Strap Yourselves in: Jim Rogers Explains Why We Are Going to Have ‘Financial Armageddon’
- Posted on June 29, 2012 at 11:03am by
Becket Adams
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Leaders of the 17-nation eurozone announced on Friday a plan to rescue their failing banks with cash normally reserved for fledgling governments. When the “recapitalization” (i.e. bailout) plan was unveiled, markets responded very, very well.
However, despite the positive market reaction, there is one veteran businessman who thinks the deal is a big mistake. In fact, he thinks it’s only making things worse. According to Quantum Fund co-founder, free market advocate, author, and regular lecturer of finance at the Columbia University Graduate School of Business Jim Rogers, the EU’s decision to recapitalize its banks won’t do anything to fight off the oncoming “financial Armageddon.”
“Just because now you have a way to get [EU governments] to borrow even more money, this is not solving the problem, this is making the problem worse,” Rogers said during an interview on CNBC on Friday.
German Chancellor Angela Merkel (AP Photo/Michel Euler)
“People need to stop spending money they don’t have. The solution to too much debt is not more debt. All this little agreement does is give them (banks) a chance to have even more debt for a while longer,” he added.
Rogers went on to argue that the deal does very little to improve the finances of crumbling nations such as Greece and Spain and that governments need to stop rescuing failing banks, even if it results in “financial Armageddon.”
“What would make me very excited is if a few people went bankrupt or a few people started paying off their debt. We are going to have financial Armageddon anyways, when the rest of the world is not going to give these people any more money,” he said.
Watch via CNBC:
“What are you going to do in two, three, four years when the market suddenly says ‘no more money’ and the Germans don’t have more money, and the American debt has gone through the roof?” he asked.
The businessman went on to explain that the positive reaction the markets are currently experiencing will be short-lived.
“How many times has this happened in the last three years — they (EU leaders) have had a meeting, the markets have rallied, two days later the market says wait a minute this doesn’t solve the problem,” he said.
Front page photo source: Bloomberg
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Comments (176)
MAMMY_NUNN
Posted on June 29, 2012 at 12:15pmHow long can you feed an addict before before you have to say “Dude you got to get your act together”
Report Post »RJL
Posted on June 29, 2012 at 12:22pmI don’t like Obama and voted twice for Bushie 2. But hate to say it but I think Obama is right about Bush. “Its all his fault” Trillions on unfunded wars (2 wars). All the service men and women that are wounded and the cost will be into the 100′s of billions.
Now one of Bush’s supreme justices turns to the liberals for what ever reason and this health care law is going to cost into the Trillions all because of Bush.
Report Post »Unix
Posted on June 29, 2012 at 12:46pmEVERYONE is in denial, and no I don’t mean a river in Egypt! EU, US, all over the world, even China (but a bit different there). Rogers is correct in saying one cannot pay off DEBT with MORE DEBT. The EU is in deep, so is the US, and one day the houses of cards will crumble. One, two or three years, pfffft, I don’t see it lasting much past the end of 2012, because, DEBT is not the only problem we face. War and geo-political upheaval, domestic civil unrest, when stagflation kicks in due to all of the digitizing of money, and when interest rates HAVE to rise, else investors lose confidence completely. The entitlement crowd, what happens when we cannot GIVE them more, or anything for that matter? What happens when the rest of the world will not invest in America anymore? IT will boil down to a game of chicken, who is going to default FIRST!!!! In any event, get yourselves Survival insurance, no you cannot buy that, but you CAN and should prepare for the worst. Food, water, some commodities and a means to protect that, and your family. Even then, you won’t be totally prepared. I am also spiritually prepared, to meet my maker, and hope for salvation, for a life of sin! God Bless America and you, my friends, I love you all. We live in a mad, mad, mad, mad World!
Report Post »AzDebi
Posted on June 29, 2012 at 1:08pmMr. Rogers has been telling everyone the same thing for 4 years! Glenn had him on his program and he was saying exactly the same thing back then…you can’t fix debt by creating more DEBT! DAH!
Report Post »kadster01
Posted on June 29, 2012 at 1:32pmA great number of us already know this. Why can’t those in charge figure it out? Or are they just buying time to shore up their own resources for survival while the rest of the world fall apart?
Report Post »WakingSheep
Posted on June 29, 2012 at 1:46pmNo worries. There is plenty of money in Washington!
