The Decline of George Soros

George Soros has a reputation as a very savvy investor and that can't be disputed; his track record speaks for itself. But if this video is any indication of how his mind works, I don't think I'd be willing to hand him any money now. Maybe he's just getting old and senile, but if this is how his thought process worked when he was managing money, I'm not sure that he wasn't just extraordinarily lucky. In this video he attempts to blame Ronald Reagan for our current economic problems. Early in the video he says that Reagan advanced the idea that markets are self correcting but he claims that isn't true. To prove his point he details all the ways the government has intervened in the economy over the years and says, see, the market didn't correct itself, the government did it.

The debt we've built up, especially over the last 30 years or so, is because the government never allows the market to correct itself. How would the last 30 years disprove the idea that markets correct themselves when they haven't been allowed to correct. Every time the market tries to correct the excesses, the Fed steps in to mitigate the effects of the market trying to correct. The only thing that proves is that government can, for a while, prevent the very corrections that are needed. Our economy would be in much better shape today if the government hadn't stepped in every time the market tried to do its job. Soros is either losing it or never had it. Here's the video:

Soros Blames Reagan