Jim Rogers (famous for: Biker and Quantum fund) in a free wheeling interview to MoneyMorning.com says some fearful things. Jim is too famous and has some
Indeed, the U.S. financial debacle is now so ingrained – and a so-called “Super Crash” so likely – that most Americans alive today won’t be around by the time the last of this credit-market mess is finally cleared away – if it ever is, said Rogers.
The end of this crisis “is a long way away,” Rogers said. “In fact, it may not be in our lifetimes.” During a 40-minute interview during a wealth-management conference in this West Coast Canadian city last month, Rogers also said that:
- U.S. Federal Reserve Chairman Ben S. Bernanke should “resign” for the bailout deals he’s handed out as he’s tried to battle this credit crisis.
- That the U.S. national debt – the roughly $5 trillion held by the public- essentially doubled in the course of a single weekend because of the Fed-led credit crisis bailout deals.
- That U.S. consumers and investors can expect much-higher interest rates – noting that if the Fed doesn’t raise borrowing costs, market forces will make that happen.
- And that the average American has no idea just how bad this financial crisis is going to get.
“The next shock is going to be bigger and bigger, still,” Rogers said. “The shocks keep getting bigger because we keep propping things up … [and] bailing everyone out.”
When Jim Rogers speaks…you listen!
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