Soros: Danger Of Collapse Has Passed

There's only one conclusion to draw from prognostications coming from a world expert in arbitrage and short selling: Anything that comes out of his mouth supports whatever financial positions he has taken -- and his hedges. If the prognostications are right, he wins. If they are wrong, he still wins.

It's long-overdue time for common sense to trump 'expert' advice, such as with racking up ga-ga federal deficits and debt, or handing AIG $20 billion in US taxpayer money so AIG can cover it's derivatives marker to Goldman Sachs and European banks, or throwing a party with taxpayer money to 'lure' private investors into getting 50% of all the profits and almost none of the losses associated with 'toxic assets.'

And the too-big-to-fail razamataz rationale for all the fiscal irresponsibility? Break up all the too-biggies, don't throw taxpayer money at them. Most of all, recognize that what is at stake here is the wheeling-and-dealing status quo of the financial and political worlds, not the world you and I live in as people who work for a living and pay all the taxes. They-the-few need us-the-many WAY more than vice-versa. We daily create the value they play long and short with. Without us, they've got squat.

How about everybody grow out of their wanting-to-believe and instead grow a pair, and from now on be willing to say to all the 'experts' "Yeah, well, compared to what's right and what's wrong -- you're the third handle on the chamber pot."

dom youngross 6:03PM April 07, 2009