“Super Crash”
“The next shock is going to be bigger and bigger, still,” Jim Rogers said. “The shocks keep getting bigger because we keep propping things up … [and] bailing everyone out.”
The U.S. financial crisis has cut so deep - and the government has taken on so much debt in misguided attempts to bail out such companies as Fannie Mae (FNM) and Freddie Mac (FRE) - that even larger financial shocks are still to come, global investing guru Jim Rogers said in an exclusive interview with Money Morning. Investment Director Keith Fitz-Gerald reports.
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, investing guru Jim Rogers said.
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:
also see:
Volcker Says Finance System 'Broken'
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