Wednesday, October 15, 2008

Soros predicts end for U.S.-led market system

update: The linkage to Lisbon

'THE LISBON Treaty will increase the EU's capacity to respond to crises as well as its capacity to prevent crises through coherent and consistent policies."

Making this linkage between the treaty and the world financial turmoil at yesterday's European Union summit in Brussels, Commission president José Manuel Barroso said this fundamental issue would have been better managed had the treaty been adopted. The argument for it, he said, is made stronger every day the crisis continues...."

(more here:)
also here:Govt to bring forward plan to address Lisbon fallout
and here: Crisis shows EU needs Lisbon Treaty, says Irish leader

Soros sees end of US-led globalized market system - Can he save the world?

"WASHINGTON, Oct 12 (Reuters) - Billionaire investor George Soros predicted on Sunday that the financial crisis would mean the end of a U.S.-led market system that has dominated the global economy with debt and deregulation since the 1980s.

"Globalization, America as the center of the globalized financial markets, was sucking up the savings of the world," Soros said in a CNN interview.

"This is now over. The game is out. It does mean a very serious adjustment for America," added Soros, a staunch backer of the Democratic Party.

...Jeffrey Sachs, special adviser to U.N. Secretary-General Ban Ki-moon and director of the Earth Institute at New York's Columbia University, appeared to agree with Soros. ..."
(farmer: They all work at the Eath Institute, Bono from U2 included, the consequence would be that the EU would take the lead...)
LINK(this news)
LINK(Bono, Soros)
stay tuned!


björn (farmer) said...

Government unveils 'Big Brother' plan: Now they want to snoop on every phone call, email and text message

Joyce said...

Soros is a big player in Obama's campaign too:

.....and not too fond of Israel


björn (farmer) said...

please refresh to see the Lisbon-linkage update, if it doesn't show yet...

Rudi said...

Hi Bjorn,
Re: The Lisbon Treaty
Just finished reading this report which summarises the first “Citizens’ Controversy” of the Madariaga – College of Europe Foundation, held on 15 September 2008. It is titled "Taking the Irish no for a Question"
"The Irish experience in this
respect is particularly telling: citizens voted against the Treaty despite concerted calls for
its endorsement - not only by the newly re-elected government,
but by all political parties (except Sinn Fein), trade unions, businesses and even the Catholic Church."
Hurrah for the Irish!!! Those who cherish freedom pay heed.

Found the report above, in addition to some other very interesting pieces of news here:

The report to come following the
November 12, 2008 "event" "What EU Financial Regulation After the Crash" should be a gem... -Rudi

Joyce said...

More on Bono:


Paul said...

Shouldn't we refer to it as Big Sister ?
S.I.S. Schengen Information System


Paul said...

also, a line from "Up To Me" by Bob Dylan which reminds me of the Irish in all this:

...I was just too stubborn
to ever be governed
by enforced insanity
Somebody had to pay the price
I thought it must be up to me__

Thanks Bjorn,

björn (farmer) said...

"All of the currently awkward questions, from climate protection to the Irish rejection of the Lisbon treaty, have been casually postponed until the next summit in December. No one wanted to argue about the minutiae now, this was a time for vision.

And now the Italian Prime Minister Silvio Berlusconi has taken a step into the limelight with his serious suggestion that Russia joins the EU "in coming years." The media mogul admitted he had toyed with this idea "for years." No one laughed. "

from the EU summit "Flash Gordon or Super Sarko?"

björn (farmer) said...

"US and European leaders have agreed to hold a series of summits to reform the global financial system to make it more resilient and ensure continued prosperity in the world.

US President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Manuel Barroso said in a joint statement released after their talks that the first summit would be held in the United States "soon after the US elections" on November 4."

joyce said...

HI Bjorn,
Here's the quote from the IHT article on the same subject:

Barroso said, "Together, we should show the way towards an international response," adding, "We need a new global financial order."

In case you want to see the whole article and the silly looking grins on the faces of the dynamic trio, Sarko, Bush and Barroso.


Anonymous said...

Don't forget Sach's role in the "shock therapy" of Russia'a economy and his ties to Mikhail Gorbachev.