June 30, 2012
People Need To Stop Spending Money They Don’t Have
Just because now you have a way to get them (the banks) to borrow even more money, this is not solving the problem, this is making the problem worse. People need to stop spending money they don’t have. The solution to too much debt is not more debt. All this little agreement does is give them (banks) a chance to have even more debt for a while longer. 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.