Ron Paul & Jim Rogers On The Financial Crisis
Ron Paul and Jim Rogers were interviewed recently on Fox News and CNBC respectively, and as usual they both made very good points. The one thing I would correct Rogers on would be that he doesn't seem to realize that China, Singapore and the other Asian countries do in fact borrow to the U.S. and that it is largely in U.S. government securities and other U.S. assets that they hold the reserves he's talking about, and that they are suffering because of this.
Anyway, that's only a minor point and for the most part he is right on the mark. I especially like his characterization of government officials in the beginning and what he says they should do at this point at 4:20 into the video. The first video is with Paul, the other with Rogers.
Anyway, that's only a minor point and for the most part he is right on the mark. I especially like his characterization of government officials in the beginning and what he says they should do at this point at 4:20 into the video. The first video is with Paul, the other with Rogers.
posted by stefankarlsson at 5:56 PM
2 Comments:
stefan,
there seems to be no contradiction. rogers appears to say that singapore, china, etc. should stop investing their money in US and bring it home and use it domestically.
No, he starts off by saying that they should "continue" to save their money and keep their powder dry and not bail out America. Yet today they put their savings in U.S. assets with depreciating values.
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