Note to Media/Bloggers: Conference Call with George Soros

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soros thinking.jpg
Friday morning (tomorrow) I will be hosting a media/blogger conference call with financier and philanthropist George Soros at 10 am EST.
In a new book released today, The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means, as well as a Financial Times oped that also appeared today, Soros shares his thinking on the current financial crisis — which he argues is “the most severe since the 1930s.”
In order to speed up distribution, Soros has published the book electronically. He also presents his outlook for the global economy in 2008 (which I bet moves markets a bit).
For those who are into this — bloggers, opinion writers and/or media — the conference will begin at 10 a.m. EST. I must send the call-in information to you after you RSVP to steve@thewashingtonnote.com. We have a domestic U.S. number to call — and a number for non-US based journalists and bloggers to call.
I wish I could open this to the entire public — but we don’t have enough lines. I will post the recording of the call for public airing after the meeting is completed.
Here are some lines from the book. . .


From The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means

“The United States is facing both a recession and a flight from the dollar. The decline in housing prices, the weight of accumulated household debt, and the losses and uncertainties in the banking system threaten to push the economy into a self-reinforcing decline.
Measures to combat this threat increase the supply of dollars. At the same time, the flight from the dollar has set up inflationary pressures through higher energy, commodity, and food prices.
The European Central Bank, whose mission is to maintain price stability, is reluctant to lower interest rates. This has created a discord between U.S. and E.U. monetary policy and put upward pressure on the euro. The euro has appreciated more than the renminbi, creating trade tension between Europe and China.
The renminbi can be expected to catch up with the euro both to avoid prote ctionism in the United States and increasingly in Europe, and to contain imported price inflation in China. This will, in turn, increase prices at Wal-Mart and put additional pressure on the already beleaguered U.S. consumer.
Unfortunately this administration shows no understanding of the predicament in which it finds itself.”

— Steve Clemons

Comments

15 comments on “Note to Media/Bloggers: Conference Call with George Soros

  1. Nickolas says:

    I watch your show this morning (WED)when you had the senator from alabama on. I was wondering Why you didn`t ask him WHY he didn`t and all the others senator that were questing the CEO of the auto industries WHY WHY Didn`t ask the OIL Companys to bail them outaftyer all the OIL companys made BILLIONS of profits because the auto companys built all gas eaters. shouln`t they bail them out. Thanks

    Reply

  2. Nickolas says:

    I watch your show this morning (WED)when you had the senator from alabama on. I was wondering Why you didn`t ask him WHY he didn`t and all the others senator that were questing the CEO of the auto industries WHY WHY Didn`t ask the OIL Companys to bail them outaftyer all the OIL companys made BILLIONS of profits because the auto companys built all gas eaters. shouln`t they bail them out. Thanks

    Reply

  3. Nickolas says:

    I watch your show this morning (WED)when you had the senator from alabama on. I was wondering Why you didn`t ask him WHY he didn`t and all the others senator that were questing the CEO of the auto industries WHY WHY Didn`t ask the OIL Companys to bail them outaftyer all the OIL companys made BILLIONS of profits because the auto companys built all gas eaters. shouln`t they bail them out. Thanks

    Reply

  4. Nickolas says:

    I watch your show this morning (WED)when you had the senator from alabama on. I was wondering Why you didn`t ask him WHY he didn`t and all the others senator that were questing the CEO of the auto industries WHY WHY Didn`t ask the OIL Companys to bail them outaftyer all the OIL companys made BILLIONS of profits because the auto companys built all gas eaters. shouln`t they bail them out. Thanks

    Reply

  5. David says:

    Viva Soros, for sure. And thank you, Steve. If there is one website that is the must read, this is it.
    “Hastert’s rants were always a bit puzzling. is it ’cause that, like fdr, soros is some kind of class-betrayer in the gop’s scheme of things?”
    Yes. That, and the fact that in 2004 he did everything he could to try to help spare us from the consequences of four more years of Bush/Cheney. He did his part for this nation he so clearly holds in such high regard, at least the nation we have sometimes been, and could be again, and the nation which held such promise for the world as an amazing experiment in government (but an experiment that could be emulated, not one that could be imposed, certainly not at gunpoint).

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  6. DonS says:

    OT, in case you haven’t seen it, Nir Rosen, Steve’s compadre, speaks truth to power, in this case to Joe Biden in an appearance before the Senate . Nir appears not to be enamored with playing the pussyfoot, nuanced, PC game of, you know, pretending that the US has any shred of credibility left in Iraq. Biden appears a bit chagrined that, you know, Nir hasn’t observed the bootlicking protocol.
    He also seems not particularly coy about outing the US grand strategy for the region; oil and all that.
    BTW, Nir’s book (“In The Belly of the Green Bird” is absolutely worth the read)
    http://thinkprogress.org/2008/04/04/rosen-us-occupation-in-middle-east-is-imperialist/

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  7. Mr.Murder says:

    Viva Soros!
    The demonization of him is simply part of the narrative, the GOP needs to create boogey men to justify their own lagresse and excess.
    Though it would be nice to hear him talk of the mid to late 70s and any influence he may have wielded in our forms of soft coercion then going on re: East Europe and Southern Asia.
    He was an audience to the Carter televised speeches?

