George Soros says dig deeper. Watch the brief video here.
He recommends more government spending to bolster a fragile recovering economy. ‘But don’t spend it on consumption’ he says, “spend it on infrastructure.”
But broad based consumption is very the heart of of a strong economy. Infrastructure is just one industry and a union dominated one at that. Soros is talking about Barack’s bridges and roads. Government owns the bridges and roads. Old George is calling for bigger government and greater debt as a way to strengthen the economy. Perhaps he believes that old adage that if you dig deep enough you will come out in China.
I happen to believe Soros is an honorable man. But he grew up in a Communist country and still buys the idea that socialism is the best system, if you can just get leaders to do it right. How can a smart man like Soros be so wrong? For one thing, great wealth, like great fame, is an isolater. It separates you from the rest of the world. Add the guilt many feel for having the wealth and you have reasons enough to see why a good man can be so wrong.