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Soros Says No To Cuts, O E C D Says Cut

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You say yes....................


I say no

Or as Bill "William" Shakespeare woud put it: to cut or not to cut that is the winter of our discontent. :D

Its really we buggered if we do and buggered if we don't.

What would I do: cut and let the chips fall where they may.

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Soros is nothing if not consistent.

Anything liebour does = goodAnything tories do= bad

I put him in the Blanchflower, Krugman etc category.

From the Telegraph farticle:

Mr Soros indicated he had some sympathy with Mr Osborne’s plans. “They may have been right in embarking on it,” he said. “The initial reaction has been very positive.” Bond markets have reacted favourable since the June Budget, despite the UK holding the worst deficit in the OECD.
He added that he did not know enough about the UK economy to prescribe a solution, but in discussing the US’s similar debt concerns said more fiscal stimulus was needed.
However, he clarified that stimulus measures which target consumption, as Ed Balls has called for, are not effective.

I don't think he is too impressed with the Balls creature who just "opposes" rather than come up with viable strategies.

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Have to question his agenda, you see what will he lose as the UK economy shrinks more this year? Likewise as the UK cuts kick in this will ripple out to other countries as the UK consumer market contracts. This in turn could reduce global growth, which in turn could affect his investments.

I think its good the UK is taking this action, financial war can be played in many ways, so the Chinese wont let their currency appreciate then its probably best to do whats needed to get your currency lowered to claw back some of the production the chinese enjoy becuase of our previously high value pound.

The pound is taking off again as 2 muppets indicated they would prefer rate rises (perhaps, but unlikely, before they knew the economy was starting to collapse). As long as we have higher rates that the US and EZ money will be parked in our bonds.

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Soros qualify his comment with this:

You need fiscal stimulus, not necessarily for consumption but to improve competitiveness,” he said, indicating that investment in infrastructure is better than tax giveaways. “Too large a part of the stimulus went into consumption, which perpetuated the problem.”

This is what we all know. 20 years project for High speed rails, better roads, better schools, better broadband, better airports.

The NIMBYs certainly won't allow most of these, however. How dare anyone every contemplating building a 3rd runway on Heathrow...

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What bets has Soros made?

Then we can judge his words.

I am not sure he made any Crimbocasts. He would normally tell us that something was a bubble to cause some selling and then buy in ready to dump again after a ramp.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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