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Fascinating times…

April 9, 2011

Its rather remarkable here the timing of the “government shutdown”. First, the shutdown is a total joke and wont really affect anything. Second they start to tell the public that a big reason for the disagreement is over abortion. Now, what else will take peoples minds off the raping of Libya? Lets not forget the Bretton Woods meeting going on where George Soros is deciding the worlds economic fate. This is almost too ridiculous to believe.

Soros said all this, seriously:

Soros called the ECB interest rate “inappropriate” and criticized U.S. efforts to cut debt during a recession. Soros also addressed the risk of wage inflation in China and how some developing countries, like Brazil, are imitating China’s efforts to curtail capital inflows.

On stimulus vs. austerity and whether U.S. debt impacts the world, Mr. Soros said, “If you have a growing economy, you can tolerate a higher level of debt. And if you have too much debt and you have a recession, you get into what they called debt check. This is the big issue. ”

He added, “There is very a strong push to tighten the budget as a way to reduce government spending. It’s a resistance to any kind of tax increase and tightening, particularly the budget of the states. The [U.S.] states cannot issue their own currency. They are in a similar situation to Spain and Portugal. There is a danger that by pushing this too far, you could abort the very fragile economic recovery that you are currently enjoying and push the economy once again into a slowdown or a recession.”

He concluded by saying, “I rather fear these political forces will push it into a recession. In my opinion, the country could actually absorb some more debt in order to get the economy going.”

Meanwhile the US dollar is really stumbling, the US long bond is stumbling, and every other currency (including gold & silver) is skyrocketing.  There have been some very strong moves in the markets this week, and another week like this will really start to shift some international policies. Be it countries moving publicly from our debt or rhetoric ramping up.

The people are being duped, and the ramifications are now becoming clear. Hopefully its not too late.

Read more: http://www.benzinga.com/life/hedge-funds/11/04/991129/soros-the-country-could-actually-absorb-more-debt#ixzz1IylBfgVn

 

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