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I've noticed alot of criticism coming from George Soros out of the World Economic Forum in Davos, Switzerland about how things have been handled in the last six months and how the US Dollar is losing favor in the world. No matter what you think of Soros, when he starts talking about currencies, you'd better listen. He's got a good track record in that regard.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aaqgpmbosZVM&refer=h...
``The current crisis is not only the bust that follows the housing boom, it's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency,'' Soros said in a debate today at the World Economic Forum in Davos, Switzerland. ``Now the rest of the world is increasingly unwilling to accumulate dollars.''
Soros and former U.S. Treasury Secretary criticizing central banks at Davos:
Summers Points at Central Banks on Asset Declines
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajD.dVae23U4&refer=h...
Yes from many reports the mood at Davos is far from festive.
http://www.bloomberg.com/index.html
Video of Noriel Roubini ,NYU Professor, from Davos this morning. Rate cuts, stimulus package like ,"Pushing on a string". Good analysis IMO.
Yes Roubini has been seeing this correct for some time.
,"Pushing on a string".
Yes, and in the real world it takes cheep, abundant, oil to PULL the string.
First time I'd seen him. No equivocation.
Yeah, hey Souperman is there still a bowl of soup on in Eugene if we ever get down that way?
Yes xburb, just say hi to the freaky Guy Fawkes looking dude.
Slightly north of Eugene a little town called Coeur Valle (Courvallis)
I am willing to host a TOD gathering anytime. Any takers?
It'd be great!
souperman, my spouse and I will be at a contra dance weekend in Feb. We will look you up.
Probably why my kids never read twain in school.
He's a perennial favorite with the censors. As we speak his books are banned in libraries all over the US, and this statement never seems to go out of date!
>>Now the rest of the world is increasingly unwilling to accumulate dollars<<
You think that unwillingness is going to translate into action!