Romney says he knows where to get it!
http://www.youtube.com/watch?v=9ui-EGWz-Bw
Report Post »metalurgy
Posted on June 29, 2012 at 2:22pmThere is no deal. The beggers don’t set the rules, Germany does. They have the gold and Merkle will say “Nein!” has she has every day for the last two weeks. There is not agreement without Germany ratifying the bailout and they can’t/won’t.
There is no deal. Move along. Nothing to see here.
That is all.
Report Post »I.Heart.America
Posted on June 29, 2012 at 2:24pmMoneybomb to deliver the knockout punch to Obamacare….Conservative from Texas Ted Cruz. Run-off election on July 31st…we NEED him in the senate.
https://secure.piryx.com/donate/MuvqSNzw/tedcruz/repealit
Report Post »forthepeople
Posted on June 29, 2012 at 2:24pmRJL : Blaming is easy as my father would say ‘ cowardly ’ , lets see you come up with a solution ?
Report Post »I.Heart.America
Posted on June 29, 2012 at 2:31pmTed Cruz moneybomb vid
http://www.youtube.com/watch?v=X-u4DCsN5KQ
Report Post »ultor-de-deus-exercitus
Posted on June 29, 2012 at 3:03pmLets see, Federal Reserve Act 1913; It takes 100 years.
Report Post »RJL
Posted on June 29, 2012 at 3:09pm@PEOPLE….the solution is? well there is no solution. The fact that we have to elect “the chosen politician” means there will never be a solution. Bush and McCain was “the chosen one”. Now the only choice is Romney “the chosen one”. Conservative….no way is Mitt conservative.
…..so I would rather be a coward than a liar such as Romney, Obama, Bush II, Clinton, Bush 1.
Report Post »TomSawyer
Posted on June 29, 2012 at 3:10pmThe choice is not between Bush or Obama. The choice is between government or free market solutions. War is not a free market idea, and peace a government idea. If Bush caused the economic downturn, then Government caused the problem. Obama wants even more government, so he is not the solution. In fact, a ground up movement towards more free markets is the real solution.
Report Post »MAMMY_NUNN
Posted on June 29, 2012 at 3:16pmMaybe we need more visual aids to reach the learning impaired.
Report Post »RJL
Posted on June 29, 2012 at 3:35pmMore free markets as in unfair trading partners. More mess the Republicans, Bushes, Romneys, Clintons got us into. Free markets is code word for shafting the American workers.
As for visual aids look in the mirror and then kick yourself for being so stupid in believing that the current “chosen one” is going to get us out of this mess.
Report Post »PATTY HENRY
Posted on June 29, 2012 at 4:55pmso @ RJL your logic tells you that Obama is Right about BUSH and it‘s ALL BUSH’S FAULT? SO instead of trying to fix this mess, OBAMA compounds it…?
Report Post »IT’S REALLY TIME FOR WE, THE PEOPLE, to start paying attention again. It’s not their fault…it’s OUR FAULT. We let them get away with it. WE allowed them to knock GOD out of School; WE didn‘t check over our kid’s text books; WE allowed their dippy teachers to keep going; WE allowed the GOVT to give into UNIONS and the ridiculous 90% retirement fiasco (totally unsustainable); WE let gangs build up in our streets; WE didn’t make our politicians CLOSE OUR BORDERS; WE let creepy little hedge fund day players run up our oil costs; WE let some crooked politicians stop us from drilling for our own energy; WE didn‘t raise HOLY HELL when they didn’t go to IRAQ and AFGHANISTAN to WIN. I mean planes in; bombs dropped; planes out…”wanna keep doing it again?”
Planes in; Bombs dropped; planes out. REAGAN was right about STAR WARS.. BUT GOD was smarter, can you imagine what a monster OBAMA would be if HE had the red button in his office?
ONCE we get rid of all the Progessive; Traitors; One-Worlders; Anti-Americans; and just plain EVIL PEOPLE like OBAMA, PELOSI, JARRETT, AXELROD, SUNSTEIN, JONES …just pure EVIL..once we get our Country back we had better set up some REQUIRED HISTORY CLASSES … Maybe we can buy our kids/grand kids the AMERICA we grew up in… we owe them that!
