Suppose you are the head of a family. A family that for years has spent more money then you and your significant other made. Your credit cards are maxed out, the bank and assorted credit institutions are sending increasingly threatening letters.
You decide that financial sanity must return. So you tell your family that the days of expensive shiny new toys and luxury are over. From now on, your family will have to live within the means that are provided. Additionally, you announce your intention to start paying off the debt you and your family have built up over years of care-free (or rather: careless) living.
Your adolescent children are throwing a hissy-fit as you try to explain that the situation now is dire, but still manageable. At the end of it they will at least still have a roof over their head and three meals a day. Something they will not have when the family continues as they do now for another year.
Then one day somebody you consider a friend comes by and tells you that ‘you do not know what you are doing’. Instead of trying to responsibly manage your financial affairs, he counsels spending even more money you do not have, because else the harmony in your family (what with unruly adolescents and all) will be threatened. In so doing he completely ignores (and tells you to disregard) the looming foreclosure of your home and imminent bankrupt homelessness of you and your family.
Now for the question: Is this person A) a trusted friend offering well-meant advise or B) a bitter enemy who wants to see you and your family ruined for whatever vile, backhanded reason as moves him to offer such counsel?
This is the question that Angela Merkel must consider urgently, as George Soros (aka Dr. Evil) tells Merkel that Germany clearly “does not know what it is doing.”
The financier- philanthropist said last week that Germany is endangering the European Union by keeping wages down and pursuing a balanced national budget too aggressively. Germany’s parsimonious attitude, Soros suggests, may bring down the euro.
You get the feeling that Soros is speaking directly to Angela Merkel, trying to give the German chancellor a kindly tutorial. In a speech at Humboldt University, Soros said that Germany had understandable reasons for pursuing thrift. But, he added, the country should spend more and advocate aggressive spending and looser money by the European Investment Bank and the European Central Bank, respectively.
Soros implied that Germany should look to the U.S., where President Barack Obama has spent vigorously and Federal Reserve Chairman Ben Bernanke has created money for the greater good.
Remember, this is the man who made his fortunes by ‘breaking the Bank of England’, forcing the UK out of the European Monetary Union (which in hindsight may have been a blessing in disguise).
Could it be that this loathsome man is offering Merkel his counsel because he wants to repeat his little trick with the euro? A trick he could not perform if the eurozone were to break up, or if (unlikeliest of unlikely) the euro became a stable currency again?
Whatever his motivations, through is ‘advise’ Soros clearly communicates he has some ulterior motive, does not have Germany’s best interest at heart. Mrs. Merkel would do well to be very weary of this ‘financier- philanthropist’. Evidently, he is a bitter enemy who wants to see Germany ruined for whatever vile, backhanded reason as moves him to offer such counsel.