Skip to main content

See also:

George Soros bashes Tea Party, laments 'absence of proper global governance'

Billionaire and left-wing activist George Soros
Billionaire and left-wing activist George Soros
Reuters

In an OpEd re-published at the Moscow Times on Sunday, regarding his perception of the state of the global economy, billionaire George Soros made several radical observations.

Most of the coverage has been surrounding Soros' views on a potential Chinese debt disaster, as discussed at Bloomberg and the Sydney Morning Herald.

But he made some other very revealing statements.

After noting that "All of the looming problems for the global economy are political in character," he decried austerity, claiming that that the European Union "could easily be destroyed" by "stagnation."

Soros said that policies imposed by Angela Merkel of Germany in the wake of the 2008 economic crisis are "are giving rise to extremist movements," citing her insistence that "each country should look after its own financial institutions and that government debts should be paid in full."

He wrote,

"While French Prime Minister Aristide Briand's insistence on reparations led to the rise of Adolf Hitler, Merkel's policies are giving rise to extremist movements in the rest of Europe."

Regarding the United States, Soros praised the "Republican establishment" for "fighting back" against the Tea Party, who he referred to as a "coalition of religious and market fundamentalists." Soros expressed anger over the so-called "government shutdown" and relief that "the fiscal drag exerted by sequestration is also about to expire."

He wrote,

"...the polarization of U.S. politics shows signs of reversing. The two-party system worked reasonably well for two centuries because both parties had to compete for the middle ground in general elections. Then the Republican Party was captured by a coalition of religious and market fundamentalists, later reinforced by neoconservatives that moved it to a far-right extreme...Eventually, the Republican Party's Tea Party wing overplayed its hand. After the recent debacle of the government shutdown, what remains of the Republican establishment has begun fighting back, and this should lead to a revival of the two-party system."

Soros finished his OpEd by saying,

"The other great unresolved problem is the absence of proper global governance."

Follow Renee Nal on Twitter @ReneeNal and Facebook.

Check out her news and political commentary on Liberty Unyielding, Gather and TavernKeepers.com for news you won't find in the mainstream media. Renee is also a guest blogger for the Shire Blog.