Unix
Posted on June 29, 2012 at 4:59pmRJL, you are not very educated to say what you do, and you are a coward! Where else in the world could you become a millionaire overnight, with a good idea; or a millionaire over time due to hard work, an education and wise investments, or create a business (jobs). Nah, you’re just another one of those gimme communists, and THAT ain’t gonna happen here, w/o a lot of trouble first! You haven’t got the GUTS to be rich!
Report Post »AZindependent
Posted on June 29, 2012 at 5:41pmAnother “kick the can” solution which has a shelf life of a couple of days. Default, bankruptcy, etc… are the only solutions. The economic collapse will be epic, most likely paired with WW3. Buy long term storage food while it is still cheap.
Report Post »SUPERTODD
Posted on June 29, 2012 at 6:36pmRJL,
History has repeated itself. You need to see GW as Hoover and Obama as FDR. Hoover even had a non-targeted tax cut that failed to stimulate the economy, because it did not give a steep cut to the upper income bracket. The reason- Hoover did not want to be demagogued as favoring the rich. History always repeats itself.
Report Post »therealconservative
Posted on June 29, 2012 at 6:43pm@RJL
Your “It‘s Bush’s fault’ line, tells everyone that you are a liberal and have always been one.
Report Post »Independent4233
Posted on June 29, 2012 at 6:47pmThe EU has come up with another scheme to bail out the banks but every economist worth his salt is saying they might be able to avoid complete collapse if they tighten up and reduce their GDP to debt ratio right now and let the banks dig themselves out of the holes they’re in or collapse on their own.
But, of course, they won’t do that.
They can kick the can down the road a bit further for a while longer, but the sad fact is that they’re running out of road.
Since the US is tied in so closely with the European banking system, when the dominoes begin to fall they will inevitably be coming this way.
Report Post »loriann12
Posted on June 29, 2012 at 7:20pmYea, let me try that with my credit card company….max out my card, and the pay my bill with the same card, after I raise my credit limit. Your analogy of an addict is spot on. It’s the same when you have a family member who has been rescued from all their mistakes. there comes a point when you have to let them learn the hard way. Problem is, we’re going to learn the hard way from their mistakes, they won’t learn anything.
Report Post »gooeylewie
Posted on June 29, 2012 at 7:48pm@RJL
No, it is not ALL Bushes fault.
Do us all a favor and stay home in November. It is simpleton thinking like yours that has brought this country to this point.
Report Post »3monkeysmomma
Posted on June 29, 2012 at 9:16pmRLJ is right.
It’s not “all Bush’s fault” but he certainly deserves a large share of the blame, and like RLJ, I also voted for Bush twice. My fellow conservatives, the first step towards solving a problem is to admit you have one.
The Republican Party clearly has a HUGE problem as evidenced by the fact we keep nominating progressives. Yelling at the truth-tellers only prolongs the “denial phase”.
We were ALL WRONG. Now let’s do something about it!
Report Post »3monkeysmomma
Posted on June 29, 2012 at 9:18pmOK…RLJ is wrong about free markets.
Report Post »I do not extend my support for Occupy wall street.
(sorry didn’t see that post)
berlich
Posted on June 29, 2012 at 10:07pmHey man, I can quit anytime. Honest!
Report Post »RJL
Posted on June 30, 2012 at 6:41amThe Republicans have done more to ruin the middle class by the unfair trade deals they came up with. In the name of Free Markets.
Report Post »RJL
Posted on June 30, 2012 at 7:14amMust have hit a nerve when I had the @#$%& to question “the chosen one” You guys forgot the cliche’ “bigot”. Thats usually what I am called question Romneys qualifications. If he has any to be the President. How dare I question the guy that is going to run the country.
Thanks for the insults from, the cowardly, not very educated gimme communists, liberal and have always been one, simpleton, stupid thinking, wrong, bigot….rjl
Report Post »pjpockets
Posted on June 30, 2012 at 12:18pmBRAIN DEAD!!!!!!!! How the HELL can you blame Bush for the spending increases that Obama puts in place. Bush made his own contribution to this downfall for certain, but anyone that tries to blame the other guy is just to stupid to be believed.
Report Post »Unix
Posted on June 30, 2012 at 6:14pmRJL, they are not insults, they are the truth, and I am sorry you are not mature enough to realize it! You damn the free market system, you are not conservative. True Bush had his hands in this, so have all Presidents past and present going back to Hoover. If there is one thing that can fix this, is to wake people up, slap them in the face, if need be.
