INTERNATIONAL. Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers, spoke Monday about the Standard & Poor's credit rating downgrade of US sovereign debt, saying the 'no news' event has nothing to do with the markets plunging and will not affect his investment strategy.
He also discussed the Federal Reserve monetary policy, arguing that further money printing, better known as QE3, will bring more inflation, social unrest and will lead to lost decades for the United States. He urged investors to be prepared as 'more problems are coming'.
The only thing that will work, he said, is to face reality by letting people that are bankrupt go bankrupt.
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