Wednesday, August 20, 2008

Jim Rogers Predicts Bigger Financial Shocks Looms and the possible end of American dominance

In an exclusive interview, Jim Rogers said that bigger financial shocks still continue to loom and that the end was not in sight. Rogers said that the Fed Chairman should resign and commented that the average American was still not aware of how deep the problem was as the national debt has basically doubled over the last few weekends, with un-elected officials adding close to another 5 trillion dollars to the original 5 trillion national debt.

I really like the way Jim Rogers explains in plain English the financial problems that America faces today. No nonsense kind of speaking without the need to be politically correct.

In fact, I googled the US National Debt and found the following link:

US National Debt clock.

Close to 9 trillion in debt! When the U.S. crumbles, so will lots of other economies who have "lent" them money.

Think Jim Rogers is right. The future is China. It would be wise to get out of any U.S. dollar investments while there is still time. What is the value of the U.S. dollar in the future? Perhaps Hans Anderson has the answer:

"But the Emperor has nothing at all on!" Said a little child. "Listen to the voice of innocence!" exclaimed the father; and what the child had said was whispered from one to another. "But he has nothing on!" at last cried all the people. The Emperor was vexed, for he knew that the people were right; but he thought, "The procession must go on now!" And the lords of the bed-chamber took greater pains than ever to appear holding up a train, although, in reality, there was no train to hold. - Hans Christian Anderson

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