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Rogers: Federal Reserve Is Destroying The Saving And Investment Class

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CNBC
Monday, August 30, 2010

The United States needs to stop printing money and take on austerity measures like the Europeans did, in order for the economy to recover, said billionaire investor Jim Rogers, chairman of Rogers Holdings.

“I’d rather have the Europeans running the U.S. Central Bank than the people running the U.S. central bank, least they know how to try to build for the future,” Rogers told CNBC Monday.

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“In America, Bernanke just says we’ll print more money, we’ll spend more money, even though the United States is now the largest debtor nation in the history of the world.”

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Rogers reiterated that economies in trouble should be allowed to go under, like bad companies.

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This article was posted: Monday, August 30, 2010 at 3:58 am





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