Wednesday, February 27, 2013

Financial Armageddon is Coming Says Jim Rogers

Commodities expert Jim Rogers recently said in an interview that there is nothing to stop financial Armageddon from happening. Even if governments do something now, according to Rogers, it is too late to stop the coming disaster.

Of course governments and central banks aren't doing anything to deal with the mounting, unsustainable debt loads, and that ensures there will be a day of reckoning, one that is rapidly approaching.

Rogers commented on the recent announcement by EU leaders concerning empowering banks to have access to bailout funds to recapitalize.

"Just because now you have a way to get them (banks) to borrow even more money, this is not solving the problem, this is making the problem worse,” Rogers said CNBC.

Instead, what Rogers rightly looks for is for there to be some bankruptcies, which would point to debt being lowered.

“What would make me very excited is if a few people went bankrupt or a few people started paying off their debt. We are going to have financial Armageddon anyways, when the rest of the world is not going to give these people any more money,” Rogers said.

Since the economic system is doing nothing to cleanse itself, there will be a financial Armageddon as Rogers points out. It's too late for anything to be done to stop it.


Anonymous said...

Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter
and said "You can hear the ocean if you put this to your ear." She
placed the shell to her ear and screamed. There was
a hermit crab inside and it pinched her ear. She never wants to go back!

LoL I know this is totally off topic but I had to tell someone!

Here is my web site trading opzioni binarie

Anonymous said...

Having read this I believed it was very enlightening.
I appreciate you finding the time and effort to put this short article together.
I once again find myself spending a lot of time both reading and commenting.
But so what, it was still worthwhile!

My web blog ... bankruptcy attorney florida