The solution to the debt problem is cutting spending

Jim Rogers : " Dylon it is astonishing to me that grown up adults can say and in Washington they do say that the solution to too much debt and too much consumption is more debt and more consumption , no that's not the solution to the problem , the solution to the problem is cutting spending and writing off the debt , when people are bankrupt they are bankrupt Dylon , face facts we write the debt start again , it is painful of course it is painful it is terribly painful but pushing this up for another decade is going to be much much worse painful " - in The Ratigan Show June.16, 2011


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%.