Jim Rogers Interview by NewsmaxTV - Aug 9, 2011

Jim Rogers : ...we had a crash Kathleen turn on your Newsmax and you will see , I would suspect whenever you see collapsing like this it is usually at least a temporary bottom , I am sure there are going to be many many more problems in the financial markets over the next few years we may have a temporary bottom at the moment , but if it rallies I certainly do not plan to buy stocks ....you should never panic when everybody else panic unless the world is coming to an end , wait until there is some kind of relief and then if you want to panic , panic when everybody else is heaving a sigh of relief Jim Rogers when asked if the US is on the brink of a Fiscal Armageddon says : on the brink ? I do not know what that mans , you mean this week ? no not this week , this decade absolutely probably sooner than this decade , it is astonishing , America is the largest debtor nation in the history of the world Kathleen , this is not good news what's going on in Washington , these guys are really really out of it , they do not understand what's happening and we are all paying the price and it is going to get worse ... I do not think we have left the first recession , if you look at the facts in the statistics , unemployment is now higher than it was before , what happened Kathleen was the government spending a staggering amount of money and te people who got that money are certainly better off and all their friends and neighbors etc , but overall the situation is worse , America more than quadrupled its debt when you take in consideration the things that they guaranteed , Bernanke printed unbelievable amounts of money the situation is worse off , ...sure the people who got the money are better off , I do not think we ever left the first recession this one long period of economic difficulty and America is going to pay the price for all these mistakes ..... we could certainly wind up in a depression if they keep making mistakes in Washington , I would not call it a depression yet , but the way the world is going and if politicians keep making mistakes it could happen again that what happened in the thirties , they turned in what should have been a normal bear market and a recession they turned it into a huge depression with mistakes , they are making plenty of mistakes this time too

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.