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Thread: Soros says Germany Could Cause Euro Collapse

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  1. #1
    Havakasha is offline

    Soros says Germany Could Cause Euro Collapse

    What do you think S&L? You in favor of Germany's approach to budget.

    http://www.cnbc.com/id/37865858

  2. #2
    Havakasha is offline
    In addition it appears from this chart and additional figures that Europe's debt crisis was NOT caused by govt spending.

    http://www.dailykos.com/storyonly/20...leting-Krugman
    Last edited by Havakasha; 06-23-2010 at 01:00 PM.

  3. #3
    SiriuslyLong is offline
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    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Quote Originally Posted by Havakasha View Post
    In addition it appears from this chart and additional figures that Europe's debt crisis was NOT caused by govt spending.

    http://www.dailykos.com/storyonly/20...leting-Krugman
    The first article was a little too heady for me. I would agree with Soros that it is Euro is flawed in that countries like Greece cannot manage there own fiscal policy. Obviously, he is a Keynesian. Painting such a grim picture nears on fearmongering.

    The second article, well, I'm a very simple person. You have revenue and you have expenses. When your revenue is too little to cover your expenses, you run a deficit. And when you borrow money you cannot pay back; you default on your loan.

    In looking at tax burdens for different nations, it looks as if Greece and Spain, for example, are taxing at sufficiently high rate compared to other nations.

    http://moneycentral.msn.com/content/taxes/p148855.asp

    The inability to pay back your debt comes from somewhere.

  4. #4
    Havakasha is offline
    Here is someone who disagrees with Soros. Only time will tell

    http://www.cnbc.com/id/37890644

  5. #5
    SiriuslyLong is offline
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    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Quote Originally Posted by Havakasha View Post
    Here is someone who disagrees with Soros. Only time will tell

    http://www.cnbc.com/id/37890644
    Interesting stuff for sure. There is something extremely practical about getting your house in order. Believing otherwise is counterintuitive.

  6. #6
    Havakasha is offline
    We dont disagree about getting your house in order. Only problem is its easier said then done. Especially so when you buy a house thats already severely in need of repair and there are many conflicting demands on your money. I still agree with the idea that we first have to grow the economy and cut unemployment before we starte and austerity budget.

    You should be aware that the European countries who are cutting spending are RAISING TAXES.
    So i would quess that you would have no problem with the U.S. doing the same to help rein in the
    deficit?
    Last edited by Havakasha; 06-24-2010 at 12:04 PM.

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