The US is the biggest debtor nation in the history of the world. This cannot go on forever. Eventually, the creditors are going to say "no more, that is the end of the line".
If you think the problems are bad now, you wait till we do not have any more credit, you wait till the currency collapses, interest rates going through the roof, inflation going through the roof. It`s not going to be a pretty picture. There is going to be social unrest. It`s going to be a mess.
The sooner we deal with it, the better.
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Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.
