Jim Rogers billionaire says that Bernanke is dead wrong every time he opens his mouth. He swears under oath that everything is fine and that he has solved the problem. If he was an investor, he would have been broke a long time ago. It must be nice to have a job where it doesn’t matter whether you are right or wrong.
When you have a bad system like this, someone ends up having to pay for it. All these bad loans have to be settled. If you put a band-aid on it rather than solving it, then it will make things worse in the long run.
Regulations are not the answer. The regulators have no clue about what is going on. How can they regulate something that they don’t understand? Jim Rogers billionaire notes that the reason that this happened was because of people like Greenspan. You may have heard of the Greenspan put. That put was what made people act recklessly with the knowledge that other people would pick up the bill if they made a mistake.
Greenspan had no idea what he was doing. He couldn’t cut it in the private sector. Everything he ever did in the private sector was a failure. So he kept lobbying for public sector jobs. That is the case of most government employees.
When people failed, they must be allowed to fail. That’s life. It sure would be nice if nobody ever failed. Everyone fails and makes mistakes from time to time. Jim Rogers billionaire says that we have to hold people accountable for their mistakes.
[...] Jim Rogers Billionaire – Greenspan Failed at Every Job He Had [...]