Report Post »Favored93
Posted on June 30, 2012 at 8:07pm@RJL
Report Post »Look if Obama thought Bush was truly wrong he would have pulled ALL troops home on day ONE!
Bush ran up WAAAAAY to much debt and I am not a fan of Bush…. I voted for Palin NOT for Bush2 …. remember tho it took Bush 8 years to rack up 5 trillion dollars in debt and Obama has PASSED that and taken on 8 TRILLION in 3 years!
What we are seeing is NOT bush’s fault although I agree he screwed the pooch on this also.
Bush is a big government progressive with an (R) by his name. I agree with Glenn … ALL PROGRESSIVES NEED TO GO! We start with Obama and keep Romney in check and then get rid of Mitt and get a TRUE conservative in there with the house and senate then and only then will we see a nation we all recognize!
C. Schwehr
Posted on July 1, 2012 at 6:54pmAs you can see, there are still some fools out there like RJL who are still more interested in blame than in solving the problem…Bush II was NOT the main problem…The current insane spending of every country in the western world is the problem..No doubt there will be many history books written which will blame the entire collapse on ONLY the conservatives who staved off the collapse for a few extra years while the communists who write the history are praised on high for their efforts to turn our country into another hell hole.
Report Post »RJL
Posted on July 2, 2012 at 10:38amBush is at fault when he says one thing and does another. With Democrats we know they are born to lie but I hold Republicans more accountable because they use to stand for truth and honesty. Now everything is just political and greed.
Report Post »MODEL82A1
Posted on June 29, 2012 at 12:08pmSince you all obviously do your own research (Lol!), you all know that Rodgers was Soros’s partner and co-creator of the Quantum Fund. Both he and Soros made and continue to make their fortunes betting on the collapse (or at least decline) of currencies. Although, since he’s also a Gold Bug (like Glenn), I‘m sure you believe he’s being honest and objective here. Again, Lol!
Report Post »Rothbardian_in_the_Cleve
Posted on June 29, 2012 at 12:29pmSo, fixing debt issues with more debt makes sense to you? Just because a statist says it you reject it out of hand? Makes sense.
Report Post »Doctor MD
Posted on June 29, 2012 at 1:37pmActually Mr Rogers is a commodities trader, deals mostly in the Asian market of late
Report Post »girlnurse
Posted on June 29, 2012 at 1:48pmGo to the 7 min mark and see what George Soros says about Jim Rogers.
Report Post »http://www.youtube.com/watch?v=_BP9ilq6Teg&feature=player_embedded
saranda
Posted on June 29, 2012 at 7:46pmGirlnurse – and yet they continue to in invest alongside each other. You are being naive.
Report Post »girlnurse
Posted on June 30, 2012 at 4:22amSARANDA: No Im not naive. I see right thru it…I actually think theyre probably great friends…and Glenn is good friends with Rogers…..a good friend of Soros….did he mention that? hmmm
Report Post »Unix
Posted on June 30, 2012 at 6:45pmModel, they may have been partners in the past, but are no longer, but I don’t just listen to Rogers, there are a host of others, who have credibility that call for a collapse! Believe what you want.
Report Post »NOBALONEY
Posted on June 29, 2012 at 12:01pm“Ha ha ha stranger things have happened” Ended this clip. Whe this all collapses the CNBC crew will be leading the way with the bridge jumpers.
Report Post »SavvyCowboy
Posted on June 29, 2012 at 1:02pmCommon sense says if all you do is borrow more and more money you will soon be a point where you will never be able to repay all your debts. I‘m far from being a pessimist but when enough economic experts say we’re heading toward “financial armageddon” one must be prepared for it. Thanks Barack!!
Report Post »fldammy
Posted on June 29, 2012 at 11:59amEveryone knows this is going to happen, but question is why? This is all about history’s greatest wealth transfer, engineered and paid for by those who are going to benefit. In the land of the blind, one eyed is king. Those who have hard commodities are going to be coming out of this smelling like a rose. Those in debt and depend on a job to keep them eating from week to week are going to lose it all and beg government to feed them, regardless on what they have to give up in constitutional rights. This is why Soros has paid out $7B to liberal groups over the decades, to prepare for this upcoming wealth transfer and government control of the masses as he and his ilk control governments via lending them money.
