Jim Rogers : America cannot quintuple its debt again

Jim Rogers : well Greece is bankrupt , I guess they are figuring out for themselves that they are bankrupt , and in my view they should let them go bankrupt and clean up the system ,now let me explain if Greece goes bankrupt they clean up the system , the Euro may go down for a while then in my view the Euro will be a very strong currency because they will say OK they gonna have a hard strong currency in Europe they are not going to put up with this , otherwise what happens the next country and then the next country and the next country ....if they are bankrupt they are bankrupt I suppose that's how the world is supposed to go ...
there is certainly more downside to come in the news , we certainly have several countries in Europe alone which are technically bankrupt and essentially are bankrupt , so more bad news to come , I happen to own the Euros it is not doing any good as you know because I expect them to paper them over eventually that will cause the euro to rally for a while , but look the way to solve this debt problem is not with more debt , the idea that you would solve a debt wit too much debt and too much consumption with more debt and more consumption , I mean that defies comprehension , you cannot believe that the grown ups will stand up and say something like that , but that's why they're politicians .....
It is not just the Eurozone , we got the United states of America which is basically bankrupt we got the UK which is bankrupt these are huge economies ,,,I know that the next recession whenever it comes it is gonna be much worse ..because I mean America cannot quintuple its debt again ...the UK cannot sextuple its debt again ...I mean it is just no more slack in the system so when we have the next recession and look we had recession every four to six years since the beginning of time , we gonna have more by 2012 or who knows when if not before and then it is gonna be much much worse ...



Jim Rogers president of Rogers Holdings is a successful hedge fund manager, investor, writer and regular media commentator. In the 1970's he co-founded with George Soros the Quantum Fund, a private investment partnership which invested in commodity futures, among other investment vehicles, and experienced superior returns over 10 years. former partner and co-founder of the Quantum Fund, and a truly legendary international investor who helped generate a 4,200% total return over a 10-year period .Jim Rogers is always bullish on Asia Commodities Agricultural Products gold and silver . Rogers has been chronicled in John Train's “Money Masters of Our Time”, Jack Schwager's “Market Wizards” and other books. He is the author of several books on investing and the market, and in December of 2004 published “Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market”. Jim Rogers once said about investing in commodities :"Investing in commodities can be a hedge against a bear market in stocks, rampant inflation, even a major downturn in the economy. In fact, I believe that investing in commodities will represent an enormous opportunity for the next decade or so.”
Jim Rogers Commodity Index Rogers International Commodity TRAKRS , trades on the Chicago Mercantile Exchange under the ticker symbol RCI. The RCI represents the U.S. dollar value of a basket of 35 commodities consumed in the global economy both in developed and emerging markets