Jim Rogers on The Markets : we have now worse problems than we had before
Jim Rogers : We now have worse problems than we had before,the idea that you can solve the problems of too much consumption and too much debt with more consumption and more debt is defies comprehension ...America quintupled its debt , the UK who knows how much.. its debt.... this is a problem , the people who received the money think things are better and they are better for them but the rest of us who are worse off are gonna have to pay the price ....My investment outlook is that I am long commodities and short stocks ...I do not own stocks in many places at all I think that if the world gets better commodities will do better because shortages are developing , if the world does not get better and the world economy does not get better they are gonna print a lot of money and that always been good for real assets , the assets are in Asia , the creditor nations are all in Asia now China Korea Taiwan Honk Kong Singapore , I mean this is where the money , so rather be invested here than ...you know where the debtors are you know who they are , rather be invested with the creditors than with the debtors .... famous investor Jim Rogers told CNBC. More consumption financed by more debt will not end the crisis because debt caused the crisis in the first place, he added.
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