Roger Holdings Jim Rogers asks why are we wasting time talking about a congressman when we are facing a crisis? The United States is the biggest debtor nation in the history of the world, and they will not be able to pay those debts.

It is astonishing that adults can actually think that the solution to debt and consumption is more debt and spending. Yes it is painful, but it will be more painful to push it out into the next decade.

After WWII, people decided that they should write off their debts and start over, and that freed them to develop prosperity. The schemes that the United States and Europe are trying aren’t going to work.

It isn’t just the big banks here that we need to worry about. It is also the banks in Europe. People in America and Europe are on the hook for government bills in other countries. Why should people who did things right are paying for the people who did the wrong things.

Roger Holdings Jim Rogers maintains that we shouldn’t bail out people to let them keep their cars. It wouldn’t be the first time in history that someone went bankrupt.