Jim Rogers knows more about finance and economics than the entire state and federal bureaucracies combined. Here's what he has to say:
"The real problem over the past 10-15 years has been that regulators have not let people fail. Had they let people fail we would have solved this problem a long time ago. I don't know why they're not in jail," Rogers said.
Reiterating his view about US monetary policy and their effect on the Dollar, Rogers warned. "I would expect there to be a currency crisis or a semi-crisis this fall or next year. It's crony capitalism, Bernanke and Greenspan have brought crony capitalism to America … but that's not going to solve the world's problems."
"We're going to have zombie capitalism for the next 15-20 years. How long are you going to let the bureaucrats run the thing so we can't have a clean system?," he added.
"What we're doing now is we're taking the assets away from the competent people and giving them to incompetent people and telling them 'now you can compete with competent people with their money,'" Rogers added.
Read the whole thing here: 'We're going to have zombie capitalism for the next 15-20 years,' says Jim Rogers »»
