we supposed to do
After all that we’ve been through
When everything that felt so right is wrong
Now that the love is gone ?
…
barry seems to have outlived his usefulness. I wonder what his handlers have in store for him…. If barry runs for re-election, I think that not only does he face a massive landslide, but he will take a big chunk of the democrats down with him.
Hey, George, maybe you should’ve clued your flunky in about investing in something that increases productivity before he borrowed and pissed away all the money. Are you suffering from buyer’s remorse, now?
“barry seems to have outlived his usefulness”
I was thinking the same thing, sb.
Barry is incapable of abstract thought. It’s why he cant appreciate it in others.
If Soros wants his marionette to do something specific, he’ll have to break it down in to simple steps first.
Barry is really good at following a checklist. Look how well he picked up that ‘Rules for Radicals’ thing.
.
Has George already planned his escape yet? What nation does he intend to move to in 2013?
He has to know that we will use every legal means at our disposal to make his life a living hell, after his grand social experiment burn to the ground.
.
@ZIP
“barry seems to have outlived his usefulness”
I was thinking the same thing, sb.
What?? He never had a “use” in the first place.
Soros is too smart for this…he puts up a good front in this interview…
he knows full well what Odumbo is up to…. and approves…
otherwise it would have ended long ago
Soros wants Team O to manipulate the markets… so he can cash in..
What’s that he has in his right hand? Is that a cream filled turd?
One of the key factors for keynesian economics is it assumes you have saved money and are actually operating with a surplus before you start spending madly.
In other words, you should be a billionaire before you get the island, the mansions, the yacht, the cars and the staff to keep it all going.
Or even more to the point, Obuttmunch is an idiot.
I’m sure George will fall back on plan B, so he’ll just clean up on options and speculation as our economy collapses.
@Zip
Very true Zip but Keynes wasn’t interested in destroying the currency, nor was he for gov’t seizing industry. In that respect Obama is more like Marx.
Keynes was popular when I was at school finishing my econ degree. As for me, I liked Ricardo and Smith, they really transitioned us away from a merchantile system.
Obama is Soros’ bitch. Period.
Whoa! The king of all worms turns.
New commercial: “When Soros speaks, Obama listens.”
Soros is OLD. He already looks like a corpse!
Dear God,
Please kill him.
Amen
@ Nemesis
I think that barry did have a use. barry was used to guilt trip the white liberal elite (and apparently a lot of others) into voting for a complete con. Once in office, barry was used to steal an inconceivable fortune from the US Treasury. Now, barry has outlived his usefulness. The question remains, what will become of him?
http://www.foxnews.com/us/2011/08/22/standard-poors-president-resigns/
Wow. Whatever Obama wants, Obama gets…
The SPIEGEL tards are ill informed and suck any socialist scheme up like a cocktail made of alchemy. Soros has no problem playing them, they are clueless and wouldn’t know what questions to ask.
http://www.zerohedge.com/news/sp-board-fires-ceo-telling-truth-be-replaced-coo-citibank
Following years of pandering to client demands, and assigning trillions of dollars in fixed income securities with whatever rating money bought (among other things, a factor to the credit bubble and its subsequent implosion) S&P finally tried to do the right thing and tell the truth.
However in this case it picked if not the worst, then certainly the most hypocriticial credit in the world to expose – the US itself.
Sure enough two weeks after the downgrade, someone made the phone call and the CEO Deven Sharma is no more.
As for the kick square in the gonads: Sherma will be replaced with the COO of…you know it… the bank which demanded tens of billions in secret Fed bailout loans itself, Citibank.
The only question left in this entire farce is how long before S&P issues the following upgrade of the US: “Great service, AAA+++ rating, immediate payment, would do business again!!!”
@sb
Well, yes, I agree with all you stated. Since day one of his 2008 campaign, myself and many others saw barry as a false politician who was all talk and no substance. If he applied for a job, his resume would be sorely lacking and he would not be hired. Bullshit all the way. Sad part is a huge percent of voters (using term loosely) think obumbler is mr. wonderful and does no wrong.
I’ve always said that in order to receive your voter ID, you should have to pass a basic Civics test. Millions would fail.
Check this out…
http://www.youtube.com/watch?v=ViWsmEHsbEs&feature=related
@Rob
That’s one way to avoid a future downgrade.
I wonder what big spending program Obama is planning…….?
Now other credit agencies will not dare cross this regime. Are we going to get a fair assessment of our actual rating? Nope. More distortions, the markets will continue to operate in wonderland.
the Commiecrats have guaranteed failure … our failure…
the COO of Citibank… of all the corrupt financial institutions
I wonder whats next too…
He is setting up a Hillary challenge. Barry didn’t do it right. Hillary will finish the job.
So who is behind Obama’s financial policies if not Soros?
So now we’re supposed to believe the “head of the snake”?
No way this dude isn’t calling the shots on everything Jarret and Daley tell Slim Shady to say and do.
The french already fined soros a few years ago for some of his crooked dealing
Is Soros -still- alive?
