Investor and author Jim Rogers gives his analysis on the US debt ceiling debate, and discusses his move to Singapore.
America will be in worse shape a year from now, Rogers believes, as Washington will continue to spend and drive the nation deeper into debt. Eventually creditors will say “no more”, and social unrest and a currency collapse will ensue, he predicts.
Rogers argues that if politicians deal with the debt issue now, the US may have a hope, after a painful period. “Countries that have gotten themselves into this situation never do anything until there’s a crisis or a semi-crisis,” he comments.
Rogers believes the 21st century will be the century of Asia. Consequently, he has given his children the skills of speaking Mandarin and knowing Asia.
