Jim Rogers : the only long term solution is to face reality , we had the greatest credit bubble in the history of the world in the United States , we had gigantic excess for thirty forty years , we can't deny that , you can't just wake one day and say well OK I made a mistake too bad now let's start over the only way you gonna do that is face reality now and start over , admit people are bankrupt let people go bankrupt do not bailout people who fail let's start this whole situation over we can never pay off the debt that we have encored , we have to cut spending dramatically , we should cut spending not with an axe but with a chainsaw , I mean this is a serious that the United states is in and therefor the world
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
