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Soros Demands Billions More US Spending

From a worshipful Der Spiegel via a worshipful Reuters:

Soros says U.S. needs billions more in aid measures

Sat Nov 22, 2008

BERLIN (Reuters) – The U.S. economy needs additional support measures of between $300 billion and $600 billion to help it withstand the financial crisis, U.S. billionaire investor George Soros was quoted as saying by a German weekly.

Soros, one of the world’s first and best-known hedge fund managers, told Der Spiegel magazine the United States needed an infrastructure programme, as well as a large economic stimulus package to provide its cities and states with sufficient cash.

“It has exceeded my most daring expectations,” Soros told Spiegel weekly in an advance copy of an interview due to be published on Monday.

He was referring to the scale of the international financial crisis.

The U.S. government has launched a $700-billion financial bailout initiative in response to the turmoil.

But Soros criticized U.S. Treasury Secretary Henry Paulson for having reacted too late to the crisis.

“He only reacted to the problems after they emerged. He did not have the ability to see these problems coming,” Soros said, adding Paulson had been “totally unprepared” for the bankruptcy of investment bank Lehman Brothers.

Soros said he had high expectations of the ability of President-elect Barack Obama to take appropriate measures.

“The duration of the crisis depends on the success of his policies,” Soros said, according to Der Spiegel. “I have high hopes on Obama.”

Er, lest we forget, according to Forbes the criminal Mr. Soros has been the second biggest profiteer in the housing crisis:

Perhaps he should give some of his ill-gotten gain back to the US taxpayers?

This article was posted by Steve on Saturday, November 22nd, 2008. Comments are currently closed.

21 Responses to “Soros Demands Billions More US Spending”

  1. bill says:

    Windfall profits tax anyone?

  2. proreason says:

    “It has exceeded my most daring expectations,” Soros told Spiegel

    Curious choice of words.

    Who has “expectations” of a global financial catastrophe? “fears” perhaps, “dread”, “projections”…..but “expectations”…..it’s almost as if he is saying he knew something was in the works, but it got a little out-of-hand.

  3. GuppyNblue says:

    From an AIM Report written in 2004
    Cliff Kincaid is writing about Soros’ financial and organizational support of candidate John Kerry.

    “Writing in Insight magazine, Kenneth Timmerman raised the possibility that Soros could use his knowledge of global financial markets to cause a stock market crash just before the election to undermine Bush. ” – 6th paragraph down here.

    About the “Paychecks to Die For” list. As I understand it, Paulson thought of the scheme of shorting the subprime market. Soros was impressed and approached him to learn how. They say Paulson at least feels guilty about it ( he donated $15 million to the Center for Responsible Lending) but Soros never does. Soros calls our economic system unjust and is determined to bring it down.

    BTW – It’s nice to see T. Boone Pickens made that list.

  4. curvyred says:

    Clovard-Piven, I am thinking.


    “First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and Frances Fox Piven, the “Cloward-Piven Strategy” seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse. “

  5. Anonymoose says:

    “It has exceeded my most daring expectations,”

    Maybe the Great Manipulator had a slip of the tongue? I truly despise this man, as it seems the whole purpose of his existence is to remake the US into his own idea of what we should be, and almost none of it I agree with.

  6. proreason says:

    Obama clinches the nomination – Jun 3 – SP500 closed 1360
    McCain takes the lead in gallup polls – Sep 8 – SP500 closed 1267
    Nov 3, pre-election day – Nov 3 – SP500 closed 966

    Voter greatest concern on election day? the economy

    Gee that Obamy sure is lucky.

  7. proreason says:

    Obama clinches the nomination – Jun 3 – national avg gasoline price – $3.80
    McCain takes the lead in gallup polls – Sep 8 – national avg gasoline price – $3.43
    Nov 3, pre-election day – Nov 3 – $2.10

    McCain’s biggest positive issue during the summer? oil indepenence

    Gee that Obamy sure is lucky

  8. proreason says:

    Obama clinches the nomination – Jun 3 – McCains biggest issue: Obama’s inexperience
    McCain takes the lead in gallup polls – Sep 8 – McCains biggest issue: Obama’s inexperience
    Palin’s interview with Charles Gibson – Sep 11
    Palin’s interview with Katie Couric – Sep 24

    Major concern of voters on election day – Palin’s inexperience.

