In Jim Rogers latest video, he points out that America is more communist than China right now. They at least have a free market in housing. What we have in America is socialism for the rich. They bailed out all their buddies.
We’ve had many bankruptcies since the beginning of time. If there is anything left, it goes back into the market. On paper, Fannie Mae and Freddie Mac have liabilities of 6 trillion dollars.
Fannie and Freddie are going to be winding down their operations the next few years. This will mean that there will be less mortgages available and there will be a reduction in demand.
Neither Palin nor Obama have any clue what to do next year. We are going to have a huge rally. However, Jim Rogers latest advice is that it’s rarely good to jump onto a moving bus.
