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Video: Gold Bubble Seen by Soros on Brink of Bear Market

Edward Harrison — Fri, 30 Dec 2011 15:00:17 +0000

Gold is poised to complete its 11th consecutive annual gain, the longest winning streak in at least nine decades, on the brink of a bear market. George Soros, the billionaire who two years ago called it the “ultimate asset bubble,” cut 99 percent of his holdings in the first quarter, Securities and Exchange Commission data show. Betty Liu reports on Bloomberg Television's "In the Loop." (Source: Bloomberg Television)

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Paul Davidson: The State of Economics (wonkish)

Guest Author — Wed, 12 Oct 2011 15:25:50 +0000

Paul Davidson argues that a theory is the way humans describe real world observations on the basis of a model that starts with a few axioms. An axiom is an assumption accepted as a universal truth that does not need to be proved. From this axiomatic foundation, the theorist uses the laws of logic to deduce conclusions that explains what we observe in the world of experience. All theories are generally accepted in some tentative fashion. Theories are not ever conclusively established and can be replaced when events are observed that are deviations from the current existing theory. Thus, the financial crisis of 2007-2009 should have been sufficient empirical evidence to indicate that the axiomatic basis of the mainstream theory needs to be replaced

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George Soros: “People don’t realize that the system has actually collapsed”

Edward Harrison — Sat, 08 Oct 2011 12:52:09 +0000

This is an interesting way of looking at it. I have been under the same impression a lot of people are, that the system is teetering on the edge and policy makers are being pushed by markets to save/reform it. But what if what Soros here says is true? What then

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Soros: Europe needs Eurobonds

Guest Author — Thu, 18 Aug 2011 14:00:00 +0000

This week's Outside the Box is in the tradition of showing the other side of the argument. Normally, anything George Soros says or does politically has my blood pressure up about 20 points. Yet, I posted another piece of his today in Over My Shoulder – and then ran across this longer piece from Der Spiegel. Note this is from a dedicated Europhile wanting to save the euro. He succinctly outlines what must be done if it is to be saved, and does it as well as anyone. (I know that among my readers there are both likers and haters of Soros, but as an observer of markets he is to be respected. And this is an article in which his acumen is in evidence

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Soros getting out of the game

Edward Harrison — Tue, 26 Jul 2011 12:49:10 +0000

Apparently, there was a reason that Soros was 75% in cash. He is getting out of the hedge fund business altogether, liquidating assets and returning the funds to investors

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Why markets fail

Edward Harrison — Fri, 29 Apr 2011 13:30:04 +0000

George Soros makes the case for economics as a social science using his theory of reflexivity. Here are some additional thoughts to help understand why markets fail

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Soros on the Economy

Edward Harrison — Tue, 12 Oct 2010 15:00:21 +0000

As I have been saying for over a year now, arguments that fiscal stimulus is needed are not going to work. George Soros makes these arguments in the video below. Not only are these arguments not going to succeed, they are counterproductive. What I think people like George Soros pushing stimulus miss is the degree

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Soros explains his comments on gold as the ultimate bubble

Edward Harrison — Wed, 15 Sep 2010 19:00:00 +0000

George Soros has finally come out and said what he meant by his comments about gold being the "ultimate bubble." The National Post reports the following exchange from a Reuters interview. “Gold is the only actual bull market currently. It just made a new high yesterday. In the present circumstances that may continue,” Mr. Soros

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Hugh Hendry on Euro Outlook and George Soros

Edward Harrison — Thu, 24 Jun 2010 19:18:44 +0000

Hugh Hendry opines on strategy, George Soros and the euro. He believes the euro "is finished" for many of the same reasons I worry about the euro zone – namely that it acts like a deflationary gold standard for euro zone members. Here’s the problem in Europe. The euro has acted as an internal gold

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Soros attacks Germany’s hair-shirt politics

Edward Harrison — Wed, 23 Jun 2010 17:37:10 +0000

German daily Die Zeit published comments from an interview with famed US hedge fund investor George Soros who was sharply critical of German economic policy. Soros claimed that Germany was "isolated" in its austere interpretation of the Maastricht Treaty and that this would lead to economic collapse. Below are a few of the comments Soros

