“What worries you?” asks a Bloomberg TV anchor of billionaire investor Jim Rogers. Rogers was not shy in his response: “The Federal Reserve… has no clue what they are doing. They are going to ruin us all.”
Having driven rates to record lows and with debt sky-rocketing, Rogers warns “this is all going to end very, very, very badly.” Rogers slams the ‘counterfactual’ arguments that things would have been a lot worse if The Fed had not done all this, “propping up zombie banks and dead companies is not the way the world is supposed to work.”
“It’s been nine years and we have nothing to show for it [economically] except staggering amounts of debt.”
We have missed Mr. Rogers plain, if often painful, truthiness.
(Editors Note: Jim starts hammering the Fed at the 1m 21sec mark)