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Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.
-George Soros
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Financial Markets ... Resent Any Kind Of

George Soros
Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.
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Business Government Steps

More From George Soros

These people talk of a "middle-of-the-road" policy. what they do not see is that the isolated interference, which means the interference with only one small part of the economic system, brings about a situation which the government itself — and the people who are asking for government interference — find worse than the conditions they wish to abolish: the people who are asking for rent control are very angry when they discover there is a shortage of apartments and a shortage of housing.
Mean Government People
Financial markets are supposed to swing like a pendulum: they may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. instead, as i told congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. it is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.
Country Swings Balls
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.
Would Be Fundamentals Normal
It is important to remember that government interference always means either violent action or the threat of such action. government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen. the essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. those who are asking for more government interference are asking ultimately for more compulsion and less freedom.
Mean Men Prison Guards
There are markets extending from mali, indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. so they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.
Military Government Law
I have great, great confidence in our capital markets and in our financial institutions. our financial institutions, banks and investment banks, are strong. our capital markets are resilient. they're efficient. they're flexible.
Strong Financial Investment
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