Monday, October 3, 2011

We cannot quadruple our debt again

Jim Rogers : You know, the American economy has had an economic slow down every four to six years since the beginning of time. So we’re overdue at the end of 2011/2012/2013. I don’t know when it will come but I know it will come. It always has. And when the next slow down comes Americans are in serious trouble. America shot all its bullets. We can’t quadruple our debt again. You know, if you take in all the off balance sheet guarantees and assets, we have a huge debt problem facing us. And if we try to do that again the market is not going to let us. Likewise, we cannot press staggering amounts of money again. The market is not going to let us. So the next time around is going to be worse than the last time. - in GoldSeek Radio