Soros, ignorant in economic theory?

D

Daal

In Alchemy of Finance pg 122 he says "a strong dollar leads to a high trade deficit which weakens the economy". Was he mad when he wrote this?
 
Quote from Daal:

In Alchemy of Finance pg 122 he says "a strong dollar leads to a high trade deficit which weakens the economy". Was he mad when he wrote this?
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I don't know about economy, but one thing is sure : he has no clue about physics. I stopped reading the book as of page 18...
 
Quote from Trader28Lite:

So he wrote a book that you all disagree with but paid money for it?.... he's a genius
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Because of course you are so clever that you know a book content BEFORE reading it...
 
Quote from science_trader:

Because of course you are so clever that you know a book content BEFORE reading it...
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Yeah I really should be accusing the gazillionaire of being clueless like you two geniuses are doing
 
Quote from Trader28Lite:

Yeah I really should be accusing the gazillionaire of being clueless like you two geniuses are doing
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You forget that the people whom he hired and made him rich disagree with him on this and a lot of other issues
 
Quote from Daal:

You forget that the people whom he hired and made him rich disagree with him on this and a lot of other issues
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Really... well perhaps he'll find some comfort in his 7 billion dollars for being so "wrong"
 
Quote from Daal:

In Alchemy of Finance pg 122 he says "a strong dollar leads to a high trade deficit which weakens the economy". Was he mad when he wrote this?
More...

like science trader I got rid of it after looking into around 20 pages.. the book is almost a scam.. I instantly realised he would not give an inch of his true philosophy in the book (not surprising) and just talk shit and make it sound nice..


anyways, out of interest, what is actually wrong with the statement ""a strong dollar leads to a high trade deficit which weakens the economy"?

as far as economic theory goes, it seems reasnable. when $ is strong, imports go up, exports go down, hence widening of the deficit. recently dollar has gotten very weak and only in the past weeks the deficit has started to decline sharpley.

what is in fact "ignorant" is for those who didn't take econ101 to argue on the topic. it takes great econ students (e.g soros @ LSE) to truly appreciate how complex the economy is and how many variables and measures can possibly influence each other, and it would take a genius to perfectly get it right. as far as this goes, the statement is perfectly reasnable - ceteris paribus.
 
If I gave you a check for one million dollars and prohibted you from working
and guaranteed that you would get your job back when you run out of money would that make you poor?
 
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