Sunday, July 31, 2011

Jim Rogers: 'Prepare for a Lost Decade or More' - Bull Source

Investor and author Jim Rogers gives his analysis on the US debt ceiling debate, and discusses his move to Singapore.

America will be in worse shape a year from now, Rogers believes, as Washington will continue to spend and drive the nation deeper into debt. Eventually creditors will say “no more”, and social unrest and a currency collapse will ensue, he predicts.

Rogers argues that if politicians deal with the debt issue now, the US may have a hope, after a painful period. “Countries that have gotten themselves into this situation never do anything until there’s a crisis or a semi-crisis,” he comments.

Rogers believes the 21st century will be the century of Asia. Consequently, he has given his children the skills of speaking Mandarin and knowing Asia.

Jim Rogers

Warren Buffett

Nouriel Roubini