Monday, December 5, 2011

Jim Rogers : The Situation in Europe is getting out of control

Jim Rogers : The solution Jeff to too much spending and too much debt is not more spending and more debt , if you look at all the projections from all the European countries they all show that debt is going to be higher next year higher and higher the year after that nobody shows debt going down , The Situation in Europe is getting out of control and it is already out of control in the US , you got to have to take your pain sometimes Jeff , if you did it now you could ring fence everybody , some banks will survive but the system would survive , but Jeff right now government have some credibility and some ammunition left at least in Europe if you wait a year or two or five when the market forces you to deal with reality then the countries and the banks have no credibility they're out of control and the whole system gets crushed . I'd rather take the pain now then when the market forces have to take the pain and that could be the end of the system .......- in CNBC

Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry 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%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "