http://www.youtube.com/watch?v=fflOhutJXYY&feature=player_embedded
Mainly America, Britain, and China are printing too much money, says Rogers. He sees shortages developing in commodities. Rogers believes inflation will continue to get worse and forecasts trouble for more economies in the next year or two.
The investor says conditions are going to worsen in the UK. “Unfortunately, they’ve made many mistakes and they’re going to have to pay the price,” he comments. Rogers proposes letting people who failed go bankrupt, stop bailing out banks, bank shareholders and bondholders, and cutting government spending dramatically.
“Eventually, as things continue to get worse, the market is going to say, ‘We’re not going to lend you money anymore’ and then they will be forced to take drastic measures.”
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