Saturday, August 13, 2011

Jim Rogers on FOX Business News 12 Aug 2011

Jim Rogers : we had a little bit of a panic last week , I am not convinced it is over yet the market may rally for a while , but no we have more bankruptcy to come we have we have more problems coming over the next couple of years .....whenever you interfere with the market you make things worse not better , I mean last time around even the Americans realized banning short selling make things worse it does not make them better , fortunately this ban in Europe is only for few days or at least they say it is , but short selling is good for the markets anybody who knows that knows that it helps market in the long run ...... If you look at Japan for instance in the 1990s they said we are not going to let anybody fail they had a lost decade in the 1990s and now they have had two lost decades the Japanese stock market is down 75 percent Liz from where it was 21 years ago , this idea that we could just put things out to the future and prop everybody up , you remember the term zombie banks , zombie companies , David is exactly right it does not work it makes things worse in the long run ....Scandinavia had a similar problem (as Japan ) they let people to go bankrupt they forced people to go bankrupt , they had a horrible two or three years years a horrible two or three years but since then Scandinavia had a great boom , Sweden for example is one of the best countries in the world for 15 years , you have to wipe out fail that's the only way you reorganize you start over , it is not fun but having 21 years of lost decades that's less fun .....

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).