Soros Agrees Markets Unable to Self-Regulate Excesses

Smart Fiscal Cat says, "Enough with Disaster Capitalism! Naomi Klein has some good advice for solving our deficits." Photo credit: Kittens by BinaryApe on flickr cc

In an article in the New York Times, “‘World Does Need Order, Soros Says” by Chris V. Nicholson, Billionaire investor George Soros was quoted as saying:

“The world does need order,” he said, “and that order needs maintenance. The idea that markets can correct their excesses turned out to be false.”

Soros then explained that the political infighting and trumped up deficit “Fiscal Crisis” touted by the GOP is a ruse to starve government. Soros spoke to the Traveller’s Club in Paris recently regarding global financial regulation. The event was sponsored by the French-American Foundation. Soros said:

The budgetary crisis unfurling in the United States on a state and municipal level has parallels to the European situation, Mr. Soros said, but is worse in some ways.

“It is exaggerated by political infighting, because the Republicans are engaged in a maneuver of starving the beast for political purposes,” he said, explaining that the G.O.P. was trying to shrink the government by blocking tax hikes, while attacking public employee unions, a major source of funding for the Democrats.

GOP Efforts to Shrink Government and Attack Public Employee Unions

The GOP has revealed its agenda for the 2012 election regarding Unions. As Rachel Maddow reported on 3/8/2011, when going to the Republican National Committee (RNC) website, their front page is all about Union-bashing.

Rachel Maddow: It’s Not About The Budget

False Enemies

George Soros stated that the GOP are vilifying Unions because they are a major source of funding for Democrats. Naomi Klein, Nation Columnist, reveals that GOP Strategy is “Disaster Capitalism.” Naomi Klein explains the way to diffuse this balloon of shock capitalism is to name it, call it out. Also, it is equally important for Democrats to provide an alternative approach to making government work by providing more choices for how to solve fiscal problems.

WI Governor Scott Walker’s Trial Balloon Failed

The GOP strategists hoped Scott Walker’s vehement attacks and tyrannical efforts to destroy the public employee unions in Wisconsin would cause other Republican leaning states to take similar action. Hopefully the GOP now realizes that undermining public and private unions in many cases crosses party lines and is not appreciated by a majority of Americans according to recent polls.

It’s interesting that Democrats never attempt to destroy corporations which are a major source of Republican funding. Does the GOP want a one-party system in America? Is that their idea of “freedom” and “free speech?” Is it “freedom” and “free speech” by a designated group of people?

This entry was posted in Banks, congress, democrats, Economy, Education, Elections, Environment, Frank Luntz, human rights, human security, jobs, K Street, Karl Rove, language, Media, News, Obama, Politics, President Barack Obama, Republicans, Senate and Congress, Talking Points Alert, Wall Street Wizards and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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