We Are The Most Powerful Nation On

There Is No Doubt That The Countries That Now Have A Very Large Debt Have Not Introduced The Kind Of Structural Reforms That Germany Did And Are Therefore At A Disadvantage. But The Problem Is That This Disadvantage Is Becoming Even More Pronounced Through The Punitive Policies In Place.

Although I Have Made A Fortune In The Financial Markets, I Now Fear That The Untrammeled Intensification Of Laissez-faire Capitalism And The Spread Of Market Values Into All Areas Of Life Is Endangering Our Open And Democratic Society. The Main Enemy Of The Open Society, I Believe, Is No Longer The Communist But The Capitalist Threat.

In Certain Circumstances, Financial Markets Can Affect The So-called Fundamentals Which They Are Supposed To Reflect. When That Happens, Markets Enter Into A State Of Dynamic Disequilibrium And Behave Quite Differently From What Would Be Considered Normal By The Theory Of Efficient Markets. Such Boom/bust Sequences Do Not Arise Very Often, But When They Do, They Can Be Very Disruptive, Exactly Because They Affect The Fundamentals Of The Economy.

The Key Problem Is The Debt Restructuring In The Euro Zone. As Long As The Debt Burden Is Not Reduced, There Is No Chance Of The Weaker Eu Countries Regaining Competitiveness.

I Don't Use My Money To Gain Political Influence For My Private Interests, Which Is What Many Rich People Do, And What, In A Sense, Market Fundamentalism Does, Because It Is In The Interests Of People Who Have A Lot Of Money To Have As Little Taxes As Possible.