ben
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Too many vultures are at play to destroy economies . George Soros is a case in point who was behind the collapse of the english pound 20 years ago and the Mexico Crisis of the 1990s .
Billionaire who broke the Bank of England
www.telegraph.co.uk
Vultures do not kill people, they do their work with already dead bodies. In fact, they provide a useful cleaning function: the flesh they eat would otherwise just putrefy. It’s the same with economies: the analogy is near perfect.
Soros did not create the conditions in which the pound was vulnerable to an attack such as his; he merely discerned this weakness, and positioned himself to profit by it. Many observers believe that the events of Black Wednesday and the changes made in its aftermath - chief among them Britain’s exit from the Exchange Rate Mechanism - paved the way for the recovery from the recession in which the UK already found itself.
The same is the case here. Waiting for prices to hit rock bottom does not mean being responsible for the underlying woes of this economy. The endless relying on gimmicks and cooked books, the tug-of-war between unscrupulous government and business bent on paying as little as possible or less, the endemic corruption, none of it is the fault of so-called vultures who, knowing all this to be true, have no plans to buy except when things crash as they inevitably must.
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