Soros smells blood

by slenderdog | January 23, 2008 at 06:02 am

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He said over the past few years politics had been guided by some basic misunderstandings stemming from something which he called "market fundamentalism" -- the belief financial markets tended to act as a balance.

"This is the wrong idea," he said. "We really do have a serious financial crisis now."

One wonders how a billionaire investor buys into the class warfare myth. But not too much. Soros made £1 billion short selling sterling in 1992 on Black Wednesday, thanks to Britain's commitment to the ERM. There's nothing he'd love more than a strong interventionist administration in Washington. They'd give him a nice backstop on which to crucify the dollar. The dollar is weak, and Soros smells blood.