Jim Rogers: "US Heading for Disaster. Be Prepared"
"I'm afraid that...right now there's no restriction on the Federal Reserve at all, and at the same time there's no restriction on Congress anymore. They keep making these deals to put off any kind of serious cutbacks."[Policymakers] everywhere are under no constraint. Central banks can print as much as they want, the governments spend as much as they want. So there's no reason this can't go on for a while, because any corrections due to tapering will probably be temporary."
"This is not going to be fun. Don't think I'm looking forward to this. It's going to be a disaster. I don't see the bureaucrats coming to their senses, so it's going to be the markets, and it's going to mean a lot of unpleasant times."You're already seeing social unrest in many countries, and it's going to get a lot worse I assure you."
"This is a lot of fun for those participating. But the overall situation is getting worse and worse. We're all going to have to live with the consequences of printing money."
"These guys are academics and bureaucrats. I suspect the first time they do come to their senses and start to cut back it will lead to some kind of correction, markets going down everywhere. So they will panic and they will start printing again."We've had economic slowdowns every 4-6 years in America...In 2008 it got worse and worse and worse, because the debt so much higher. Look out the window. You can probably see the debt rising! It's like the beanstalk."Whether it's 2014, 2015, whenever [the downturn] comes next time it's gonna be much much worse, because the debt is so much higher."Be careful. Be worried. Be prepared."
"Because we're the largest debtor nation in history – trillions and trillions of dollars."