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Tuesday, December 30, 2014

Rogers : A lot of people are being ruined

Jim Rodgers Blog
December 30, 2014

 Jim Rogers : A lot of people are being ruined. Anybody who saved and invested for the future is being destroyed because they are earning nothing on their savings. Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse. We are doing this at the expense of people who save and invest. We are doing it to bail out the people who borrowed huge amounts of money. The consequences are already being felt. History shows that when you destroy your savings and investing class, it leads to gigantic social problems down the road. More and more people are unhappy in the U.S. and the world, the mood is not great, at least when I am there. We know something is wrong; we may not know it is because the savings and investing class is being destroyed or that the endowments and insurance policies are coming under duress but everybody knows something is wrong. It is leading to more and more social unrest, more disillusionment and it is going to get worse. Turn on any TV, open any newspaper. It is getting worse.