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Koo, White, Soros and Akerloff videos from inaugural INET conference

Edward Harrison — Sun, 11 Apr 2010 12:35:00 +0000

These videos are from the Inaugural Institute of New Economic Thinking (INET) conference in Cambridge. Hat Tip Mark Thoma. Related Posts Banking Committee: Videos of CEOs’ opening statements 11 Feb 2009 Soros: ‘Markets have moods’ 1 Jul 2009 Soros: ‘the dollar is a very weak currency except all the others’ 1 Jul 2009 More About:

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Galbraith, Stiglitz and Soros on resisting the inevitability of the Greek debt crisis

Edward Harrison — Sat, 10 Apr 2010 14:00:48 +0000

I would love to have gone to the Institute of New Economic Thinking (INET) conference in Cambridge, but the timing was wrong for me. The effort, sponsored by George Soros, is a much needed collaboration of ideas to help prevent a crisis like the one we are now experiencing. Marshall Auerback reported yesterday on some

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Make Markets Be Markets: The Report

Edward Harrison — Fri, 05 Mar 2010 12:56:55 +0000

This is the second in a series of posts about ideas for financial reform generated by the “Make Markets Be Markets” conference I attended yesterday in New York City on 3 Mar 2010. Below is a compilation of all the ideas for financial reform presented by the group of financial professionals. It includes presentations by

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Why is George Soros buying gold if it’s in a bubble?

Edward Harrison — Mon, 01 Mar 2010 20:43:16 +0000

A lot of media outlets have noticed that, despite George Soros’ protestations about the rise in gold prices being excessive, Soros Fund Management have invested a lot more money in gold after he made his apparently gold-bearish calls. What gives? Apparently, Soros is a market-timing momentum investor because his comments in the Australian demonstrate that

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Links: 2010-03-01 – Obama is not FDR, George Soros, gross misconduct and more

Edward Harrison — Mon, 01 Mar 2010 20:25:34 +0000

A few words about the last link. When I checked, there were 600+ comments on the post about the Washington Hospital Center firing nurses for the “gross misconduct” of missing work during blizzard conditions. The comments were running 9 to 1 against the decision. I applaud the outrage people are finally showing for the callous

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Soros: ‘Markets have moods’

Edward Harrison — Wed, 01 Jul 2009 13:44:32 +0000

George Soros believes regulators “will always be wrong.” But, he does not feel that gives them an excuse to fall asleep at the wheel. In this video conversation with the Wall Street Journal’s Alan Murray, Soros makes the case for regulatory reform, citing the need to expand beyond targeting money supply because “markets have moods.”

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Soros: ‘the dollar is a very weak currency except all the others’

Edward Harrison — Wed, 01 Jul 2009 12:18:15 +0000

Update 19 Jan 2010: In light of Euro weakness and the fissures in the Eurozone economy, one should how the dollar is going to fall precipitously as many have been arguing for months. The Chinese have pegged their currency, the Eurozone has its own problems, the Brits, Japanese and Swiss are running the printing presses

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George Soros: Europe is headed for recession

Edward Harrison — Thu, 11 Sep 2008 17:00:00 +0000

I just spotted an interview in L’Express with George Soros while he is in France plugging his book on the credit crisis. His overall point is that markets are not efficient. They tend to excess. Present regulatory controls and banking standards are inadequate to deal with this. Therefore, we must change regulation to adjust with

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George Soros: the credit crisis of 2008

Edward Harrison — Thu, 11 Sep 2008 14:00:00 +0000

George Soros recently released an interesting book called “The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means.” The book critiques the new ‘efficient markets’ paradigm that has come to both control the financial marketplace and take a predominant place in economics departments at schools of higher learning. It should

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Soros calls credit crisis the worst since ’29

Edward Harrison — Tue, 20 May 2008 23:52:00 +0000

George Soros claims that we are experiencing the most wrenching times in our financial system since the Great Depression. One has to be either appreciative of his advice or envious of his wealth. He made $3 billion in 2007 as a hedge fund manager while the debacle unfolded. “We are in the midst of the

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