Wednesday, February 11, 2009

Jim Rogers on the Economy

“America doesn’t have reserves and it doesn’t have anything except, so far, the ability to borrow,” Rogers said. “That’s not going to be good for the world economy. It’s just adding more debt, more consumption to a problem that’s caused by debt and consumption.”

“He caused the problem all last year,” Rogers said on Bloomberg Television. “He came up with TARP, and he came up with all these absurd bailouts. Mr. Geithner has never known what he is doing. He doesn’t know what he is doing now and pretty soon everybody is going to find out, including Mr. Obama.”


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