Report Post »Steve28
Posted on June 29, 2012 at 11:58amGee I thought Soros said we had 3 days?
Report Post »NancyBee
Posted on June 29, 2012 at 11:56amGood-bye middle class
Report Post »Steve28
Posted on June 29, 2012 at 11:55amGold price today tells you this is not a good thing. America is following the same track and will under Obama.
Report Post »Mutiny
Posted on June 29, 2012 at 12:17pmRomney takes us in a different direction than Obama?
Report Post »Walkabout
Posted on June 29, 2012 at 1:09pmMutiny.
Romney will be like herding a cat. Herding Obama is like herding a big rock.
Obama gave us Kagan & Soto Mayor. Can we afford more like them?
Report Post »Walkabout
Posted on June 29, 2012 at 1:10pmMutiny
Report Post »Would Romney give us a Attorney General like Holder who concocted Fast & Furious?
spunkymonkey
Posted on June 29, 2012 at 1:13pmNo Mutiny, the used car salesman doesnt take us into a different direction than Obummer. But he does slow the train running full speed toward the cliff down hopefully just enough that we can get LAWMAKERS in office to help make a course correction.
Who you got in mind?
Report Post »ai4px
Posted on June 29, 2012 at 1:47pmThat’s whats killing me…. Romney is NOT going to fix this. Ron Paul might, Ross Perot perhaps… Romney, well at least he’s not a commie.
Report Post »soybomb315
Posted on June 29, 2012 at 2:35pm@walkabout
“Obama gave us Kagan & Soto Mayor. Can we afford more like them?”
Kagan and Mayor are uber liberal. And did the republicans try to block them??
Report Post »Walkabout
Posted on June 29, 2012 at 6:49pmsoybomb315
As the Newsweek editor said during the Kerry Campaign of 2004, the press is worth 15 points. You will come up for election at some point & the press will be there. That would make the press something like the 4th estate, an unelected one.
There are other reason, which are defensible varying degrees. there is the president should get his appointees, which some people even apply to appointments of judges. I venomously disagree withy the latter. Kagan should have recused herself on this case. that she did not do so shows her partisanship.
We need to vote people like McCain, Olympia Snowe, out of office. McCain might have physical courage but it is debatable whether he has political courage. Collegiality might be good to an extent, but when the other side is so acidic, calling everyone “my friends” falls flat.
It is hard when the ABA (American Bars Assoc.) vets partisan judges. Between the ABA, the press & Democrat politicians, a Republican is taking fire from all sides.
What is needed is alternative to the ABA. AMAC is competition for the AARP. We need something to compete with the ABA. That will give more terra firma for good politicians to stand on.
Report Post »therealconservative
Posted on June 29, 2012 at 8:45pm@Soy
“Obama gave us Kagan & Soto Mayor.”
Your idol Wrong Paul would do the same, their social liberals just like him.
Report Post »soybomb315
Posted on June 29, 2012 at 11:27pm@thereal
Report Post »maybe that was walkabout’s quote, not mine. Who said anything about ron paul?
Bryan B
Posted on June 29, 2012 at 11:52amI wouldn’t listen to anything Jim Rogers has to say.
Jim Rogers is clandestine operative for Chinese State Intelligence (Ministry of State Security), knowen as HUMINT…….
Report Post »fldammy
Posted on June 29, 2012 at 12:03pmThe Elites are suppose to warn us before they do something, based on their version of a morale code. Take this as a warning as Soros’s warning of late of what it will mean when the EURO dies.
Report Post »RightPolitically
Posted on June 29, 2012 at 11:52amFrau Merkel will eventually see the light and turn far right. Achtung!
Report Post »turkey13
Posted on June 29, 2012 at 11:49amThis is why George Soreass bought 1 Billion in gold last year. Many of these EU countries that are being bailed out bought gold on credit.I bought a lot of silver (poor mans gold) at $5 to $10.00 an ounce and it is around $30.00 an ounce.I bought a 1899 $20.00 gold coin when Ford put us back in the game for $192.00 and still have. After no one takes money we will go to a barter system with gold and silver King money! Notice nearly all business have a sign up now saying no checks. A friend at a restraunt told me that when he put up his he just had $800.00 in bad checks.
