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Friday, August 19, 2011

George Soros's many ideas...

Mr Soros has assumed the habit of EU elites of not being able to keep his mouth shut. He seems to be spending his twilight years thinking that everyone in the world is interested in his opinions.

Well, there is one primary reason why the world knows who Mr Soros is. He once had the nerve to speculate against the venerable United Kingdom -- a Jewish emigre from Hungary against the Empire, so to speak -- and he won and made tons of profits.

This is not to say that Mr Soros's opinions should be disregarded. After all, he has acquired the status of an opinion leader and from that standpoint alone whatever he says is important.

But no one should make the mistake that something is right simply because Mr Soros has said it, and silly ideas (like the idea of Eurobonds) do not become less silly only because Mr Soros repeats them all the time.

Finally, a euro exit by Greece (or by other countries) is the last thing the present chaos in EU finance needs at the moment. If Mr Soros used his enormous intellectual capacity a bit more (apparently, he no longer feels that he needs to bother with that because everything he says off the cuff is taken like the word of genius), he would quickly discover that there are many ways to simulate a return to the drachma without having to exit the euro.

And last but not least, would you buy a used car from Mr Soros? If not, think about it before you buy into his ideas!

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