Jim Rogers: The Economy Is Being Juiced Up Before the Election, Watch Out for 2013
Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers has been talking about the recent ‘upbeat’ US economic data and bullish expectations for gold. He dismisses the first as “juicing up” the economy to win the election and calls for caution on the yellow metal.
Speaking to India’s ET Now, Rogers said: “You have the American government spending staggering amounts of money right now, printing a lot of money and getting ready for the election”.
“You have to remember the election in America in November…they do their best to get the economy juiced up so they can win the election,” he added.
Rogers has been warning that the problem of too much debt can’t be solved by more debt and that the next recession will be worse because the debt is going through the roof and in his words “we’re shooting our bullets.”
Rogers has long distrusted the Federal Reserve and the monetary policies it has been pursuing, claiming that “everything is worse instead of better.”
The legendary investors’ solution? “Let people go bankrupt. Let the system clean out and start over.”
Harold
ACGR's "News with Attitude" 