This Jim Rogers video on the US bailout on Bloomberg news hits the nail right on its head. Jim’s main point is that you can’t borrow and spend your way out of these economic problems. It’s not going to work. Failing banks should be allowed to go bankrupt which will then clean out the banking system. He mentioned that this is what Japan has done in the 1990s and this resulted in the ‘lost decade’.
He’s got some very interesting and valid points.
Jim Rogers is a co-founder of the Quantum Fund with George Soros. He’s also a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).
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