We are going to have a global financial collapse because of these guys. In the U.S. we have had economic slowdowns every 4 to 6 years since the beginning of the republic.
In 2001-2002 we had a problem and then we got over it, the government printed a lot of money. By 2007-2008 and 2009 we had our next one, which is the way it always works. It was worse because the debt was so, so, so much higher.
Now you wait till the next one. There is a next one coming despite what they keep telling us. And when the next one comes, the debt is going up by staggering amounts, not just in the U.S. but worldwide. So when the next one comes it will be even worse. Let`s hope the world survives that one.
Jim Rogers is a legendary investor that co-founded the Quantum Fund and retired at age thirty-seven. He is the author of several books and also a financial commentator worldwide.