George Soros, the man who broke the Pound Sterling, is back at it again. This time it's Germany and, according to George, the ridiculous idea that government debt isn't the best thing in the world.
Read it here.
Germany's fiscal policy - which, by the way, is nothing new - isn't a threat to stability and democracy in Europe.
Rather, it's a threat to George Soros and his ability to make money off of other people's troubles.
Good old Paul Krugman is quoted again, saying that he doesn't have any trouble balancing the books in 10 years, but right now, we gotta spend, spend, spend.
What Dr. Krugman doesn't realize is that government debt, if it were to continue to spend, spend, spend, won't be able to be balanced in 10 years, or even 20. We're well past the point where Keynes would say that it is necessary to spend our way out of a recession: we're at the point of wide-spread fiscal irresponsibility.
But that's the way George Soros likes it: get the governments of the world so heavily in debt that they become truly subservient to the financial sector.
Hence: the best argument for fiscal austerity is that George Soros is against it.