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US Has More Serious Problems Than Europe: Jim Rogers

Posted By admin On September 27, 2011 @ 8:47 am In Money Watch | Comments Disabled

CNBC [1]
Sept 27, 2011

Global markets have been whipsawed in recent weeks as uncertainty over Europe’s debt situation persisted. But renowned investor Jim Rogers says the U.S. economy has more serious problems than Europe.

“Europe has a few bad, bankrupt states, so does America. We’ve got Illinois which is bigger than Greece, we’ve got California, we’ve got New York, you know those are pretty big states that have serious economic problems. We have pension plans in America that are terribly under water,” Rogers told CNBC on Tuesday.

According to Rogers, the U.S. has deeper structural problems than Europe as well as higher debt levels.

“Europe’s got some bad problems but the entity as a whole is not nearly as deep in debt as the U.S. They don’t have a huge balance of trade deficit, like we do,” Rogers said.

Full article here [1]

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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/44681050

[2] ‘Printing money will lead to serious problems down the road,’ says Jim Rogers: http://www.prisonplanet.com/printing-money-will-lead-to-serious-problems-down-the-road-says-jim-rogers.html

[3] Some European Countries Are Bankrupt: Jim Rogers: http://www.prisonplanet.com/some-european-countries-are-bankrupt-jim-rogers.html

[4] ‘I Expect a Currency Crisis or Semi-Crisis’: Jim Rogers: http://www.prisonplanet.com/i-expect-a-currency-crisis-or-semi-crisis-jim-rogers.html

[5] Another Bottom for Stocks Coming: Rogers: http://www.prisonplanet.com/another-bottom-for-stocks-coming-rogers.html

[6] Another Recession Due Circa 2012: Jim Rogers: http://www.prisonplanet.com/another-recession-due-circa-2012-jim-rogers.html

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