Unmitigated Disaster

You have to love Jim Rogers and the interviews he gives Bloomberg. He’s a wise man that comes across as a cranky at times but we should listen carefully to what he has to say.

I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,‘’ Rogers, 65, said in an interview from Singapore. So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.‘’ via Bloomberg

Commenter and blogger Kevin H posted this reply to my \$5 Trillion Dollars of Debt post yesterday,[]{.push-double} [“]{.pull-double}How in the world is the U.S. going to bail Fannie and Freddie out of 5 trillion? We are already in debt 9.5 trillion dollars.

Yes, the question is[]{.push-double} [“]{.pull-double}how” and[]{.push-double} [“]{.pull-double}can we?” Stay long Euros, Gold, and Oil for now.

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