The West is saddled with huge obligations built up in the past

Jim Rogers : The debt situation worldwide has gone up a huge amount. And that’s driving us all down. Many studies have shown you don’t have to do a study. Just look at your own life.
If you have too much debt you’re always - most of your efforts are spent paying off previous obligations. So that’s what the world’s saddled with right now. We’re all - not all but the West anyway - is saddled with these huge obligations built up in the past. And that’s going to continue to cause us a lot of problems. There’s not nearly as much growth coming out of the West, the developed world - call it what you will - as there was in the past. - in Goldseek Radio

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%.