Posted on 04/11/2008 5:31:47 AM PDT by AndyJackson
“80 year economic cycle”
I like to watch patterns.
I have read there is an 80 year cycle in climate. Coincidence? I doubt it.
(as an side, I believe it is really a 77 year cycle. There must be a reason people have a nearly magical fascination with the numbers 7 and 11. 7X11=77)
OTOH. . .It was his 'by his smarts' that he got his money. But like all Liberals; he carries a self-serving 'utilitarian' world view.
'Smarts' exercised without moral consideration or without virtues of good character; leave what I see as the 'evil genious' of Soros.
This story mentions his 'charitable contributions, without naming them.
Soros has made his fortune by putting his money where his mouth is. Soros did not "talk down" or "take down" the British pound, or any other currency. His currency bets have been when countries, such as Britain, have manipualted their own currency, and the resulting distortion has reached a crisis. That is when/where he has made his bets. Soros by himself has never had the financial resources to do more than spit in the wind of daily currency trade volumes.
You can't take too many chances if you're always wrong. It's called running out of money.
He made a business decision.
When the Industries moved from the NorthEast to Southern Rural states in the 1970’s and 80’s, they didn’t do it because they hated NY, NJ and PA, they didn’t do it because they loved NC, SC and Ga, they did it because it would make them more money.
Buffet and Soros isn’t shorting the dollar because they hate America, they did it because they saw the trade deficit, they saw the fiscal irresponsibility of the Bush Administration, they saw the consumer borrowing, they saw the flat wages, they saw irresponsible Wall Street and they said “There’s no way the dollar can survive all this.”
If Soros and Buffet thought the Dollar would increase in value, they would have made the opposite bets.
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