CNBC
8 Jun 2011
By: Margo D. BellerSpecial to CNBC.com
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Jim Rogers
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"The debts that are in this
country are skyrocketing," he said. "In the last three years the government has
spent staggering amounts of money and the Federal Reserve is taking on
staggering amounts of debt.
"When the problems arise next
time…what are they going to do? They can’t quadruple the debt again. They cannot
print that much more money. It’s gonna be worse the next time around."
The well-known investor believes
the government won't shut down in August if agreement isn't reached on raising
the debt ceiling, but he did say
"draconian cuts" are needed in taxes and spending, especially military
spending.
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