Saturday, March 26, 2016

Jim Rogers : The only Solution is to admit our mistakes

Q: If printing money is not the answer, what kind of economic policies would you like to see?

Jim Rogers : In the early [2000s], America had this kind of problem. America raised interest rates, America balanced the budget and had a horrible two years. But then America had the best economic decade in our history.
     The world is going to have to face the problems and take the pain, and it's going to be painful especially in Japan. But you let people go bankrupt, you clean up the system and you start over.
     So, the only solution I see is to admit our mistakes and now face those problems. Politicians don't want to do it, central banks don't want to do it. They say just keep printing money, keep borrowing money, keep building up higher and higher debt and everything will be OK.

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