Report Post »saranda
Posted on June 29, 2012 at 11:59amInteresting you mention Soros….you do know that he and Rogers started the Quantum Fund and continue to do business together. More than just a little funny that gb hates Soros but gets giddy about Rogers. Maybe I can find a conspiracy in there….hmmmmm.
Report Post »Apple Bite
Posted on June 29, 2012 at 12:18pmYou’re right about Soros and Rogers. But there’s a split in where they disagree how things should be…
Report Post »saranda
Posted on June 29, 2012 at 7:51pm@applebite – and the split is exactly where they want it to be, in the public eye. Soros and Rogers continue to invest alongside each other and you are not able to see it. Just as they want. Why does gb love rogers but hates Soros? GB follows the money bit chooses to tell you only what need to know to come tinge to sell to the rubes.
Report Post »JohnQTaxpayer
Posted on June 29, 2012 at 11:48amWe are going to go thru the death of the welfare state worldwide; Lead will become the new gold
JQT
Report Post »GeorgieJo
Posted on June 29, 2012 at 11:58amNo potatos will.
OMG 2012
Report Post »JohnQTaxpayer
Posted on June 29, 2012 at 12:18pmWithout lead you will not be able to protect your potatoes
Report Post »Mutiny
Posted on June 29, 2012 at 12:19pm@geo
Lead gets people potatoes.
Report Post »Individualism
Posted on June 29, 2012 at 11:46amRevolution time coming soon, lets use any currency we want and throw the bankers in an oven how about that. there needs to be a point where people don’t pay taxes the pigs come and the people retaliate against them together a community until the goverment is no longer bought and paid for and changed.
Report Post »Walkabout
Posted on June 29, 2012 at 1:11pmRevolution? I hate to break it to you but the general war starts in Syria tomorrow.
Report Post »WakingSheep
Posted on June 29, 2012 at 5:07pmThese idiots like the idea of being a collective instead of an individual.
They have been voting in favor of big government (lesser of two evils) since way before I was even born.
It’s BS knowing that you were basically sold into slavery before you were born and YOU LIVE IN A CONSTITUTIONAL REPUBLIC!
They voted for what they wanted in the primary….. we had a true Constitutionalist and we voted for the flip-flopper Utopian.
Report Post »Big R and Big D both want to interfere in our daily lives. To them; we don’t know how to take care of ourselves so we need them to take care of us……
It really is sad how un-educated people are on the ideas of Utopia (Communism). It cannot be achieved.
therealconservative
Posted on June 29, 2012 at 9:18pm@indiv
So I take it you’ll be at the OWS event this weekend in Philly
Report Post »soybomb315
Posted on June 29, 2012 at 11:51pm@thereal
Report Post »get a life. you are talking like the republican version of Chris Matthews
Shakespear
Posted on June 29, 2012 at 11:45am“But seek ye first the kingdom of God, and his righteousness: and all these things shall be added unto
you.” Matthew 6:33
God will provide for His own, therefore you should get busy becoming one of His.
Report Post »xpilotah1s
Posted on June 29, 2012 at 11:57amSo sorry to not agree, but God has had 2000 plus years to get his point across, it would not take much maybe even visit to everyones dream state, nothing dramatic just make sure that everyone understands he means business. Face it he is the truly great one, then it is time he gets involved on a more personal basis.
Not expecting any epic moves, but it is time for some serious involvment with some skin in the game.
No argument with Religion or issues with faith of anyone.
It is time……………Just saying
Report Post »GuyinFLA
Posted on June 29, 2012 at 11:57amGod helps those that help themselves. If we want out of this debacle, it’s going to be up to us. I wish it weren’t so but truth is truth………..
Report Post »kaydeebeau
Posted on June 29, 2012 at 12:13pmWell Xilo – He is dealing with a prideful, foolish, blinded by sin people with free will to chose His path or reject it. The Book tells us the best way and tells us what the consequences will be for the wrong way.
There is coming a day of reckoning when He will say – time for choosing is up. We have many opportunities to choose wisely. Many will not make the right choice and will pay the penalty for it
Report Post »girlnurse
Posted on June 29, 2012 at 1:28pmHow long is two thousand years in the face of eternity?
This life on earth is fleeting. We ALL have eternal life….the question is
where will you spend it? There will come a day when men will try to hide and/or die but it wont happen.