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  8. larrybob says:

    one of the mysteries of the early aughts is the origin of the notion that soros is some kind of radical. i’ve never understood why the gop gets their undies in a knot whenever his name is mentioned; Hastert’s rants were always a bit puzzling. is it ’cause that, like fdr, soros is some kind of class-betrayer in the gop’s scheme of things?
    so, an exchange for cdo swaps? my chicago bias is revealed. will it be worth it? will cdos survive this financial storm, or will they disappear like “portfolio insurance” did after 87?

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  9. Mr.Murder says:

    Failure Of Market Forces
    http://cabdrollery.blogspot.com/2008/04/failure-of-market-forces.html
    “Quite possibly, our 401K just became a 200.5k, and we have the deregulator boosters in the GoPervian party to blame. Hopefully, we can make sure they never have the power to wreak this havoc again.”
    Ruth continues:
    “From my son, recently graduated from George Mason Law School, I found out that a ‘classic’ business law study is of the suit brought against Henry Ford by his stockholders. He was busily putting all of his profits back into the firm, and into those excellent wages, rather than pay dividends on investments. When the suit was finally settled in favor of investors, they took the returns and founded Dodge. I have to say that “dodge” now has a whole new meaning for me.”
    Can Mr.Soros please address the lack of equity in compensation for labor capital?

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  10. Steve Clemons says:

    CKR — thanks for your note. Will do our best. On this one, I had no choice on timing of the event or the announcement. We have 50 journalists/bloggers on the call right now — but didn’t invite anyone until 4 pm EST yesterday.
    If you like and you are a writer — zap me an email — and I’ll put you on my distribution list.
    best, Steve Clemons

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  11. CKR says:

    Steve, a bit more warning for something like this would be appreciated, particularly by those of us living in the hinterlands where the time is different.

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  12. VA Refinance says:

    thnaks for the message of the conf call with Soros,I will await the info that you recieve from him, Idont particulary like his politics but he does know what he is doing with business.

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  13. Mr.Murder says:

    America hid some of its shortcomings at the start of Bush fiscal policy through buybacks of its own capital.
    There’s no need to do it now, John Q. Public is paying for everything in sub prime bailouts.
    Meanwhile, world debt relief goes unaddressed, politicians act like they’re doing us a favor to have us maybe 15% renewable in two decades when some of the EU is almost there of surpassed it right now, and peak energy combined with climate change is expecting to really limit food yields for macro agri business.
    How about sanctions for any country not signing onto the world court? Would Kissinger’s portfolio not be susceptible to forfeiture?

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  14. Tony Foresta says:

    Soros depiction of supremist Amerika in the context of the neocon/Vulcan/fascist elements of the Bush government conjuring heretofore unknown unknown authorities are prescient and relevant.
    The pedatory class falsely imagines that the worker bea’s (the rest of humanity, 99.5% of earths population) are simple tools to be enslaved, controlled, monitored, and exploited as a means for entrenching the otherworldly wealth, resources, and conjured supremacy and dominance of the tyrants and their obedient deputies and ministers in the predatory class.
    Trust me, some of us bea’s will not be accomodating. As long as we breathe, there will be a balancing and a reckoning – and those who pretend supremacy today will be equalled, or laid low tomorrow.
    Iraq is the perfect example of this dynamic. The worlds hypersuperior military is proven impotent in controlling a population that rejects an occupation force dictating how that populations society should be governed, and by whom.
    I look forward to a lively and informative discussion.

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  15. Mr.Murder says:

    Splendid of you to grant us this kind of view, Steve.
    I’ve been quite ill the past two weeks or I’d have written more on the great thread topics you’ve had at TWN this past week. Still, I am trying to keep up.
    It seems Mr.Soros could be the person to best emphasize the value of pre emptive trade, instead of pre emptive war. Even that topic is now a hot potato.
    Perhaps he can discuss the inequity of labor capital in comparison to the ownership society’s staggering difference of income that the new model(downsizing, globalism, multinationalism on a scale of robber barons).
    The very basis means of value and exchange is set to undermine itself for the above reasons. We’re past the 20’s and 30’s crunch in my opinion because now we have to address the bubbles across the spectrum of peak energy demand.
    What does your man see the EU move for the Ukraine to be? It looks like an attempt to fracture support of Putin puppetry to one of the EU’s closest Russian states, on the one hand.
    We know he’s too shrewd for such items to happen. On another, it looks like the continued introduction of states who have fought Al Qaeda interests emerging East Europe. Chechnya is a hot pocket still?
    In my opinion its most transparent function is to provide fresh hamburger for boots on ground intervention in our wars with Persia.
    The days of the Roman Empire have returned. We need new Auxilia and Legionaries!

    Reply

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