Global overproduction! - Soros

Arno Mong Daastøl arnomd at
Sat Jun 13 08:12:30 PDT 1998

Talk of "overheating" as well of inflation are more or less talk of badly spent and distributed resources: Instead of making revenue go to make production more efficient and distributing revenue so that the produce may be bought, we get these insane results. Loads of financial (and produced-goods)capital that have no apparent and in particular sound "goal" - and therefore go to speculation on the first instance and to waste in the second. Both waste largely.


Arno Mong Daastøl Utsiktsveien 34, N-1410 Kolbotn, Norway Ph: +47.6680 6373 / 6680 6523 Fax: +47.6680 6373 Cellular: +47.9002 4956 Cellular fax : +47.9403 5650 Email: arnomd at URL: My ICQ# is 11869628 Download ICQ:

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-----Original Message----- From: owner-lbo-talk at [mailto:owner-lbo-talk at]On Behalf Of Jim heartfield Sent: 13. juni 1998 12:48 To: lbo-talk at Subject: Re: Global overproduction! - Soros

In message < at>, Chris Burford <cburford at> writes
>George Soros who made billions speculating on the fall of the pound in
>1993, is on record today lamenting the crisis of "global overproduction" -
>clear - and of "global inflation".
>I do not get the latter. What is he on about, and why?

I read this as Soros endorsing the elite campaign against 'over- heating', which is to say for low growth. Inflation is a bit of a red herring and the fulminations against it coming mostly from central banks are a cover for high interest, low-growth policies favoured by ruling elites in the West.

(Incidentally, 'Global overproduction' is a myth, too. As long as human wants remain unsatisfied, it is ridiculous to talk of 'overproduction' in absolute terms. It can only mean overproduction relative to the restricted consumption fund set by the markets) -- Jim heartfield

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