    Gee that Obamy sure is lucky

  9. 1sttofight says:


    You will find this article about subprime lending interesting.


  10. GuppyNblue says:

    Thanks. I do recognize the excesses that were taking place and agree with Lewis that it was unsustainable. When I personally had money in stocks I paid attention to this and used to get pretty pissed off. I couldn’t stand it when shareholders ate the loses while the failed CEO would be dismissed with enough money to buy an island. While we’re at it, I also feel we’ve moved to close to oligopoly. We should never have a situation where one corp fails and the whole country suffers.

    But no one moves the markets like the giants. Soros has a history of profiting at the expense of entire nations. He said it himself that he considers the United States a fascist tyranny and that tearing it down is “the central focus of my life.” On top of his market influence he has his extensive political influence focused on achieving the same result. He donates a lot of money to groups like ACORN which, as we know, were pushing for subprime lending.

  11. 1sttofight says:


    What do you think is Soros end goal ? I mean after he destroys the US , what do you think he wants to replace it with? Him as king of the world?

  12. GuppyNblue says:

    I don’t believe he’s the single person orchestrating our demise. There are others and I’m seeing that they’re all good friends. I do believe his efforts are to destroy our system of government so that a new one may step in. He’s repeating what he did in Georgia’s Rose Revolution. He spent $42 million dollars (a lot money in Georgia) to oust Shevardnadze and succeded. The man has way too much of this kind of history and way too much influence in our nation for not being elected.
    Still, I got my vote. :(

  13. 1sttofight says:

    trilateral commision?

  14. GuppyNblue says:

    trilateral commision?

    Along that line. Soros favors a global (in his case UN) opinion over ours and isn’t shy about it. IMO his end goal is global socialism. It’s probably easier for an out-of-touch billionaire narcissist to escape being on the bottom end of that deal.

  15. DGA says:

    As I’ve said before on here, soros is as big of a threat to this country as bin laden was in 2000. Look at the financial cost that bin laden brought on, which was his intent all along, and compare it to soros being behind the subprime market crash, and the two parallel each other in a lot of ways. Hopefully soros isn’t long for this world, but the damage he wreaks will carry on with us poor slobs for decades.

  16. proreason says:

    Dow Jones returns between Jan 1 and Nov 3 in election years:
    % return year
    18.82 1996
    17.19 1988
    16.33 1964
    14.94 1972
    12.92 1944
    12.42 1980
    12.11 1976
    11.46 1992
    8.74 1968
    5.14 1948
    2.65 1952
    2.49 2004
    0.83 2000
    (0.63) 1956
    (5.38) 1984
    (12.06) 1960
    (30.24) 2008

    Notice anything peculiar about 2008? A statistician would say that year doesn’t make sense in a rational set of data.

    About 2/3 of the decline in 2008 happened in the 8 weeks after McCain took the lead in the polls.

    What you are looking at is one of 2 things:
    a) Obamy is the luckiest candidate of all time, or
    b) Mr. Soros and Obamy’s other kingpins happily destroyed the lives of millions of Americans to get their Socialist elected.

    If you are facing unemployment, it isn’t because of Bush’s economy. It is because of them. If your 401K has dropped by 50%, it is because of them. It wasn’t mere happenstance or the normal “ups and downs” of the market.

    1932’s decline in the same period was 34.07%, for those of you denying that a Depression can happen. The worst year of all was 42.51% in 1931. 2008’s lowest point so far has been a loss of 43.3%. 2008 is at best the 3rd worst year since 1928….so far. Pretty coincidental huh? Of course, the drain on the American economy from “Bush’s” war is between 1 and 2% of the GNP. Maybe that did it. Maybe the 3.1% growth in the GNP in Q2 did it. Maybe the 5% unemployment in Q2 did it.

    Lehman Bros filed for bankruptcy the first weekend after McCain took the lead in the polls. Speculators like Soros can’t manipulate an entire market, but thay can drive individual companies into bankruptcy, and such an event can affect the entire market

    This analysis took me 90 minutes with data readily available on Yahoo. Why isn’t anybody in the media interested in why over $10 trillion in wealth has been sucked out of the American economy?

