Jim Rogers:Communism and Socialism have failed many, many times

Jim Rogers: This did not work in the past and it won't work now. Nobody wants to be a communist any more. Nobody even wants to be a socialist – but if they want to be a socialist, they want to be a rich socialist. Now, if the world gets into more economic trouble in the next decade or so you are certainly going to have more of that kind of ideology come to the fore again. People are going to be unhappy and they are going to look for answers. Socialism sounds okay to people, especially people who are suffering. Will it work? NO! It's never worked. Communism and socialism have failed many, many times and the propaganda notions will get the better of people when things go wrong. I am sure you are going to have a resurgence of all kinds of-off-the-wall economic theories as things get bad but none of them are going to work in the end. They may come to power but they are not going to work in the end. - in Daily Bell

 

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%.