And said to the mountains and rocks, Fall on us, and hide us from the face of him that sitteth on the throne, and from the wrath of the Lamb: Rev. 6:16
Report Post »RightPolitically
Posted on June 29, 2012 at 11:42amThey’re in denial over there. The greedy populous of Europe won‘t face the reality that they’ve milked the cow dry and it ain’t gonna give any more milk. Sad to say, we helped them do it by paying for their defenses for the past sixty years while they spent their own money on SOCIALIST UTOPIA!
Report Post »Iamnotanumber
Posted on June 29, 2012 at 11:41amSo is this a short term reprieve from collapse of what, more time to make arrangements, or not???
Report Post »xpilotah1s
Posted on June 29, 2012 at 11:38amEveryone should do whatever they can to pile on the debt burden to themselves and the collective progressive agenda. Force the earliest possible crash off the cliff into the days we were all living in caves and using rocks for weapons. Once the dust settles (yes a few will suffer the extreme impact) everyone to include the progressives will be wandering around looking for something which no longer exists. (Money and wealth). Then we all may be able to grasp the concept of reward based upon your individual effort. Gathering your own nuts, food and water and forgeting about the hairdresser appointment, cell phone and the daily typical nonsense……………
Report Post »Just make sure you borrow and buy things which might give you some use, like tools, fire starting and defense needs………Try bartering your way through life with your rock brothers.
JRook
Posted on June 29, 2012 at 11:52amRodgers like many spend excessive amount of time criticizing the actions that are being taken. However, under a policy which I’m sure he enforced when he was in management. You can‘t criticize what’s on the table without putting a better solution up. He knows like everyone in Congress that you can’t solve the US economic problems and debt issue by simply reducing spending. And certainly not if you continue to reduce taxes. Debt represents prior spending and should be paid by those who benefited from it, not buy our children through reduced spending on education and cuts that cause states to close parks and cut key services. The only way to pay off the debt is to institute a scaled surcharge that is earmarked for the deficit. As for the current deficits, cut ALL programs equally, including defense until the budget is balanced and then add back, with necessary revenue enhancements to pay it. All the pontificating and wasted energy and actions in Wash. by both parties reinforces that most of them are merely critics. And have no ideas or leadership ability to move the country forward. For those who think moving it backward is the best idea, backward to what Reagan….. the guy who ran up the first $2 trillion of the deficit through “Supply side” defense spending economics. Reagan is the author of curt income tax rates and then raise every government fee and other taxes.
Report Post »kaydeebeau
Posted on June 29, 2012 at 12:50pmHowever, since leftists will be the least prepared and since leftists are bound up with coveting what others have, and since they believe in relativism and do not adhere to the absolute Truth concept, they will use their rocks to bash you in the head and take your nuts, food, water and anything else you have managed to work to have for survival.
Then as now we will have to protect ourselves from the thieving of the leftists
Report Post »RodT82721
Posted on June 29, 2012 at 11:37amMr. Rodgers knows of what he speaks. In fact he is someone that has taken steps to protect his vast wealth. He no longer lives in the good ole (and stupid) USA. His kids have learned to speak Chinese. He didn’t leave his kids to be educated by the unions.
So in a few months, the check book is empty once again. The POTUS and his Democrats will be all over TV calling anyone that wont borrow more money, to keep up the appearance of a solvent treasury, racists or something worse – Republicans! Evil rich people! Greedy rich people!
Then of course our last resort, the conservatives in the House will cave in and give Barry another couple of borrowed Trillion Chinese dollars, while the Chinese continue funding their military build up with our interest money. And the cheering crowds applaud Barry for his lying skills.
Just how I see it!
Report Post »AmazingGrace8
Posted on June 29, 2012 at 11:34amThank you Blaze for this article. Mr. Rodgers with a “bow-tie” makes sense but appears his logic-been-there-done-that, will be a “voice in the wilderness”. This world-wide “Pride” will be the down-fall of many nations (on their own..this time). There is a FINAL TIME that is “looming-by-the-exit-door”.
Report Post »I stand with Israel !!!
SamIamTwo
Posted on June 29, 2012 at 11:48amI pray you are wrong but His will be done…
Report Post »Leader1776
Posted on June 29, 2012 at 11:28amThis is why I only listen/watch Kudlow. If you listen to these two CNBC goofs they believe cheaper debt is a free lunch. This is a problem with the young financial commentators. They’ve only known global debt and resurgence of Keynesian economics. This goes beyond Thatcher’s wonderful quote: ‘……. sooner or later you run out of other peoples‘ money’. This will be a case of running out of money …… PERIOD!
