The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen. The crisis has entered what may be a less volatile but potentially more lethal phase.Read it at Project Syndicate
Reversing Europe’s Renationalization
by George Soros
2 comments:
Found this garbage by moron former AIG Director Feldstein over at Soros':
"Anyone concerned about inflation has to focus on the volume of reserves being created by the Fed. "
http://www.project-syndicate.org/commentary/fed-policy-and-inflation-risk
Take a look at that link if you want a good belly laugh.
"The total volume of reserves had remained virtually unchanged during the previous decade, varying between $40 billion and $50 billion. It then doubled between August and September of 2008, and exploded to more than $800 billion a year later. By June of 2011, the volume of reserves stood at $1.6 trillion, and has since remained at that level."
So they go from 40B to 1.6T and prices collapse? HELLOOOO!!!
"But this rise in reserves did not translate into rapid growth of deposits at commercial banks, because the Fed began in October 2008 to pay interest on those reserves. "
http://research.stlouisfed.org/fred2/series/WSAVNS
Why does Soros let him publish at the Soros website?
A lot of stupid articles are published at that site, I don't think Soros micromanages what is published, check/edits it or even reads it all.
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