Jim Rogers investor says that bailing out Citibank was good for Citibank, but not good for much of anyone else. This is outrageous. The way it is supposed to work is that when this kind of stuff happens, the competent people take over the assets of all the people who made mistakes. Everything is weakened as a whole when these failures are propped up.
These people are keeping the bonuses because you and me have given them the money to pass around. America as we know it is not going to exist anymore according to Jim Rogers investor. This is all so that some 29 year old guys on Wall Street can keep their fancy cars. None of the people responsible have even lost their jobs. The people who did lose their jobs walked away with hundreds of millions of dollars.
People who own US dollars and US government bonds are worried. Jim Rogers investor says that the creditor nations of the world are in Taiwan, Singapore, China, and Hong Kong. The world has changed, and all the money has shifted to the East.
The government debt a few years ago was 5 trillion dollars. It took 200 years to build up that debt. Now a few years later, it is around 15 trillion dollars. It is amazing, and it is the decline of America.
If we want to get back on track, we have to start allowing bad companies to fail. Japan did the same thing in the 1990s. 18 years later, they still haven’t fully recovered from those mistakes. We are now following the same policies.
The politicians aren’t listening to schoolteachers or farmers in Iowa. They are only taking phone calls from bankers on Wall Street who are begging for a savior.
In New York City, a janitor can make 6 figures a year and get tenure in the education system. For Jim Rogers investor, this is absurd. The education doesn’t need more money, we just need to stop giving it to the administrators and instead give it to the teachers.
