Jim Rogers : we are rapidly approaching a crisis that will be worse than 2008
Legendary investor Jim Rogers being interviewed by Glenn Beck about his outlook for the American economy and other subjects :
America is already bankrupt , the idea that it is still a triple A credit and that it may, lower it is just absurd , what are the rating agencies doing ? These rating agencies have been wrong nearly about everything in the past ten or fifteen years do not pay any attention to them , US is in terrible trouble , congressmen should be worried about that not about what the rating agencies are saying "
" they should cut spending dramatically they should take an ax , no a chainsaw , they should take a chainsaw when cut spending , America is is going down the tubes we are the largest debtor nation in the history of the world , this is a very serious things going on around and we are just watching ourselves sinking to the sea..."
"...The United States is now the largest debtor nation in the history of the world Glenn , and it is getting worse it is not getting better " Jim Rogers says " you would think that those clowns in Washington they would read one history book and see what happens when countries get in this kind of situation ,nobody ever has gotten out of this kind of situation without a crisis or a semi crisis , now the crisis or semi crisis is coming sooner rather than later , we're the largest debtor nation in the history of the world , in the history of the world !
" that what they hope to do is to cause inflation , I do not know if they are smart enough to plan this out , but the way it's working , they gonna inflate the currency cause inflation , the currency will become worth less and less and we will pay it off with worthless money " ..."nobody has been ever able to control inflation once inflation starts if you try to put it down it gets harder and harder the longer you wait the worse it gets , just read some history book , people think I am nuts too , just look it up , I am not smart I just looked it up , look it up too " " I do not think that any politician has ever brought disaster knowingly or willingly it just gets out of control , but Glenn most politicians are not that smart that's why they became politicians , the study show that the people in America who became the best politicians are the people who excelled at play ground they did not excel at anything else most of them they never had jobs they do not know how the world works and it is frightening it is frightening "
" If Israel falls you certainly gonna see chaos in the middle east there is no question about that , I do not think you gonna see the Muslims at the gates of Vienna again " "there is no question you gonna see a lit more social unrest in Europe you gonna see more social unrest everywhere including the United States I am afraid " "just look it up you had people marching on Washington in the 30s and camping at the white house because they were really angry and very upset , now in the 30s America was much more disciplined it is very unlikely , in this decade , America is not nearly as disciplined as we were in those days now everybody expects a free lunch , in the 30s nobody expected a free lunch they were willing to work they were willing to do whatever they could to get money and food we do not have that nation anymore "
We have wars going on in three different countries right now we'd like to have wars in four or five more if we could figure out the way to do it , we got troops stationed in a 120 countries around the world they are not doing anything except making enemies for us and costing us a staggering amount of money , this is all gonna come to an end and unfortunately no country that got itself in this kind of situation gets out of the problem without a crisis or semi crisis we are rapidly more more rapidly approaching a crisis it's going to be bad for all of us , 2008 was bad well wait till the next time around it's going to be even worse |
