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Exclusive Interview: Jim Rogers Predicts Bigger Financial Shocks Loom, Fueling a Malaise That May Last for Years
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VANCOUVER, B.C. – The U.S. financial crisis has cut so deep – and the government has taken on so much debt in misguided attempts to bail out such companies as Fannie Mae (FNM) and Freddie Mac (FRE) – that even larger financial shocks are still to come, global investing guru Jim Rogers said in an exclusive interview with Money Morning.
Indeed, the U.S. financial debacle is now so ingrained – and a so-called “Super Crash†so likely – that most Americans alive today won’t be around by the time the last of this credit-market mess is finally cleared away – if it…
THE VOLCKER MYTH
Gradually, people are becoming aware that we have an inflation problem, which seems to stretch around the world. Perhaps it is time to think about how to resolve it. Certainly a few coy remarks by some Federal Reserve representative aren’t going to be effective. If that were all it took, then nobody would ever have an inflation problem. You would just say, “we are concerned about inflation,” and it would disappear – poof! – like a cartoon genie.
Sorry: not quite so easy.
Inflation is childishly simple to understand, but economists like to remain confused. When a currency loses value, markets gradually…
3Jul2008 | Daily Reckoning | Comments Off | Continued
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