    Want to bet a similar analysis on the price of gasoline wouldn’t have similar results? Oil independence was a big issue for McCain. My prior post showed that the price dropped 39% in between the time McCain took the lead in the polls and election day. Want to bet that gas could be found regularly under $2 per gallon in all of the battleground states the weekend prior to the election. It was as low as $1.91 per gallon where I live. Nobody worried about the price of gas until it pushed $4. About that, Obamy has said that he didn’t mind it, but he didn’t want it to happen “so fast”.

    By the way, the Dow consistently understates the impact to the total market, because the Dow companies are the most stable American businesses. At the lowest point so far this year, the S&P500 has been down 52%. The S&P500 represents about 85% of the market value. Small stocks (not included in the S&P500) peaked down 55%…so far.

  17. Steve says:

    Great post, PR.

    “Lehman Bros filed for bankruptcy the first weekend after McCain took the lead in the polls. Speculators like Soros can’t manipulate an entire market, but thay can drive individual companies into bankruptcy, and such an event can affect the entire market”

    And, lest we forget, Mr. Soros has been talking down the economy big time — since January.

    He has told anyone who would listen that the end of a 60 year cycle of boom was over. And that the US is no longer the world’s economic leader — for China is.

    And as we noted above, Soros just happens to have been the second biggest profiteer during this financial crisis. (And that is just what is showing.)

    All of this and much more points to the accuracy of your comments, PR.

    It is no accident that we got what we got — and when we got it.

    This ‘crisis’ has the liver spotted hand of George Soros all over it.

  18. Helena says:

    Very interesting PR and SG. Watching the price of gas drop like a stone did leave me pretty cynical about the whole thing. There’s no way it was coincidental. Someone did it intentionally. And as I think SG pointed out, Soros, normally very tight-lipped about his plans, suddenly went on an editorial writing binge in the run-up to the election talking doom and gloom and disaster. Soros has been preaching the breaking down of international barriers for years, It’s ironic that international law hasn’t advanced to the point that charges can be brought on a “world citizen” who destroys an economy. He’s still a wanted man for his manipulations of the markets in Europe. Just so they don’t break down any barriers he can hide behind, eh?

  19. proreason says:

    Here’s an analysis that makes it even more obvious:
    Dow Jones average from Sept 1 to Oct 31 in election years.
    return year
    7.36 1996
    6.53 1936
    6.29 1968
    5.97 1988
    4.13 1964
    4.01 1940
    3.62 1948
    (0.31) 1944
    (0.85) 1972
    (0.87) 1980
    (0.90) 1976
    (0.95) 1992
    (1.23) 1984
    (1.40) 2004
    (2.13) 1952
    (2.21) 2000
    (4.42) 1956
    (7.29) 1960
    (15.39) 1932
    (19.13) 2008

    Who would have imagined that the pre-election market in 2008 would be the all-time worst, including the height of the Great Depression, particularly considering:
    Unemployment was 5% in Q2
    Growth was 3.2% in Q2
    CPI was 5.4% (2% above history) for the prior 12 months, but with a slight drop in August
    Personal income was up 1.4% in the 3 months preceding August and rose again by 1/2% in Aug
    Average PE for the market in August was about 14-17, right at historical norms
    The war in Iraq had ended
    The government had already indicated commitment to growth via a large stimulus package
    The market had already dropped 18% for the year for no apparent reason

    It’s almost as if something out-of-the-ordinary happened in those 2 months, isn’t it?

    To recap, even though key economic indicators measured at normal or close to it, the market in 2008 dropped more in the two months prior to the election than EVER BEFORE, including the height of the Great Depression. Who could have imagined?

  20. DGA says:

    Very nice work PR, SG, this is about how I was guessing it had gone down for some months now but had no real data to back it up. So very frustrating, soros isn’t an elected official that we can boot out, and if he’s broken any laws I’m sure he has covered his tracks very well. Not looking for the MSM to report even a tiny bit of this, maybe talk radio can work it all over and bring it all to light. Rush, Mark Levin, Rusty Humphries, Neil Boortz, are you reading this?

  21. mybrotherkeeper says:

    George Soros just shared this with me. I pass it on to you, on threat of my life: “When my puppet, Kerry, lost, I swore to never lose again; so I threw out the rule book. I thought, if I win next time, then I will finally find nirvana. I puppet-mastered Obama to victory. But I’m still not happy. Well, better to reign in hell, than serve in heaven. My misery will encompass the whole world. If I’m not happy, no one will be.”

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