Posted on 10/15/2012 2:08:13 AM PDT by bruinbirdman
In a riveting interview on CNBC, legendary investor Jim Rogers warned Americans to prepare for "Financial Armageddon," saying he fully expects the economy to implode after the U.S. election.
Rogers, who for years has been an outspoken critic of the Feds policies of "Quantitative Easing," says the world is "drowning in too much debt." He put the blame squarely on U.S. and European governments for abusing their "license to print money." In the U.S. alone, the national debt has surged to nearly $16 trillion, that's more than $50,000 for every American man, woman and child.
"[They] need to stop spending money they don't have," Rogers said. "The solution to too much debt is not more debt... What would make me very excited is if a few people [in the government] went bankrupt..." Rogers added.
Rogers also charged Obama and German Chancellor Angela Merkel with promoting dangerous policies that create the illusion the economy is stable... but are really only intended to buy time before their upcoming elections.
"Mrs. Merkle has an election next year," Rogers said. "Mr. Obama has an election in November. The Americans and the Germans - they want to do everything they can to hold the world up until after the next election."
"It's going to be bad after the next election."
How bad? Worse than Rogers predicts, according to a new investigation.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a "frightening pattern" they believe points to a massive economic catastrophe unlike anything ever seen in the history of the world.
(Excerpt) Read more at moneymorning.com ...
Don't let the door......
Leni
Well, we’re on a PhD standard. And those guys are smart. Really, really smart.
Did I say those guys are smart?
I’ve never been a glass-half-full kind of person, but I take issue with the doom saying.
I’m a business owner in the private sector, and I’m suffering, but we’ve survived what amounts to the greatest government assault on capitalism this country has seen since FDR.
Capitalism is very, very, resilient. It must seem like a weed, impervious to weed killer, by Obama and his minions.
Romney’s election will be a huge mental lift to those of us who have been working double time, cutting expenses and positioning ourselves for what I see as the inevitable resurgence.
Romney for example, has promised to neuter Obamacare, open the vast energy potential our country possesses, and deal with Dodd-Frank. We in the private sector do not wait to seize opportunities, we think long term, and therefore you will see some immediate investment and un-shackling of credit.
Admittedly, there’s a lot of debt, but there are a lot of revenues to be had with the growth that will come with Obama’s exit. It’s not a structural thing, it’s a psychological phenomenon that will be unleashed.
I have some commercial real-estate I’ve been trying to sell for four years. I’ve had more interest in these properties in the last two weeks than in all the years they’ve been for sale. The stupid people will wait until things get good to make a move, the smart ones are already coming out of the woodwork, and there are a lot of smart people in the private sector who know that if they don’t move now someone else will.
You are right. We are already building a new house and bought the lot last June. These democraps can not keep us down for long.
Share your optomistic perspective based long-term negative market sentiment frustrating capital formation. Decision makers suffering from opaque view of the future have retrenched long enough. Romney’s leadership will be pro growth agenda will launch an explosive economic boom.
Beware of bow tie wearing “experts” on anything.
ping
That would be new.
I read this a few days ago and then followed the link to the economists...it is just a commercial.
>> Then no information in the article about how to repair.
For the detailed formulas, you have to click on a link that takes you to another page that shows you a video &etc.
Don’t have time to follow the breadcrumbs, but I’m fairly certain that at the end of this rainbow is something or other that involves paying them money.
I mean, what the heck, if you and you alone have the secret details of TEOTWAWKI, are YOU gonna give it away for free? :-)
I think I’ll pass though.
Idols are made of gold and silver. People will see that their pagan idols cannot stand against God.
So you're planning on going undefeated for years for basic necessities. You'll only last until your first defeat.
How will that help you against hyperinflation?
So did Rogers, he's been saying the same thing for a long time.
Also, if the financial world gets hit, this won't hit the interior economies of India or parts of Africa - they are insulated or rather isolated from the world
PhD as in "Piled High and Deep"?
Well, if the new house does not sell, we will rent it out. The rental market in the DC suburbs is hot.
“Then no information in the article about how to repair.”
How do you repair Armageddon?
I don’t trust men who wear bow ties
Or lives in Singapore in order to avoid US taxes.....
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