According to the youtube write-up, this interview was on March 19, 2008. At that time Jim Rogers was fed up with the Federal Reserve, are you?
Posts Tagged ‘Jim Rogers’
According to Jim Rogers in this video, the Japanese had a similar bailout scenario 18 years ago. The Japanese government refused to let Japanese businesses fail and Alan Greenspan had advised them to let the businesses fail. Why aren’t the Americans following Greenspan’s advice now?
Betty then asks if there is a middle ground in the bailout scenario without letting all the companies involved in the bailout fail. The answer of Jim Rogers to that struck me since Peter Schiff, another believer of letting the businesses fail would probably have a similar argument. Jim claims that it is bad morality since the companies who are sound should be right now taking advantage of the situation and taking market share of the companies which should be failing. He continues to explain that with a bailout this would not be happening. With a bailout, the government would be taking the money of the competent banks and give them to the incompetent banks to compete with the competent banks. Jim even says “it’s horrible morality but it’s horrible economics too.”
Goodness, in this film clip (3:50) Jim even says “he’s bailing out his friends”.
In the earlier film clips which I have posted of Jim Rogers, he has been quite civil, and blames bad government decisions with ignorance, but with the above statement, one can’t help but wonder what Jim Rogers had in mind.
Is it really time to get out of the U.S. dollar?
One can’t help but think after watching this video:
1. Has Ben Bernake really been that wrong for several months or even years?
2. Is the United States really in that bad a situation?
3. Jim Rogers seems to agree with Peter Schiff in the idea that no bailout should be done so that the United States should rebuild from scratch and embrace the recession and not fight it.
If the United States drops from its superpower status, will China replace it? Jim Rogers talks about China as if he is sure that China will succeed the U.S. He even goes to say that “they are among the best capitalists in the world”.