Tuesday, April 12, 2011

"We are still bankrupt" - Jim Rogers in "The Daily Bell"

What the country needs is money! - W.C. Fields

Jim Rogers is a commodities analyst with a dollars and sense vision of the bottom line - The Legendary

Daily Bell: Any more thoughts on the American Tea Party, which just scored some political gains? As we recall you were critical. Any further insights for us on the American political situation?

Jim Rogers: Well it appears that America does seem to understand, at least on paper, that there are staggering problems. We still haven't seen much action. I haven't seen anybody cut any spending in a serious way. We are still bankrupt and the situation is getting worse, not better. Now, usually when you have this kind of situation it usually leads to social unrest and more political backlash, I suspect it will this time too.

Daily Bell: What about the wars America is prosecuting and its military stance generally? Affordable? Supportable?

Jim Rogers: Well it is certainly not affordable. America has got troops in over 100 countries and it is just making enemies and not helping America's standing in the world. As for supportable of course not! How can anybody justify America now getting involved in Libya? I mean if America is going to support opposition to everybody in the world we don't like, America is soon going to be totally bankrupt, even more bankrupt. Why are we supporting the guy in Yemen and not the guy in Libya? I can see absolutely no intellectual, philosophical, or even political justification for what we are doing.

Daily Bell: Can the US sustain the war in Afghanistan for another three years? Will it have success in Westernizing that country?

Jim Rogers: No, look at the size of Afghanistan; I don't think the guys in Washington have a clue how big it is. Sure, we can stay there for three years and spend huge amounts of money, human lives, and we are making our situation worse not better. So we can stay there, but it is only driving us further and further into problems.

Daily Bell: Is Pakistan being destabilized as a result?

Jim Rogers: It's been destabilized. We are making more and more enemies in Pakistan every day and this is giving more psychological support to the enemies...

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