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What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.

George Soros

If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
GEORGE SOROS

Concept Forever Maintain
Discount the obvious, bet on the unexpected.
GEORGE SOROS

Discount Expectation Inspirational Risk
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
GEORGE SOROS

Assumption Poor Start Wrong Yourself
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
GEORGE SOROS

Government Misery Poverty Weakness World
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
GEORGE SOROS

Discover Greatness Marketing Rise Similar System
It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
GEORGE SOROS

Important Lose Money Right Wrong Yourself
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROS

Better Mistake Move On Opportunity Quick Trade
If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
GEORGE SOROS

Care Democracy Establishment Freedom Guard Institution Safe Universe
The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
GEORGE SOROS

Determination Economics Function Marketing Role
It is credit that matters, not money (in other words, monetarism is a false ideology).
GEORGE SOROS

Fake Ideology Money Word
Markets can influence the events that they anticipate.
GEORGE SOROS

Anticipate Event Influence Marketing
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
GEORGE SOROS

Marketing Myself Opposite Right Wisdom
The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
GEORGE SOROS

Follow Institution Performance Relation Trend Trouble

What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.

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What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.

Related Topics

Popular Authors

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