Monday, August 8, 2011

The reason why S&P was right in downgrading US

Aug 08 2011 -- The United States' prized top AAA credit rating has been cut for the first time ever. Standard & Poor's has dropped America's ranking to AA+. Asian investors are getting cagey on the back of what's been a tough week for America's economy. Jim Rogers says they're ditching bonds. I don't know why people can't see that the global economy is a complete ponzi scheme. There is so much corruption and watered down derivative scam investments that all credibility is lost
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).