Soros: Fundamental Problems in US Economy Remain Unresolved

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Philanthropist and complex systems theorist George Soros shared his views on “The Emerging Economic and Political Order: What Lies Ahead?” at the recent, much reported on major economic policy conference at Bretton Woods, New Hampshire sponsored by the Institute for New Economic Thinking.
Key takeaway from Soros’ comments above is that the fundamental problems that destabilized the US economy in the summer of 2009 remain in place. Little has changed in his view, and these problems continue to lurk and will destabilize the US economy and potentially the global financial order in the future.
– Steve Clemons

Comments

8 comments on “Soros: Fundamental Problems in US Economy Remain Unresolved

  1. John Waring says:

    How clean are the balance sheets of our top financial institutions? Not very. Is the deleveraging cycle completed? Nowhere close.
    http://www.marketwatch.com/story/federal-reserves-path-of-destruction-2011-04-13

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  2. DakotabornKansan says:

    Is Goldman Sachs Too Big to Fail? (Yes, they are doing God

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  3. DakotabornKansan says:

    For Warren Metzler, who says,

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  4. DonS says:

    “I suggest that Glenn Greenwald is wrong. I have read his blog almost every day for years, and he consistently sees flaws in high officials, but never considers whether the significant immorality and lack of integrity in those circles is any indication of significant immorality and lack of integrity in society at large. Which I am convinced is the real problem.” (warren m)
    I think your may hold glenn’s feet to the fire a bit too much. It seems to me Glenn goes a fur piece toward indicting society at large for failing to reflect progressive values.

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  5. Warren Metzler says:

    I suggest that Soros is a classical example of a person who earns his money solely making bets; in his case investment bets, instead of gambling on the horses of in a casino; in other words never actually producing a single product a consumer can beneficially use; not being able to think of this, and perhaps any, situation, in terms of the world views of the people who created the situation. But instead to solely analyze the situation via philosophical theories that never tell us what is really occurring.
    It is a common technique among money people: they get to pursue understanding, and assume they have arrived at understanding, without ever having to examine their actual character, or the character of any of the other major players.
    For Dakota, I suggest that Glenn Greenwald is wrong. I have read his blog almost every day for years, and he consistently sees flaws in high officials, but never considers whether the significant immorality and lack of integrity in those circles is any indication of significant immorality and lack of integrity in society at large. Which I am convinced is the real problem.
    The vast majority of people today have abandoned all principles, all authentically moral behaviors, all integrity; and live in as world of relative morality; what have been taught in our seminaries for several decades now, “situational ethics”. Also manifested as political correctness: “your reality is different from my reality”; when authentic reality, what is, is the same for every person involved in, or aware of, any one situation.
    And out of that world view of relativity, abstractions are discussed and desired, while the world goes to hell in a hand basket around us.
    I am clear that any person can be authentically moral; can be clear what is the real world view of her, or anyone else; can with hard work and persistence discover what works well (the approach that consistently produces a successful outcome)in every situation she encounters; and have sufficient integrity to work toward that end in all she does.
    Until a substantial percentage of the population begin to behave in that manner, I propose we will continue to move down this current path toward increased chaos and destruction.
    I end with one question. How is it that budgets “hawks”, who supposedly think we must have a balanced budget and continue tax breaks for the wealthy, can’t think of a single intelligence or military expenditure to cut? I shouldn’t assume that such behavior indicates they are totally duplicitous in their interest in a balanced budget should I????

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  6. erichwwk says:

    Re prosecution:
    Sen. Carl Levin (D-Mich.) said on Wednesday that he plans to refer Goldman officials, and potentially officials from other organizations, to the Justice Department for possible prosecution and to the Securities and Exchange Commission for possible civil proceedings.
    http://legaltimes.typepad.com/blt/2011/04/senator-carl-levin-says-goldman-sachs-misled-congress-plans-doj-referral.html

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