Report Post »AMENDMENT
Posted on June 29, 2012 at 11:39amJust thought i’d post the hole quote, just to keep it in context “The trouble with socialism is that sooner or later you run out of other people’s money.”
:P
Report Post »AMENDMENT
Posted on June 29, 2012 at 11:42amJust thought i’d post the whole quote, just to keep it in context “The trouble with socialism is that sooner or later you run out of other people’s money.”
:P
Report Post »jakartaman
Posted on June 29, 2012 at 11:27amHe is absolutely correct!
Report Post »Pay me now or pay me later.
If its later it will hurt a lot more.
There IS going to be a World Wide Depression that will make Grandpas look like a mild recession.
It it inevitable and can not be wished away!
macpappy
Posted on June 29, 2012 at 11:24amThats true, the poorest folks will see little difference since they are already living the life of nothing, however, the mighty mighty rich will not suffer, but the barely rich will be ruined completely and those will be the ones jumping off roofs, and offing themselves. The middle class will drop down to the poorest level, and become the new capos of the hugh underground economy that will emerge.
Report Post »I buy one uncirculated Silver Eagle every week, and I only hope to keep me and mine from starving.
Hannibal_32
Posted on June 29, 2012 at 11:30amSilver is great, and I do have some. But food is the best thing you can stock up on.. For about a grand you can get 6 months to a year of food (with 25 years shelf life) for two adults. When people are starving, silver won’t matter anymore.
Report Post »iampraying4u
Posted on June 29, 2012 at 11:39amHannibal 32 you better get more food than 6 mo because Tribulation last for 7 years
Report Post »dublinthewagons
Posted on June 29, 2012 at 11:55amSilver & gold will have no value. You can not digest them. #1 Food #2 shelter #3 a way to defend & protect #1&2.
Report Post »bobbyjoe
Posted on June 29, 2012 at 11:23am“What are you going to do in two, three, four years when the market suddenly says ‘no more money’ and the Germans don’t have more money, and the American debt has gone through the roof?” he asked.
How does he think it will last that long? I’m betting on September, October This year!
Report Post »ChiefGeorge
Posted on June 29, 2012 at 11:30amI think Jim is a little to optimistic…3-4 years down the road?
I like Rogers and I have no doubt about his creds. He like Schiff have a nose for this stuff!
Report Post »bobbyjoe
Posted on June 29, 2012 at 12:02pmI like Rogers too. I think the death spiral down the toilet is getting awful fast. These “infusions” of fiat cash are going on almost monthly/weekly. It has to end soon. A month before the elections would be perfect timing for Obama and for his “final solution.”
Report Post »dublinthewagons
Posted on June 29, 2012 at 12:17pmAudit the federal reserve and watch our economy collapse over night. China hasn’t loaned us money in over two years. Washington had to put up our gold as collateral @ that time. The last time we ask they wanted federal land as collateral.
Report Post »CatB
Posted on June 29, 2012 at 11:18amWe just had the LARGEST TAX ever imposed on the American Taxpayer (Obamacare) and Taxaggedon is on the way (expiring Bush tax cuts) .. You think it MIGHT be bad in a recession/depression? Who couldn’t see this coming!
Report Post »completehorsesense
Posted on June 29, 2012 at 11:16amGet out your Bible Ladies and Gentlemen and read KJV DANIEL Chapter 11 verses 20 and 21. It’s on!
Report Post »LovingAmerica
Posted on June 29, 2012 at 12:04pmThank you for sharing this wonderful scripture, Completehorsesense…. The 91st Psalm is filled with comfort and promises for those who love God and take shelter beneath His wings. “Because thou hast made the Lord, which is my refuge, even the most High, thy habitation; There shall no evil befall thee, neither shall any plague come nigh thy dwelling, for He shall give His angels charge over thee, to keep thee in all thy ways.” We do need to be prepared but at the same time, trust in Him and be “anxious for nothing.” We can trust Him with our welfare and our future.
God Bless America.
Report Post »sWampy
Posted on June 29, 2012 at 11:09amThis will only hurt, the middle class, what’s the big deal, the poor and the very rich won’t be hurt, they are all that is important to the liberal collective.
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