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Jim Rogers: The US Federal Debt Is Unpayable

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posted on May, 6 2011 @ 11:51 PM
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The US Federal Debt Is Unpayable




[QUOTE]Around 1918, the UK went into decline. By the mid 1970’s, it was bankrupt. Starting in 1979, it experienced a bounce-back rally of sorts – thanks to their oil fields in the North Sea. Most people give Maggie Thatcher credit for their comeback, but the real white knight for the UK was the North Sea oil discovery,” he said.

You give me the largest oil field in the world, and I’ll show you a good time too. But the US would need four or five North Sea oil fields to save the current situation...because the Federal debt is unpayable.[/QUOTE]

[QUOTE]Because the Federal debt is unpayable.” The financial profligacy of the United States disturbs Rogers quite a bit – he believes we’ve reached a point of no return, and thinks another crisis could start as early as this fall.

“Foreigners are already starting to get cold feet about investing in the US,” he said, citing the fact that some Swiss banks are no longer buying any US shares.[/QUOTE]


Related articles:
www.minyanville.com...
jimrogers-investments.blogspot.com...




posted on May, 6 2011 @ 11:57 PM
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reply to post by wisdomnotemotion
 




2nd Line



posted on May, 7 2011 @ 12:07 AM
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to this I reply...
"Well duh....what was your first clue there Einstein?"



posted on May, 7 2011 @ 12:38 AM
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I pray the public sees the current situation as a sign that more questioning needs to be done and what their current leaders are doing about it. We can all make a difference by informing ourselves and acting.



posted on May, 7 2011 @ 12:44 AM
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I dis-agree with the whole point of this...

the us federal debt is repayable.... its just that the american leadership doesnt have the strength of Iaccoca to do it... to much turf and no unity...

I could do it with one signature as president..... one



posted on May, 7 2011 @ 08:30 AM
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Originally posted by ripcontrol
I dis-agree with the whole point of this...

the us federal debt is repayable.... its just that the american leadership doesnt have the strength of Iaccoca to do it... to much turf and no unity...

I could do it with one signature as president..... one



Oh yes I forgot. They can always print money in paper, digital and credit forms. Every country needs to follow the American way - Pay your debt with credit card


The entire world is screwed up



posted on May, 7 2011 @ 08:36 AM
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Yeah...they are totally able to pay off the debt.



edit on 7-5-2011 by The_Phantom because: (no reason given)




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