Soros’ idea was to write down ALL of the mortgages in the USA – at the same time.
Correcting all of their market values to more reasonable property values that is affordable, leaving people with actual money at the end of the month to buy food, live lives, use their money in OTHER ways than simply paying for a roof they can’t afford.
You see, I don’t think it is the existence of banks, private or federal, or the existence of mortgages or even the existence of jobs…
but the extraordinarily lack of balanced management of them all.
I’m still not going to follow a Youtuber. I’m still on my principal about that. Plus, it’s political commentary. I talk politics but generally try to keep my head as clear as possible as I can from most of it.
Basically, there’s two kinds of investors: Warren Buffett – buy and hold long term, invest slowly and carefully.
George Soros’ Reflexivity – that people are fundamentally unstable, not rational and therefore the markets are as well.
Most investors are a hybrid in style between the two.