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 SOROSTo my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.
More George Soros Quotes
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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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Misconceptions play a prominent role in my view of the world.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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The global crisis is caused by pathologies inherent in the global financial system itself.
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Markets can influence the events that they anticipate.
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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.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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Revolutions usually start with enthusiasm and end in tears.
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There is no point in being confident and having a small position.
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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
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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