Global overproduction! - Soros

[Arno Mong Daastøl]

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

Arno Mong Daastøl
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or:
University of Maastricht, Department of Public Finance,
P.O. Box 616, NL-6200 Maastricht MD, The Netherlands,
Ph: +31.433 883636, fax: +31.433 258440
Email: a.daastoel at algec.unimaas.nl

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

In message <3.0.2.32.19980612202107.006d85b8 at pop.gn.apc.org>, Chris
Burford <cburford at gn.apc.org> 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