Oh come on! What’s he up to?
drop dead you evil sick twisted being. wear your shorts cause its gonna get real hot down there.
Ahhhhh it’s……..Spooky duude!
I agree with all of you. I’m sick and tired of Hussein’s lies and distortions. He is taking his cue from Soros and has been from way before 2008. Soros is a manipulator and a very, very evil man.
He has had a hand for years in European countries who have been and are now in distress. It’s his big plan and he is never going to give up on all of that until he has been pronounced “DEAD”.
Soros is destroying all countries within the financial end of it. He creates havoc and unrest. He won’t stop until he has created “World Order”.
Amen
That photo of old man Soros looks like a dead fish. Why does that coward run to Germany to bad-mouth Hussein Obama? A “REAL” Socialist Progressive liberal, would have gone to the Marxist New York Times to drop his pants! Wait a minute, I think that I am confusing George Soros with Barney Frank! After all, there is no difference, they are both SICK!
Hayek on Keynes
http://www.youtube.com/watch?v=VqU-AZh-wqU&feature=related
SPIEGEL: If Keynes were still alive, would he adjust his theory?
Soros: Definitely. He would say governments can still benefit from running fiscal deficits, but the new debt has to be invested in a way that will pay for itself. So the money spent would have to increase productivity.”
Am I the only one who thinks this sounds like utter bullshit? Yes, increasing productivity is good but absent a lot of other unstated assumptions it most certainly doesn’t create jobs. Either he didn’t say what he meant, or else this is simply a canned catch-phrase that he knows everyone recognizes. “Mmm, yeah…productivity!”
Same with “the new debt has to be invested in a way that will pay for itself.” That’s trivial, because it’s got to do much more than that. If it only pays for itself, that’s a wash, break-even. To stimulate, government spending must create lots of jobs. Just spending without creating jobs is as effective as simply giving cash to people: a temporary blip in spending that quickly vanishes.
Again, a catch-phrase. Or he had something else in mind.
obama is brain DEAD!!!! soros is on his way!!! OH WHAT A BLESSED DAY!!!between the both of them,YOU STILL GET NOTHING!!!SOROS STILL THINKS HEIS IN EASTERN EUROPE!!! SEND obama AND sorosINTO ORBIT INTO OUTER SPACE LET THE ALIENS DEAL WITH THESE IDIOTS for all ETERNITY!!! BOY I HOPE THEY TAKE ALL THE MEMBERSOF HIS CABINET TOO!!! DON”T FORGET THAT WITCH M.WATERS cal. and the REST OF THOSE COUNTRY WRECKING MORONS!! THEY HAVE RUINED THIS COUNTRY!!!!LORD HELP US!!!!!!
Well, this is a surprise. Soros has admitted he loves to bring down nations. What happened? Maybe Oboma isn’t good enough at dissembling; although, I’d have said he was a master. His media lap dogs have kept him afloat so far. If Soros is admitting we are screwed, can the rest of the mob be far behind?
Since Papa Obama is, lets say indebted to Soros, he has repaid him by helping with OIL. Barack Obama’s top supporter George Soros is heavily invested in Brazilian oil- Petrobras. Soros made a major purchase before the news broke that the US would invest in the Brazilian oil company.
Why not publish the complete interview as follows. Pretty clear that Obama’s problem was that he acted too much like a Republican… Also, read the S&P downgrade: they said a big part of it was because of the unwillingness of Republicans to let the Bush tax cuts expire…
Soros: Obama’s stimulus program was not big enough and it was not directed at improving infrastructure nor human capital. So it was not productive enough.
SPIEGEL: And any further stimulus is now basically a non-starter, because the conservative majority in Congress is hell-bent on preventing it.
Soros: That is what is pushing the world towards another recession, into a double dip.
SPIEGEL: The Republicans are doing that?
Soros: Yes, but Obama is also at fault. He yielded the agenda to the Republicans. He is talking their language. The president would have to show leadership to counter the Republican wave, and so far he has not done so.
SPIEGEL: Do you think the US deserved the recent downgrade by Standard & Poor’s?
Soros: Probably not. This decision was the attempt by the rating agencies to reinvent themselves as anticipating rather than responding to changes that have occurred. So they are really basing that downgrade on the expectation that the political process will not provide the solution. Judging such political developments is a very new role for the rating agencies, though.
SPIEGEL: As an investor, do you listen to the rating agencies?
Soros: Well, I do not, but many other investors do.
SPIEGEL: The credit rating agencies are accused of exacerbating the crisis. Do you think the role of the rating agencies in the financial system needs to be scaled back?
Soros: I do not have an answer to that.
SPIEGEL: There are no a
Its important for anyone with a functioning brain to rise up in revolution against the progressive sexual deviants that will finish destroying America unless stopped, arrested and incarcerated. Wholesale slaughter of ACLU, Communist and Hollywood types will occur otherwise when the country collapses. At least in this way Civil War will be averted. Soetero Obama alias ad nauseum should be prosecuted along with his gangsters and bitch slut whore that pisses away tens of millions of dollars every year on her bitch slut appetites.